A U.S. Food and Drug Administration (FDA) advisory committee recently determined that phenylephrine, an ingredient commonly used to treat sinus and nasal congestion, is ineffective in treating these symptoms. This was apparent from research for years, yet large...
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Rubio Habla en La Poderosa
El senador estadounidense Marco Rubio (R-FL) habló con César Grajales de La Poderosa 670 AM en El Panorama Político, sobre la crisis fronteriza, sobre cómo los hispanoamericanos se ven afectados con la realidad del país, sobre los cargos contra el senador Bob Menéndez...
Rubio, Colleagues Reintroduce Bill to Protect Rights of Pregnant Students
Pregnant students are sometimes discriminated against by their schools, either intentionally or unintentionally and there is a concerning lack of awareness about the resources and rights available to them. Due to a lack of services and discrimination, these women may...
Rubio, Colleagues Reintroduce Intelligence Community Workforce Agility Protection Act
Currently, intelligence community civilians are subject to certain tax penalties for job-related relocation requirements, but active-duty military servicemembers are not subjected to the same penalties. These tax benefits, including the ability to deduct moving...
Rubio Delivers Remarks at Senate Intelligence Hearing
Vice Chairman of the Senate Select Committee on Intelligence Marco Rubio (R-FL) delivered opening remarks and questioned witnesses at a hearing on countering China’s influence in the United States. Watch Rubio’s opening remarks here as well as Part I and Part II of...
Rubio-led Resolution to Raise Awareness for Spinal Cord Injuries Passes Senate
Approximately 302,000 Americans live with spinal cord injuries. To help these people achieve a better quality of life, there is a need to increase education and invest in research. U.S. Senators Marco Rubio (R-FL) and Tammy Baldwin (D-WI) successfully led a bipartisan...
Rubio, McMorris Rodgers Introduce Legislation to Spur Small Business Investment
Washington, D.C. – U.S. Senator Marco Rubio (R-FL) and U.S. Representative Cathy McMorris Rodgers (R-WA) today introduced the Spurring Business in Communities Act, legislation that would allow more Small Business Investment Companies (SBICs) to form and invest in Florida, Washington state, and other under-licensed states.
“I want Florida’s entrepreneurs and investors to be able to stay and invest here in Florida’s economy, instead of being shoe-horned into Wall Street and Silicon Valley jobs away from home,” said Rubio. “Our bill will help reduce America’s investor gap by removing regionally biased obstacles investors face when applying to become a licensed Small Business Investment Company.”
“Small businesses are the backbone of our economy. They provide 55 percent of jobs in America, and account for 1.3 million employees in Washington state alone,” said McMorris Rodgers. “SBICs serve an important function in providing capital and support to these small businesses, but there are currently none here in Washington state. Instead, SBICs are primarily located in large urban and finance centers of the U.S., which only further concentrates lending and investment activity. This legislation will change that by easing the process for SBICs to form in our state, invest in people in our community, grow our local economy, and create jobs.”
“SBICs have an extraordinary record of empowering small businesses to grow and create jobs,” said Alliance President Brett Palmer. “We applaud Senator Rubio and Representative McMorris Rodgers for helping SBICs bring prosperity and hope to small businesses in every community in the country.”
SBICs were established by the Small Business Investment Act of 1958 to provide for government support of small businesses throughout the country, backed by the Small Business Administration. Currently, 72 percent of these SBICs are already located in 10 states. This legislation would increase the ability of the SBA to provide widespread geographic support and increase the SBA’s accountability to Congress. Specifically, it would exempt SBIC applicants from under-licensed states from full capital requirements, give first priority to new applicants from under-licensed and under-financed states, and establish annual reporting requirements on the SBA’s progress toward increasing the geographic dispersion of SBICs.