HAMBURG — Congressman Chris Jacobs has re-introduced the No Small Business Aid for China Act.
“China’s growing malign activities — including intellectual property theft, corporate espionage, and cyberwarfare — directly threatens Americans and our small businesses,” Jacobs, R-Hamburg, said in a news release. “The authoritarian Chinese government asserts its influence over major Chinese businesses and executives with the intent of destroying U.S. competitors.
“As such, they should not be able to access funds specifically designed to support American small businesses,” Jacobs said.
Jacobs originally introduced the No Small Business Aid for China Act during the 116th Congress. The legislation would bar any company that is headquartered in the People’s Republic of China, has more than 25% of voting stock controlled by Chinese citizens, or is affiliated with human rights abuses in Xinjiang Province from accessing aid from the U.S. Small Business Administration.