Senate Bills - 110th Congress

S. 3451—The Strengthening Our Economy Through Small Business Innovation Act of 2008

On September 8, 2008, Senator Russ Feingold (D-WI) introduced S. 3451, the Strengthening Our Economy Through Small Business Innovation Act of 2008. Provisions would amend the Small Business Act to (1) extend the SBIR/ STTR Programs for fourteen years, (2) increase the allocation for SBIR from the current 2.5 percent to 10 percent and for STTR from the current 0.3 percent to 1.0 percent over a three year period, (3) increase Phase I award levels from $100,000 to $300,000 and for Phase II from $750,000 to $2.2 million, and (4) add water, energy, transportation, and domestic security-related research to the list of funding priorities. S. 3451 was referred to the Senate Committee on Small Business and Entrepreneurship.