The bill S. 1047, titled the "Assisting Small Businesses Not Fraudsters Act," aims to stop individuals convicted of government fraud from receiving financial help from the Small Business Administration (SBA). If a person closely associated with a small business, like an owner...
Simple Explanation
The bill is like a rule that says if someone has been bad and tricked the government to get money, they and their team can't get help from the Small Business Administration anymore. But if they already got some help before the rule starts, that's okay.