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H.R. 4293: Supporting America’s Young Entrepreneurs Act of 2021

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H.R. 4293: Supporting America’s Young Entrepreneurs Act of 2021

117th Congress · introduced 2021-06-30 · Education · Latest: Referred to the Committee on Education and Labor, and in addition to the Committees on Ways and Means, and Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

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Follow this bill, step by step

  1. Where it came from: introduced 2021-06-30 · official record
  2. Who proposed it: Rep. Velazquez, Nydia M. [D-NY-7] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Referred to the Committee on Education and Labor, and in addition to the Committees on Ways and Means, and Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Supporting America’s Young Entrepreneurs Act of 2021

Plain summary

Supporting America's Young Entrepreneurs Act of 2021 This bill provides deferment and cancellation of federal student loans for certain founders and employees of small business start-ups. The bill also establishes a young entrepreneurs business center. First, the bill allows a founder of a small business start-up to defer student loan payments for up to three years. Next, the bill directs the Department of Education (ED) to cancel up to $20,000 in federal student loan debt for a borrower who (1) has made 24 monthly payments on the loan while employed as a founder of a small business start-up in a distressed area, (2) is approved for loan cancellation by the young entrepreneurs business center established by the bill, and (3) is not currently in default on the loan. Further, ED must cancel up to $3,000 in federal student loan debt for a borrower who (1) has made 12 monthly payments on the loan while employed full-time by a small business start-up, and (2) is not currently in default on the loan. The bill also excludes from an individual's gross income, for income tax purposes, the amount of such canceled student loan debt. Finally, the bill establishes a young entrepreneurs business center within the Small Business Administration to certify small business start-ups, identify distressed areas, and approve loan cancellations. To be certified by the center, a start-up must have a founder who is a recent graduate of an institution of higher education.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Supporting America’s Young Entrepreneurs Act of 2021

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

Arguments for (supporters)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Velazquez, Nydia M. [D-NY-7] · 5 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Judy Chu (D-CA), Dwight Evans (D-PA), Andy Kim (D-NJ)

Sponsor's campaign money: Rep. Velazquez, Nydia M. [D-NY-7] reported raising $180,257 (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong117-hr4293 · catalog fed-us-congress-bills-cong117 · updated 2026-11-15 by psicol fed-bills-cong117