SBE Council Statement of Support: H.Res. 1007 on the Adoption of AI in Financial Services and Housing

By SBE Council at 3 February, 2026, 10:40 am

The following statement of support for H.Res. 1007 - Expressing the sense of the House of Representatives with respect to the use of artificial intelligence in the financial services and housing industries - can be attributed to Small Business & Entrepreneurship Council (SBE Council) President & CEO Karen Kerrigan:

"Small business owners want a balanced regulatory approach regarding government's role in AI. SBE Council believes H.Res. 1007 reflects that balance with respect to the technology's adoption and potential in the financial services and housing industries."

"AI solutions and tools continue to transform all sectors of the economy. Indeed, as noted in SBE Council's recent outlook survey, 88% of small business owners report using AI tools and 72% said they expected the technology to redefine their industries. The benefits for entrepreneurs, small businesses, and their workers have been widespread - 73% of small business owners report that their use of AI has been critical to the competitiveness and growth of their businesses."

"Policymakers must ensure that regulatory frameworks encourage innovation and investment, expand opportunity, and support consumers that use the products and services of businesses across industries. Moreover, these frameworks must not impose unnecessary or disproportionate burdens on innovators and small businesses. SBE Council is pleased that H.Res. 1007 incorporates this important principle. H.Res. 1007 also recognizes that regulators should assess the impact of their potential actions on innovation, cost effectiveness, and market competition before issuing new AI-related rules, while ensuring existing laws are enforced appropriately."

"SBE Council appreciates the leadership of Congressman Bryan Steil in sponsoring the resolution, and we urge other congressional committees to develop balanced and bipartisan AI strategies that recognize the technology's potential, existing laws or rules that can be applied in the case of consumer harm, and thoughtfully addressing gaps where regulation or action may be needed."

SBE Council is a nonpartisan advocacy, research and education organization dedicated to protecting small business and promoting entrepreneurship. For more than 30 years, SBE Council has advanced a range of private sector and public policy initiatives to strengthen the ecosystem for strong startup activity and small business growth.

Visit www.sbecouncil.org for additional information. X: @SBECouncil