OCTOBER ADVOCACY UPDATE
NAWBO ADVOCACY CALL ON TUESDAY!!!
Next week's Advocacy Call is on Tuesday, October 26 at 12 PM ET. SBA Deputy Administrator Nominee Dilawar Syed will join us at the top of the call, so I hope all of you can join us!!
Remember, this is your last chance to respond to the Gusto-NAWBO Survey, so please respond and encourage your members to respond as well. Here is the link: https://www.surveymonkey.com/r/NAWBO_GUSTO
Congress came back this week, but we haven't moved much in the way of legislation. The President says there close, but Senator Manchin says that’s not the case.
This week the President told Democrats to scale back the Build Back Better or Budget Reconciliation plan to $1.9 trillion. He also spent time this week speaking with progressives and moderate Democrats on the package. In his discussions, it sounds like changes are happening. From the President's remarks in a Town Hall and some news reports, it seems that the Child Tax Credit will only extend for another year. Other changes may include family leave going down to four weeks and cutting funding for community colleges to provide free prekindergarten services. According to recent news reports, one of the reasons for the cuts is Senator Kyrsten Sinema's (D-AZ) staunch opposition to any tax rate increases for businesses, high-income individuals, or capital gains, removing potential pay fors. This means it may be a tax on billionaire’s accrued wealth instead. Here’s a detailed article on the back and forth.
On the Infrastructure package front, the Federal Highway spending authority runs out on October 31, and we don't seem much closer to getting that package resolved.
Senate Appropriations Committee Chairman Patrick Leahy (D-Vt.) released the remaining nine Fiscal Year 2022 Appropriations Bills. Within the modified Financial Services and General Government bill,
- the Treasury Community Development Financial Institutions (CDFI) Fund is provided with $360 million to promote economic and community development in low-income communities.
- $1.035 billion for the SBA
- $169 million for SBA disaster loans
- $324 million for Entrepreneurial Development grants
- $140 million for Small Business Development Centers
- $26 million for Women's Business Centers
- $41 million for Microloan technical assistance,
- $3 million for a cybersecurity grant program.
- Wednesday, October 27, 2021- 10:00 AM- Hybrid Hearing: A Review of the SBIC Program (Subcommittee on Economic Growth, Tax, and Capital Access)
- Wednesday, October 27, 2021- 2:30 PM- Women Entrepreneurs: An Economic Growth Engine for America
Small Business Administration Updates:
- Are you a woman-owned small business interested in growing your business through federal contracting? Check out the Women-Owned Small Business Federal Contracting Program. Learn more
Want to hear more about NAWBO Advocacy efforts or get involved? Contact Elle Patout via email at email@example.com.