NAWBO National 116th Congress Bipartisan Advocacy Efforts | NAWBO

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NAWBO National 116th Congress Bipartisan Advocacy Efforts

Small Business Owners' Simplification Tax Act 

Background: NAWBO National is pleased to support this bipartisan legislation introduced by House Small Business Committee Ranking Member Steve Chabot that would provide small business owners with much needed clarity as they navigate the complex United States tax code by updating the code to reflect both technological advancements and modern business models. More specifically, the bill: · Aligns quarterly reporting deadlines with actual quarter ends; · Aligns income tax filing thresholds for consistency (1099-MISC, 1099k, etc.); · Updates electronic signature requirements; · Outlines anti-fraud measures by requiring pre-notification testing of recipient information before direct deposits can be refunded; · Allows small business owners to both offer and participate in Cafeteria Plans (HSAs, dental plans, etc.) Current IRS interpretation prevents small business owners from participating; · Excludes self-employment income from Social Security Quarters Coverage; · Excludes loan forgiveness from being counted toward income for entrepreneurs who work in high-need and distressed areas; · Allows voluntary withholding agreements (withholding a certain amount from an employee’s payroll check) without impacting a worker’s classification status; and · Allows voluntary training services (safety courses, tax compliance courses, etc.) to be offered to contractors without impacting a worker’s classification status.

Letter of Support: https://www.nawbo.org/sites/nawbo/files/Letter%20of%20Support_Small%20Business%20Owners%20Tax%20Simplification%20Act.pdf

When asked how the tax reform package of 2017 has impacted their business, NAWBO members responded saying:

Overall impact positive: 17.86%
Overall negative impact: 10.59%
Overall impact neutral: 26.38%
Too soon to tell: 45.17%


Controlling Healthcare Costs

Background:  During last fall’s Small Business Roundtable (SBR) post-election survey and action event, we found that health care ranked #1 among respondents when it comes to the chief concerns of small business owners. This issue was raised during a call with our NAWBO National Workforce Council and it resonated there as well. To that end, NAWBO National signed two letters of support for bills aiming to control health care costs for business owners. (1) S.80 - The Jobs and Premium Protection Act, introduced by Sen. John Barrasso (R-WY), aims to control health care costs for business owners by repealing the annual fee. (2) S.172 - Health Insurance Tax Relief Act of 2019, introduced by Sen. Cory Gardner (R-CO), brings relief to businesses by extending the current moratorium through 2021. S.80
Letter of Support: https://www.nawbo.org/sites/nawbo/files/Letter%20of%20Support_S.80%20-%20Jobs%20and%20Premium%20Protection%20Act_Barrasso%20signed.pdf S.172
Letter of Support: https://www.nawbo.org/sites/nawbo/files/Letter%20of%20Support_S.172%20-%20Health%20Insurance%20Tax%20Relief%20Act%20of%202019_Gardner%20signed.pdf


S. 673 EXPANDING CONTRACTING OPPORTUNITIES FOR SMALL BUSINESSES ACT OF 2019

BACKGROUND S.673 - Expanding Contracting Opportunities for Small Businesses Act of 2019, from Senators Joni Ernst (R-IA) and Tammy Baldwin (D-WI), sets out to amend the Small Business Act to eliminate the inclusion of option years in the award price for sole source contracts to grant more opportunities for small businesses to compete for federal contracting opportunities. It also requires contracting officers to notify and coordinate with the SBA to ensure eligible small businesses are winning sole-source awards. A bipartisan version of this bill was passed by the U.S. House earlier this year. S.673

Letter of Support: https://www.nawbo.org/sites/nawbo/files/Letter%20of%20Support_S.673-%20The%20Expanding%20Contracting%20Opportunities%20for%20Small%20Businesses%20Act_Ernst.pdf


H.R.1909 THE HELPING ANGELS LEAD OUR STARTUPS (HALOS) ACT

Background: House Small Business Committee Ranking Member Steve Chabot (R-OH) alongside Rep. Brad Schneider (D-IL) reintroduced H.R. 1909, the Helping Angels Lead Our Startups (HALOS) Act, bipartisan legislation to increase investment in America’s startups. This legislation provides important clarification to the definition of angel investor groups and exempts “demo days” from the Securities Exchange Commission’s General Solicitation rules thereby increasing investment in our country’s startups. H.R.1909
Letter of Support: www.nawbo.org/sites/nawbo/files/Letter%20of%20Support_HALOS%20Act_Chabot.pdf


H.R. 1994 THE SETTING EVERY COMMUNITY UP FOR RETIREMENT ENHANCEMENT (SECURE) ACT OF 2019

BACKGROUND Introduced by Chairman of the Ways and Means Committee Richard Neal (D-MA-1) this bipartisan legislation will expand opportunities for Americans to increase their retirement savings and improve the portability of lifetime income options from one plan to another. The U.S House passed the SECURE Act on May 23 with a vote of 417-3. Next we would like action in the U.S. Senate. The NAWBO National Annual Membership Survey reveals that too few of our members are preparing for retirement for themselves or their employees. This is an all too common problem among small business owners. H.R.1909
Letter of Support: https://www.nawbo.org/sites/nawbo/files/Letter%20of%20Support_The%20Setting%20Every%20Community%20up%20for%20Retirement%20Enhancement%20(SECURE)%20Act%20of%202019_%20Neal.pdf


SMALL BUSINESS ADVANCED CYBERSECURITY ENHANCEMENT ACT OF 2019

BACKGROUND This proposed legislation introduced by the Ranking Member of the House Small Business Committee Steve Chabot (R-OH) would direct the Small Business Administration in coordination with the Department of Commerce to create a central small business cybersecurity assistance unit as well as small business cybersecurity assistance units in each small business development center. H.R. 1648

Letter of Support: https://www.nawbo.org/sites/nawbo/files/Letter%20of%20Support_Small%20Business%20Advanced%20Cybersecurity%20Enhancement%20Act%20of%202019%20_Chabot.pdf


SCHATZ, MURKOWSKI BIPARTISAN RESOLUTION TO ENSURE FAIR CENSUS

BACKGROUND U.S. Senators Brian Schatz (D-Hawai‘i) and Lisa Murkowski (R-Alaska)’s bipartisan resolution to ensure the 2020 Census is fair and accurate. The resolution encourages individuals, families, and households across the United States to take part in the Census so that all communities can be counted. For NAWBO Members, a robust data set provides business owners with better information to make knowledgeable decisions about scaling their business into the next decade.

NAWBO National is proud to support this resolution.

More in the press release here: https://www.schatz.senate.gov/press-releases/schatz-murkowski-urge-passage-of-bipartisan-resolution-to-recognize-critical-role-of-census-importance-of-full-and-accurate-count


ENHANCING ENTREPRENEURSHIP FOR THE 21ST CENTURY

BACKGROUND As you may know, new business formation rates have fallen to a 40-year low. NAWBO, like many of our peers in the business community, is concerned about what this will mean for our country’s innovative and economic future.

In November, the U.S. Senate introduced the Enhancing Entrepreneurship for the 21st Century Act, a bipartisan bill co-sponsored by Senators Amy Klobuchar (D-MN) and Tim Scott (R-SC),which would require a collaborative effort between all relevant government agencies to produce a comprehensive study into the underlying factors driving the current “startup slump.” In addition, the House Entrepreneurship Caucus introduced a companion bill to the NAWBO supported, S.2535 Enhancing Entrepreneurship for the 21st Century Act. The House Entrepreneurship Caucus Co-Chair Congressman French Hill (AR-02), introduced H.R. 4960 Enhancing Entrepreneurship for the 21st Century Act. Original cosponsors of the bill included Entrepreneurship Caucus Co-Chair Congressman Bill Foster (D-IL), Congressman Steve Chabot (R-OH), Congresswoman Stephanie Murphy (D-FL), Congressman David Schweikert (R-AZ) and Congressman Marc Veasey (D-TX).

NAWBO is a proud supporter of this bipartisan effort to receive sound research to help advance entrepreneurship in America.

 


EMPLOYER PARTICIPATION IN REPAYMENT ACT OF 2019

BACKGROUND The Employer Participation in Repayment Act of 2019 is a bipartisan bill introduced by U.S. Representative Scott Peters (CA-52), which would expand the tax exclusion for employer-provided educational assistance to include payments of qualified education loans by an employer to either an employee or a lender. The bill is designed to help level the playing field for small business owners to attract and retain employees.

NAWBO is a proud supporter of this bipartisan effort.


SMALL BUSINESS TAX FAIRNESS AND COMPLIANCE SIMPLIFICATION ACT

H.R. 1349 - the Small Business Tax Fairness and Compliance Simplification Act is a bipartisan bill introduced by U.S. Representatives Darin LaHood (R-IL) and Suzan DelBene (D-WA). The bill would extend the tax code’s Federal Insurance Contributions Act (FICA) tax tip credit to the tens of thousands of employer-based beauty service establishments where tipping is also customary.  The FICA tax tip credit is part of an integrated compliance system that has been effective in ensuring the accurate reporting of tip income and reducing the tax gap.  The credit acts as a reimbursement for the costs employers incur in accounting for tip income.  By reducing the tax burdens for tipped employees as well as improving reporting of tip income, H.R. 1349 would provide equitable treatment to the beauty industry, allowing them to support their employees and grow their businesses.

NAWBO is a proud supporter of this bipartisan effort.

Letter of Support: https://www.nawbo.org/sites/nawbo/files/Letter%20of%20Support_Small%20Business%20Tax%20Fairness%20and%20Compliance%20Simplification%20Act_LaHood.pdf


IMPROVING MICROLOAN PROGRAMS

In March of 2020, U.S. Representatives Tim Burchett (R- TN) and Andy Kim (D- NJ) introduced the Bipartisan “Microloan, Major Impact” Package which includes the Microloan Transparency and Accountability Act of 2020 (H.R.6078) and Microloan Improvement Act of 2020 (H.R. 6079). These two bills would increase the size of, and ease of obtaining microloans through the Small Business Administration.

The Microloan Improvement Act would increase the number of nonprofit, community-based lenders eligible for the lowest interest rate on loans from the SBA and allow these lenders to offer lines of credit to small businesses while extending the maximum repayment term for loans.  

The Microloan Transparency and Accountability Act would enhance microloans in rural areas and provide new reporting to Congress to ensure that the program is best serving America’s small business owners.

NAWBO is a proud supporter of these bipartisan bills.

Press Release: https://www.nawbo.org/press-release/nawbo-national-applauds-bipartisan-efforts-improve-microloan-programs


CORONAVIRUS ADVOCACY EFFORTS

Throughout the Coronavirus pandemic, NAWBO National has been working across the aisle to advance legislative efforts to improve the economic climate for our nation’s business owners.

May 20, 2020

NAWBO National sends a press release in support of the bipartisan S. 3612, the Small Business Expense Protection Act of 2020. Introduced by U.S. Senators John Cornyn (R-TX), Finance Committee Chairman Chuck Grassley (R-IA), Finance Committee Ranking Member Ron Wyden (D-OR), Small Business Committee Chairman Marco Rubio (R-FL), and Tom Carper (D-DE), S. 3612 would allow businesses to deduct expenses paid with a forgiven PPP loan from their taxes.

May 19, 2020

NAWBO signed on to the letter with several other small business organizations supporting the Paycheck Protection Flexibility Act cosponsored by Representatives Chip Roy (R-TX) and Dean Phillips (D-MN).

May 4, 2020

NAWBO sends a letter to Treasury and the Small Business Administration requesting more guidance on the forgiveness section of the Paycheck Protection Program. The message focused on three main areas, including the application for forgiveness, clarification for the eight-week covered period, and the twenty-five percent requirement.

April 21, 2020

NAWBO signs on to the letter with the Economic Innovation Group (EIG), along with leading associations and organizations representing the industries and small businesses most deeply affected by COVID-19, released a letter to House and Senate leadership calling for Congress to swiftly implement structural improvements to the Paycheck Protection Program (PPP).

April 8, 2020

NAWBO, along with the Small Business Roundtable, sent their recommendations for the next round of Coronavirus relief. Click here to see the letter.

April 1, 2020

NAWBO, along with eight other small business organizations as part of Small Business Roundtable, sent a letter requesting additional clarity on the Paycheck Protection Program.

March 24, 2020

NAWBO signs on to a letter sent to U.S. Senate and House Leadership urging an enhancement of SBA 7(a) loan program.

March 21, 2020

NAWBO signs on to a letter sent to U.S. Senate Small Business and Entrepreneurship Committee discussing small business contracting community concerns.

March 18, 2020

NAWBO signs on to the letter sent to Majority Leader McConnell, Minority Leader Schumer, Speaker Pelosi, and Republican Leader McCarthy, detailing recommendations submitted by organizations on behalf of the 30 million small businesses. Click here to see text of the letter.

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