Policy Statements

Today, Small Business Majority submitted comments to the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation regarding proposed rules changes to the Community Reinvestment Act. Some of Small Business Majority's concerns include that these proposed changes would negatively impact underserved entrepreneurs in low and moderate income (LMI) communities and disincentive banks from making qualified smaller-dollar loans that are the lifeblood of small businesses. 

On March 22, Small Business Majority sent a letter to Senate and House leadership calling on Congress to provide immediate grant assistance to small businessses being harmed by COVID-19. 

As cases of COVID-19 continue to rise throughout the country, so does its impact on our economy. From stock market dips to decreased foot traffic in thriving neighborhoods, it's vital that our federal and state officials enact short and long-term policies that will offset these effects, particularly for our small business community, whose success is critical to our nation's economic health. Focusing on key policy issues will help support America's job creators. 

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Small Business Majority submitted a letter of support to the House Committee on Finance on HB 1109, corporate income tax; combined reporting requirements; disclosures. Currently, many multi-state corporations are able to take advantage of accounting measures to reduce their state tax bills by shifting their profits to a state that tax it at lower rates, giving them an unfair advantage over small businesses. HB 1109 would level the playing field for small businesses in Virginia that are unable to use loopholes to lower their tax bills.