Regulations

Small Business Majority welcomes the opportunity to comment on the advanced notice of proposed rulemaking issued by the Treasury Department’s Financial Crimes Enforcement Network (FinCEN), titled “Beneficial Ownership Information Reporting Requirements," regarding the implementation of the recently enacted Corporate Transparency Act of 2020 (CTA). An anti-money laundering measure, the CTA requires FinCEN to establish a secure, private database to which U.S. companies submit basic identifying information of their true, “beneficial” owners.

Today, John Arensmeyer submitted a letter to congressional House and Senate leadership outlining the key provisions in the American Families Plan that would support small businesses. Additionally, the letter provides recommendations for how to structure tax reforms to ensure they level the playing field for small businesses. 

Founder and CEO, John Arensmeyer, submitted a letter to Senate leadership urging for the swift confirmation of President Biden's nominee for Deputy Secretary of the Department of Commerce, Don Graves. 

Small Business Majority submitted testimony to the Senate State, Veterans, & Military Affairs Committee in suport of House Bill 21-1222, which would would classify child care homes as residences for purposes of licensure and local regulations. 

Colorado Director Lindsey Vigoda testified to the Colorado House Business Affairs & Labor Committee in support of House Bill 21-1167, which would cap retainage for all public and private entities at 5% and allow small construction and subcontract firms to be more competitive against larger firms.

Today, Small Business Majority submitted a letter to the U.S. Senate Committee on Health, Education, Labor and Pensions urging for members to swiftly confirm Julie Su as President Biden's nominee for Deputy Secretary of Labor. Ms. Su is the current Secretary for the California Labor and Workforce Development Agency and has a distinguished career. Small Business Majority has worked closely with Secretary Su to support workforce issues in California, including the Future of Work Commission and the Employer Training Panel, which she oversaw.

Today, Small Business Majority submitted a letter calling on the Small Business Administration (SBA) to reopen the Paycheck Protection Program (PPP) for all self-employed individuals and sole proprietors who previously received PPP loan funds based on their net profits. PPP loans were originally calculated using net profits, which resulted in very low amounts after accounting for business deductions.

With yesterday's committee confirmation of Isabel Guzman, Small Business Majority submitted a letter to leadership urging the Senate to swiftly confirm President Biden's nominee for Administrator of the U.S. Small Business Administration. 

Today, Small Business Majority sent a letter of opposition to the Virginia Assembly opposing SB 1341, association health plans. These plans would have negative impacts on the marketplace- and consequently on small businesses that already struggle with healthcare costs. Ensuring strong and robust individual and small group healthcare marketplaces is vitally important to Virginia's entrepreneurs because this is essential to keeping costs down for business owners and their employees.