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.

Today, Small Business Majority submitted a letter regarding the Consumer Financial Protection Bureau's proposals under consideration for the implementation of Dodd Frank Section 1071. Successful implementation of Section 2071 would ameliorate the systemic barriers that women business owners and entrepreneurs of color face when attempting to access capital to start, grow and sustain their enterprises. 

Today, Johnathon Bush, small business owner of Not Just Cookies in Chicago, Illinois, submitted his testimony for the U.S. House Committee on Small Business's hearing on Transparency in Small Business Lending. Johnathon details the harmful impacts that a lack of transparency in small business lending has done to his business, which he built from the ground up.

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.