National

Following the recent reintroduction of a bipartisan legislative package to expand the Employer-Provided Child Care Tax Credit (45F) and increase the supply of childcare, Small Business Majority sent a letter to sponsor offices emphasizing the need to invest in childcare beyond the 45F tax credit, which has historically benefited larger businesses and remained an impractical option for most small businesses.

On February 25, the Small Business Tax Fairness Coalition (SBTF) sent a petition to Capitol Hill signed by nearly 250 small business owners from across the country which urges Congress to prioritize small business growth and protect access to healthcare through targeted tax reform. The petition outlines how Congress can support small businesses by reforming the 199A pass-through deduction, expanding the Child Tax Credit (CTC), extending the Affordable Care Act's Enhanced Premium Tax Credits, and adopting commonsense revenue measures, such as raising the corporate tax rate.

On February 21, Small Business Majority submitted a Statement for the Record in response to a recent U.S. House Committee on Small Business hearing titled “Driving Economic Growth: SBA Lending Programs and the Vital Role of Community Banks.” The statement emphasizes the need to protect Section 1071 of the Dodd-Frank Act to enhance transparency in small business lending, expand access to small-dollar loans, and support the ongoing implementation of the State Small Business Credit Initiative (SSBCI).

On February 24, Small Business Majority sent a letter to House leadership in opposition to the Republican budget resolution which outlines up to $2 trillion in spending cuts and makes way for upwards of $4.5 trillion in tax cuts that will largely benefit large corporations at the expense of small businesses. This destructive spending plan would cut funding for the programs that small businesses rely on everyday, including Affordable Care Act (ACA) subsidies, Medicaid, and U.S. Department of Agriculture loan and grant programs that support rural businesses and farmers.

On February 14th, Small Business Majority submitted comments in support of the Small Business Administration’s (SBA) proposed rule to encourage faster payments to small business subcontractors and streamline the reporting process for prime contracts. Our comments emphasize the need to hold prime contractors accountable for timely payments to small business subcontractors and to enhance transparency in the federal procurement system, ensuring better access to federal contract opportunities for small businesses.  
 

On February 5, Small Business Majority submitted a statement for the record to the House Committee on Financial Services which cautioned Congress against pursuing legislative efforts to repeal Section 1071 of the Dodd-Frank Act.