Small Business Majority submitted written testimony during Virginia's General Session in support of HB 1787, which would establish an state income tax exclusion for Paycheck Protection Program (PPP) borrowers. Small Business Majority called on the House Committee on Finance to support the legislation as it would help small buisnesses by creating parity in how PPP funds are treated at the federal and state level.
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.
Small Business Majority has released its comprehensive state policy agenda to ensure entrepreneurship is at the center of a thriving and inclusive economy in Virginia during and after the COVID-19 pandemic. It’s critical that state lawmakers enact both short- and long-term policies to support and empower these entrepreneurs by guaranteeing that they have access to capital to maintain and pivot their business, affordable and quality healthcare and the tools and benefits they need to sustain themselves now and in the future.
Today, Phillip "Ace" Jones submitted his support for the Department of Small Business and Supplier Diversity's disparity study. As an African American small business owner, Phillip knows first-hand why it's critical to help illuminate the barriers women- and minority-owned small businesses face in the Commonwealth.
Today, Small Business Majority submitted testimony to the Virginia Department of Small Business and Supplier Diversity who, along with BBC Research and Consulting, are conducting a disparity study in Virginia. A disparity study is an essential first step towards passing policy solutions that would allow more women- and minority-owned small businesses to compete on a level playing field with other businesses.
Today, Small Business Majority submitted a letter of support for Amendment Item 4-14 #5-H, Tax Credit for PPE Purchased by Small Business and Other Organizations. This would create a tax credit for the purchase of personal protective equipment (PPE) by small businesses, sole proprietors and other eligible organizations. The amendment also specifies that the credit is meant to include women-owned and minority-owned businesses, as these are groups that are often left behind by the tax code.
Small Business Majority released its agenda today for Virginia's Entrepreneurs ahead of the 2020 Special Session, which begins on Tuesday, August 18th. The agenda calls for key policy solutions to support small businesses in the state including access to responsible small busuiness lending and expanding healthcare access and affordability.
On January 27, 2020, Small Business Majority's Government Affairs Manager, Awesta Sarkash, testified before Virginia's Senate Committee on Commerce and Labor, in support of SB 404, health insurance; short-term limited-duration medical plans. Protecting the individual marketplace is important to entrepreneurs because many self-employed individuals and small business employees rely on the marketplace to purchase coverage.
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.
Small Business Majority submitted a letter of support to the House Finance Committee on HB 1435, a refundable earned income tax credit for low-income taxpayers. This bill would support entrepreneurs, as well as many low-wage small business employees, by allowing low-income individuals to claim more money. This would put money back into their pockets and help grow their businesses, as well as their customers and local economies.