NASE Washington Watch - Get Small Business News and Small Business Legislation First March-25-2022

Washington Watch

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Washington Watch

Washington Watch - March 25, 2022

In this issue of Washington Watch, read about the bipartisan Ukraine aid bill and updates at the Small Business Administration.

Small Business Administration Updates

EIDL Deferment
The SBA Administrator recently announced additional deferment of principal and interest payments for existing COVID Economic Injury Disaster Loan (EIDL) program Borrowers for 30 months deferment from inception on all approved COVID EIDL loans. The Administrator believes the extended deferment period will provide additional flexibility to small business owners impacted by the pandemic, especially those in hard-hit sectors managing disruption with recent variants and current supply chain and inflation challenges amid a growing economic recovery.

Save the Date- National Small Business Week
The SBA announced that National Small Business Week (NSBW): Building a Better America Through Entrepreneurship will take place May 1-7, 2022.

NASE joined an expansive coalition in opposing “SHOP SAFE” provision included in the House “COMPETES BILL”.

This follows NASE's active advocacy in the spring 2021 to support efforts in the Senate to revise the INFORM Act that was ultimately successful and included in the USICA legislation passed by the Senate.

NASE believes that the INFORM Act changes address the concerns that supporters of the SHOP SAFE Act believe are important to ensure a competitive, international landscape, without harming small businesses that leverage online platforms.

Read the letter

What is Happening on Capitol Hill

This past week, the President signed the $1.5 trillion government funding bill with Ukraine aid. The funding bill, which received bipartisan approval, passed the Senate in a 68-31 vote and the House 361-69. This will provide funding through September 30, 2022.

The legislation will provide the following:

  • $13.6 billion in new aid to Ukraine
  • $730 billion in non-defense funding -- a 6.7% increase over fiscal year 2021 – to fund the majority of the President’s bipartisan infrastructure deal
  • $782 billion in defense funding, a 5.6% increase over fiscal year 2021. The government is now funded through fiscal year 2022, which started in October.

The bill did not include additional COVID-19 funding that was requested by the President.

In other Hill news, the Senate did pass a bipartisan bill to make daylight savings permanent. The House hasn’t said when they would take up the legislation, but Speaker Pelosi said she is supportive of the measure.

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