Washington Watch - May 23, 2012


Washington Watch - May 23, 2012

National Small Business Week Highlights Continued Issues With Access To Capital

National Small Business week kicked off on Sunday, May 20th with the Small Business Administration’s (SBA) annual conference in Washington, D.C. While the conference aims at highlighting the work of the SBA on behalf of the small business community over the past year, it also provides a forum to recognize what still can be done to support small-business growth in our country.  

One of the biggest issues to be tackled in the coming months is the challenge of accessing the capital needed to start and grow a business, re-enforced over and over again in testimonials by small-business owners. The access to capital issue remains the biggest deterrent to growth and expansion within the small business community, an issue aggressively tackled by the SBA, but remains a challenge. The clear evidence that SBA backed loans has spurred some of the country’s most successful businesses, including Apple, Microsoft, and Under Armour (founder Kevin Plank was a guest at this year’s National Small Business Week) provide a great narrative, however, real changes to lending laws and further encouragement within the banking sector remain.

One effort on Capitol Hill supported by the National Association for the Self-Employed is S. 2231, The Credit Union Member Business Lending Bill, focused on raising the lending cap imposed on credit unions. The bill would free-up nearly $13 billion in available capital from credit unions to small business owners and is estimated to support nearly 140,000 new jobs. More capital means more jobs. 

NASE Support Letter For Tax Extenders

The NASE has joined other small-business organizations to support S. 2050, The Small Business Tax Extenders Act of 2012. 

Read more here.

Federal/State Spending On Welfare To Work Programs

As part of welfare reform in 1996, States were given a Federal block grant for the Temporary Assistance for Needy Families (or TANF) program which maintained record Federal spending on welfare.  At the same time, States were allowed to reduce State spending to as little as 75 percent of prior levels under “Maintenance of Effort” or “MOE” requirements.  This requirement was meant to ensure a continued Federal/State partnership in helping families move from welfare to work.

Read more about this House hearing here.

Washington Watch Online

Visit NASE Advocacy to view archived editions of Washington Watch. While you’re there, read the latest updates from the Washington, D.C. office, write your Congressperson, and find out how you can join the fight for micro-business.

Courtesy of NASE.org