Washington Watch - January 29, 2014


Washington Watch - January 29, 2014

President Addresses the Union

Last night President Obama delivered his fifth State of the Union address- in what is a traditionally sweeping speech, the President touched on numerous issues of importance to his 2nd term priorities: health care, foreign policy, military strength, income inequality, and immigration reform.

Perhaps the biggest announcement, specific to the self-employed and small business community, is the creation through Executive Order new retirement savings tool targeted for small business owners “MyRA”. This savings account would be offered through a familiar Roth IRA account and, like savings bonds, would be backed by the U.S. government.

Missed the President’s State of the Union address? Read the full speech here.

In a statement immediately following the President’s comments, NASE President and CEO Keith Hall had this to say:

“America’s smallest businesses – the self-employed and micro-businesses – stand ready to help put our country back on track and move our nation forward. But, we need support from our elected leaders to create the economic environment for small businesses to grow, expand and keep our doors open. When the small business community thrives, our economy strengthens.”

Read NASE’s full statement on the 2014 State of the Union

NASE Supports the Creation of Copper Level Coverage in ACA Exchanges

The NASE recently announced its support of S. 1729, The Expanded Consumer Choice Act, introduced by Senator MarkBegich (R-AK). The law would create a new level of coverage, Copper, in the Exchange Marketplace, joining the Platinum, Gold, Silver, and Bronze levels.

The new copper plans would require a 50 percent actuarial value, ensuring that at least half of the costs of covered medical services will be paid by insurers, and that consumers who purchase these plans may qualify for premium credits and cost-sharing subsidies.

To learn more about S. 1729, read the full text of the introduced legislation.

House Small Business Committee Holds Hearing on SEC Rules on Crowdfunding

On Thursday January 16, 2014, the Committee on Small Business Subcommittee on Investigations, Oversight and Regulations held a hearing titled, "SEC's Crowdfunding Proposal: Will it Work for Small Businesses?"

The hearing was focused on examining the proposed implementation of the crowdfunding provisions included in the JOBS Act of 2012 by the Securities and Exchange Commission.

You can read the witness testimony and learn more about the impact of the proposed rule by the Securities and Exchange Commission.

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