Today In Washington
February 13, 2018
Source: Jennifer White - Director, Government Relations
White House FY19 Budget Released – Yesterday, President Trump released his FY19 Budget Request. As a reminder, the President proposes, Congress appropriates. This budget is used as a blueprint of the Administration’s priorities and the numbers are used as a suggestion for Congress.
Small Business Administration (SBA) Breakdown:
- $53M (5.9%) decrease proposed from FY17 enacted level
- Program dollar amounts specified:
- SBA Business Loans: $43B
- TA Grant Funds for Microloan: $25M + $4M in subsidy resources to support $42M in direct lending
- Disaster Relief Lending to Businesses: $1B
- Small Business Development Centers (SBDC): $110M
- SBA’s Office of the Inspector General (OIG): $21.9M
- SBA Office of Advocacy: $21.9M
White House Infrastructure Plan Released – In addition to the FY19 Budget Request, President Trump released a 53-page infrastructure plan outlining his vision for generating $1.5 trillion for infrastructure over the next 10 years. The plan depends on funding from multiple sources, including state and local governments and private investment. Federal spending over this period totals $200 billion, with matching from state/local governments at a 4:1 ratio. The breakdown of the $200 billion is as follows:
- $100B – Incentives to local government entities to give non-federal funds (to reach the $1.5T Trump promised on the campaign trail)
- $20B – set aside to advance ”major infrastructure projects”
- $50B – Earmarked for rural block grants – which will be given to states based amount of rural area and population
- $20B – “Infrastructure related undertakings”
- $10B – Federal Capital Financing Fund
- Today @ 10am – Senate Budget Committee Hearing: “The President’s Fiscal Year 2019 Budget.” 608 Dirksen Senate Building.
- 2.14 @ 10:30 am – Senate Finance Committee Hearing: "The President's Fiscal Year 2019 Budget" with Treasury Secretary Steve Mnuchin.” 215 Dirksen Senate Building.
- 2.14 @ 10:45am – House Small Business Committee Markup: “Views and Estimates of the Committee on Small Business on Matters to be set forth in the Concurrent Resolution on the Budget for Fiscal Year 2019.” 2360 Rayburn House Office Building.
- 2.14 @ 11am – House Small Business Committee Hearing: “Job Creation, Competition, and Small Business’ Role in the United States Economy.” 2360 Rayburn House Office Building.
- 2.14 @ 2:30 pm – Senate Finance Committee Hearing: "The President's FY2019 Budget" with IRS Acting Commissioner and Asst. Secretary for Tax Policy David Kautter. 215 Dirksen Senate Office Building.
- 2.15 @ 9am – Senate Finance Committee Hearing: “The President’s Fiscal Year 2019 Budget.” with HHS Secretary Alex Azar. 215 Dirksen Senate Building.
- 2.15 @ 9:30am – House Financial Services Subcommittee on Financial Institutions and Consumer Credit Hearing: "Examining De-risking and its Effects on Access to Financial Services.” 2128 Rayburn House Office Building.
- 2.15 @ 10am – House Ways & Means Committee Hearing: “Hearing on the President’s FY2019 Budget Proposals with U.S. Secretary of the Treasury Steve Mnuchin.” 1100 Longworth House Office Building.
- 2.15 @ 10am – House Oversight and Government Reform Subcommittee on Government Operations Hearing: "General Services Administration - Checking In with the Government's Acquisition and Property Manager.” 2154 Rayburn House Office Building.
- 2.15 @ 10am – House Small Business Subcommittee on Agriculture, Energy & Trade Hearing: “Restoring Rural America: How Agritech is Revitalizing the Heartland.” 2360 Rayburn House Office Building.
- 2.15 @ 3:30pm – Senate Small Business Committee Hearing: “Nominations of David C. Tryon to be Chief Counsel for Advocacy of the Small Business Administration and Hannibal M. Ware to be Inspector General of the Small Business Administration.” 428A Russell Senate Office Building.
October 22, 2018
Treasury Releases Proposed Regulations on Opportunity Zones Designed to Incentivize Investment in American Communities
The IRS's proposed regulations clarify that any person that recognizes capital gain for U.S. federal income tax purposes is eligible to defer all or a portion of such gain by investing in an Opportunity Fund.
October 17, 2018
AEO Announces Hyacinth Vassell As Vice President of Innovation Engineering
AEO, a national nonprofit organization dedicated to the development of a robust marketplace for underserved microbusinesses, is proud to announce Hyacinth Vassell as Vice President of Innovation Engineering.