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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

 

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