Policy News - June 10th, 2021 - Association for Enterprise Opportunity

Advocacy at AEO: President & CEO Connie Evans Seeks Reauthorization of the State Small Business Credit Initiative in Response to Treasury Department.

The Department of Treasury released a Request for information to invite the public to comment on the SSBCI program design and implementation. The goal of the RFI is to garner expertise that can be used by the Treasury to assist in developing program design and guidance. Responses may also be used to inform the Treasury’s allocation of technical assistance funding to states, territories, and Tribal governments, the Minority Business Development Agency (MBDA), and programs implemented directly by the Treasury.

In the response, Connie Evans provided compelling testimony of the impact of the Obama-era SSBCI program, and urged officials to include the CDFI community in developing its approach to deploying the $500M earmarked for technical assistance. Additionally, AEO seeks to strengthen the relationship between the SSBI program and the Department of Commerce’s Minority Business Development Agency (MBDA).

Click here to learn more about AEO’s recommendations.

Happening on the Hill

The House

The Small Business Subcommittee on Contracting and Infrastructure will hold a virtual hearing on the “Utilization of Small Contractors in the Infrastructure Plan” Thursday, June 10 at 1:00 PM.

The Committee on Small Business Subcommittee on Economic Growth, Tax, and Capital Access will hold a hybrid hearing on “Reversing the Decline in Women Entrepreneurship: Opportunities for Rebuilding the Economy” on Tuesday, June 15 at 10:00 AM.

The Committee on Financial Services Task Force on Financial Technology will hold a virtual hearing on “Digitizing the Dollar: Investigating the Technological Infrastructure, Privacy, and Financial Inclusion Implications of Central Bank Digital Currencies” on Tuesday, June 15 at 10:00 AM.

The Committee on Financial Services Subcommittee on Housing, Community Development and Insurance will hold a virtual hearing on “Flexible Federal Funding: Examining the Community Development Block Grant Program and Its Impact on Addressing Local Challenges” on Wednesday, June 16 at 10:00 AM.

The Committee on Appropriations will hold a virtual hearing on “Department of the Treasury International Programs FY22 Budget Request” TODAY at 2:00 PM.

The Committee on Ways and Means Subcommittee on Oversight and Select Revenue Measures will hold a virtual hearing on “Minding the Tax Gap: Improving Tax Administration in the 21st Century” on Thursday, June 10 at 12:00 PM.

The Senate

Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development will hold a virtual hearing on “Local Leaders on the Infrastructure Needs Facing America’s States, Cities, and Towns” on Tuesday, June 15 at 10:00 AM.

Committee on Appropriations will hold a virtual hearing on “A Review of the President’s FY 2022 Funding Request and Budget Justification for the US Department of Housing and Urban Development” Thursday, June 10 at 10:00 AM.

Committee on Appropriations will hold a virtual hearing on “Fiscal Year 2022 Budget Request for the U.S. Department of Agriculture” on Tuesday, June 15 at 10:00 AM.

Committee on Finance will hold a virtual hearing on “The President’s FY 2022 HHS Budget” Thursday, June 10 at 10:00 AM.

Committee on the Judiciary will hold a virtual hearing for Executive Business on Thursday, June 10 at 9:00 AM.

Committee on the Judiciary will hold a virtual hearing on “Protecting Competition and Innovation in Home Technologies” on Tuesday, June 15 at 2:30 PM.

Bills of Interest

Rep. Victoria Spartz (R-IN-5) introduced a bill to amend section 2202 of the American Rescue Plan Act of 2021 to authorize States to expand the uses of the child care stabilization funds to include support to improve and increase the availability of safe child care facilities.
Rep. Devin Nunes (R-CA-22) introduced a bill to establish limitations on modifications to trade agreements.
Rep. Ralph Norman (R-SC-22) introduced a bill to amend the Congressional Budget and Impoundment Control Act of 1974 to provide for fair-value credit estimates.
Rep. Jerry McNerney (D-CA-9) introduced a bill to promote scientific research and development opportunities for connected technologies that advance precision agriculture capabilities.
Rep. Sean Patrick Maloney (D-NY-18) introduced a bill to provide loan forgiveness for certain borrowers of Department of Agriculture direct farm loans.
Rep. Jahana Hayes (D-CT-5) introduced a bill to establish an Educational Equity Challenge Grant program administered by the Department of Education.
Rep. Suzan DelBene (D-WA-1) introduced a bill to direct the Administrator of the Small Business Administration to establish a forgivable loan program for certain businesses located near the United States and Canadian border.