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The Small Business Administration has proposed a rule amending and updating regulations for the 7(a) Loan Program. This proposed rule will implement the Small Business 7(a) Lending Oversight Reform Act of 2018 and update the SBA’s regulations pertaining to supervision of all lenders participating in SBA’s business loan programs. In accordance with the John S. McCain National Defense Authorization Act (NDAA) for Fiscal Year 2019, the SBA has published a survey in relation to the SBA Microloan Program that will allow the program to conduct a study of microenterprise participation. The survey is to be completed by SBA Microloan intermediaries and entities that are eligible to become intermediaries. The SBA has also published a proposed rule that changes the period of measurement for a receipts-based size calculation from three years to five years, in accordance with the Small Business Runway Extension Act and as required by the National Defense Authorization Act (NDAA) for FY2020.

The Department of Labor (DOL) will release its proposal on industry-recognized apprenticeships. The proposed rule was scheduled for publishing at 8:45 AM and Labor Secretary Alexander Acosta will brief White House officials in a closed-door meeting. In a later meeting, Ivanka Trump will provide an update on individual companies’ 2018 pledges to create millions of new apprenticeships. Tomas Philipson, member of the Council of Economic Advisors, will discuss a new report on employment and training programs.

Today, the House Committee on Rules will FY 2020 Financial Services and General Government (FSGG) Appropriations bill (H.R.3351). The bill would provide $995.8 million for the Small Business Administration (SBA), a $280.4 million increase from 2019. Included is $281.8 million in funding for entrepreneurial development programs, with $30 million for Women’s Business Centers, and an increase in the authorization levels for SBA’s Business Loans Programs. A summary of the bill can be found here. The House will also consider the BRAVE Act (H.R. 2109) under suspension of the Rules. This act would allow preference to be given to offerors that employ veterans.

On the Hill

Floor Proceedings

House: In Session

  • The House will debate the BRAVE Act (H.R. 2109) under suspension of the Rules and continue consideration of H.R. 3055 – Commerce, Justice, Science, Agriculture, Rural Development, Food and Drug Administration, Interior, Environment, Military Construction, Veterans Affairs, Transportation, and Housing and Urban Development Appropriations Act, 2020 (Rep. Serrano – Appropriations)

Senate: In Session

  • The Senate has resumed consideration of the motion to proceed to S.1790, National Defense Authorization Act for Fiscal Year 2020.

Bills of Interest

  • A bill was introduced by Rep. Nydia Velazquez (D-NY) to amend the Small Business Act to give small business contracting credit for certain small businesses located in United States territories (HR 3428)

Committee Proceedings

House Committee on Education and Labor

  • There is no relevant news today

House Small Business Committee

  • Tomorrow, the committee will hold a hearing titled “Crushed by Confessions of Judgment: The Small Business Story”

House Committee on Financial Services

  • Today, the committee will hold a hearing titled, “Examining Legislation to Protect Consumers and Small Business Owners from Abusive Debt Collection Practices”
  • Tomorrow, the committee will hold a hearing titled, “Perspectives on Artificial Intelligence: Where We Are and the Next Frontier in Financial Services”

House Committee on Appropriations

  • There is no relevant news today

House Ways and Means Committee

  • Today, the committee will hold a hearing titled “Mexico’s Labor Reform: Opportunities and Challenges for an Improved NAFTA”

Senate Committee on Small Business and Entrepreneurship

  • Tomorrow, the committee will hold a hearing titled “Reauthorization of SBA’s Small Business Investment Company Program”

Senate Committee on Banking, Housing, and Urban Affairs

  • There is no relevant news today

Senate Committee on Health, Education, Labor, and Pensions

  • There is no relevant news today

Senate Committee on Appropriations

  • There is no relevant news today

Senate Committee on Finance

  • There is no relevant news today

Senate Judiciary Committee

  • On July 17th the committee will hold a hearing titled, “Oversight of the United States Copyright Office”
  • On July 23rd, the committee will hold a hearing titled, “Oversight of the Enforcement of the Antitrust Laws”

At the Agencies

Department of Labor

  • The DOL released a statement about major announcements on apprenticeship expansion

Department of the Treasury

  • The Department of the Treasury had a press release about the President of the Financial Action Task Force concluding his term

Small Business Administration

  • There is no relevant news today

Office of the US Trade Representative

  • The US Trade Representative released a joint statement on the 13th joint council meeting under the US-Sri Lanka trade investment and framework agreement

Department of Commerce

  • There is no relevant news today

Links You Can Use

For reviewing legislation and tracking appropriations: www.congress.gov
For reviewing proposed and pending regulation: www.federalregister.gov