Policy News - May 20th, 2021 - Association for Enterprise Opportunity

Corinne Hodges, Chief Executive Officer of the Association of Women’s Business Centers, among other Small Business Administration (SBA) resource partners, provided testimony today during the Committee on Small Business Subcommittee on Innovation, Entrepreneurship, and Workforce Development’s hearing on the SBA’s Entrepreneurial Ecosystem: An Update and Next Steps with SBA’s Resource Partners. To watch the full hearing click here.

Tuesday, lawmakers learned about Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs), and discussed the impact these institutions have in their communities, especially with respect to supporting local entrepreneurs during theHouse Committee on Small Business Subcommittee on Economic Growth, Tax, and Capital Access held a hearing titled, “Examining the role of Community Development Financial Institutions and Minority Depository Institutions in Small Business Lending.”

On Tuesday, SBA Administrator Guzman announced a final push for the Restaurant Revitalization Fund Applications. According to the press release, eligible eating establishments have until Monday, May 24, 8 p.m. ET, to submit applications to the Restaurant Revitalization Fund.

The SBA released a $2.7 million grant for Women’s Business Center Resiliency and Recovery Demonstration. This grant program will be available for existing SBA-funded WBCs and the SBA anticipates making 14 awards of up to $200,000 per award with no matching requirement.

Happening on the Hill

The House

The House Committee on Financial Services will hold a hearing on The Legacy of George Floyd: An Examination of Financial Services Industry Commitments to Economic and Racial Justice Tuesday, May 25th at Noon.

The House Committee on Small Business will hold a hearing on An Examination of the SBA’s Covid-19 Programs May 26th at 12:00 PM.

The Senate

The Senate Committee on Banking, Housing, and Urban Affairs will hold a hearing on 21st Century Communities: Expanding Opportunity Through Infrastructure Investments Thursday at 10 AM.

Bills of Interest

Sen. Angus King (I-ME) introduced a bill to establish a competitive grant program to support the development, implementation, and evaluation of successful educator and school leader professional development programs on family engagement that will increase the capacity of educators and school leaders to work with families to develop and support the social-emotional learning of children.
Sen. Margaret Hassan (D-NG) introduced a bill to amend the Internal Revenue Code of 1986 to allow tax-exempt private activity bonds to be used for qualified broadband projects, to provide for tax credit payments to issuers of tax-exempt bonds used to finance broadband infrastructure projects, and to provide an investment credit for qualified broadband projects.
Sen. Gary Peters (D-MI) introduced a bill to amend title 49, United States Code, to promote transportation career opportunities and improve diversity in the workforce.
Sen. Marco Rubio (R-FL) introduced a bill to amend section 21 of the Small Business Act to require cyber certification for small business development center counselors, and for other purposes.
Sen. Jacky Rosen (D-NV) introduced a bill to provide direct appropriations for processing applications for the paycheck protection program, and for other purposes.
Sen. Marco Rubio (R-FL) introduced bill to require an annual report on the cybersecurity of the Small Business Administration, and for other purposes.
Rep. Alma Adams (D-NC) introduced a bill to provide for the long-term improvement of Historically Black Colleges and Universities, and for other purposes.
Rep. Dan Newhouse (R-WA) introduced a bill to support both workers and recovery by converting expanded Federal unemployment payments into signing bonuses.
Rep. Linda Sanchez (D-CA) introduced a bill to amend the Internal Revenue Code of 1986 to provide a nonrefundable credit for working family caregivers.