The Small Business Administration (SBA) announced that it is now accepting applications for its new Community Navigator Pilot Program through July 12, 2021. The $100 million grant program enacted through the American Rescue Plan Act, will provide counseling, networking and the assistance to the small business community.
Senate Majority Leader Schumer has expanded and renamed his Endless Frontier Act, now referred to as the U.S. Innovation and Competition Act. This $200 billion legislation aims to strengthen the U.S. tech sector in competition with China, combat the current semiconductor shortage, and establish tech hubs in new places.
The proposal, subject to final changes, would:
- Provide $52 billion to support domestic semiconductor manufacturing
- Authorize $81 billion for the National Science Foundation from fiscal 2022 to fiscal 2026
- Authorize $16.9 billion for the Department of Energy over the same period for research and development and energy-related supply chains in key technology areas.
- Authorize $10 billion to NASA’s human landing systems program
The bill is expected to clear the chamber in the coming weeks, and Leader Schumer has stated that he is optimistic that the upper chamber will be able to pass the measure by the end of the week. If it is not passed this week, work on the legislation will be paused until the week of June 7.
Senate Republicans are crafting a close to $1 trillion infrastructure plan to counter the Biden Administration $1.7 trillion infrastructure package. They plan to present the package to the White House later this week. Notably, Sen. Roger Wicker has claimed that President Biden expressed he would support a $1 trillion plan over eight years.
Today, the Committee on Small Business will hold a hearing to examine the SBA’s Covid-19 Programs and the Committee on Small Business and Entrepreneurship will hold a hearing to examine the pandemic response and the small business economy, focusing on an update from the SBA.
Happening on the Hill
The House Committee on Financial Services will hold a virtual hearing on “Virtual Hearing – Holding Megabanks Accountable: An Update on Banking Practices, Programs and Policies” on May 27, 2021 at 12:00 PM.
The House Committee on Small Business will hold a hearing as “A Review of the SBA’s Grant Programs” on May 27, 2021 at 1:00 PM.
The House Committee on Education and Labor Higher Education and Workforce Investment Subcommittee will hold a hearing on the “Workforce Innovation and Opportunity Act Reauthorization: Creating Employment Pathways for Dislocated Workers” on May 27, 2021 at 12:00 PM.
The House Committee on Appropriations will hold a hearing on the “Small Business Administration Oversight Hearing” on May 28, 2021 at 10:00 AM.
Bills of Interest
Sen. Margaret Hassan (D-NH) introduced a bill to amend the Internal Revenue Code of 1986 to expand and modify employer educational assistance programs, and for other purposes.
- Sen. Cory Booker (D-NJ) introduced a bill to amend title XIX of the Social Security Act to provide a consistent standard of health care to incarcerated individuals, and for other purposes.
- Rep. Barbara Lee (D-CA) introduced a resolution titled, Third Reconstruction: Fully addressing poverty and low wages from the bottom up.
- Rep. Karen Bass (D-CA) introduced a bill to establish an expansive infrastructure program to create local jobs and raise the quality of life in every community, to launch middle class career pathways in infrastructure, and to invest in high-quality American jobs, and for other purposes.
- Rep. Ted Budd (R-NC) introduced a bill to incentivize American workers to seek and accept jobs, to aid the economic recovery by converting Federal pandemic emergency unemployment compensation into back to work bonuses, and for other purposes.
- Rep. Hakeem Jeffries (D-NY) introduced a bill to reform sentencing laws and correctional institutions, and for other purposes.
- Rep. Beth Van Duyne (R-TX) introduced a bill to amend the American Rescue Plan Act of 2021 to require increased oversight with respect to restaurant revitalization grants, and for other purposes.
At The Agencies
U.S. Department of the Treasury
Opening statements of nominees to the U.S. Department of the Treasury for the Senate Committee on Finance
U.S. Small Business Administration
SBA launches the ‘Community Navigator Pilot’ program application.