As Congress resumes its session, the House has slated discussion on six bills related to small businesses and the Small Business Administration (SBA) this week. Notably, a key element of this legislative package is geared towards fortifying safeguards against Paycheck Protection Program (PPP) loan fraud. Specifically, HR 4666 mandates the SBA inspector general to provide Congress with regular updates on loan fraud issues, while HR 5427 prohibits individuals convicted of PPP fraud from obtaining future SBA assistance. Additionally, these bills propose enhanced scrutiny of the SBA’s operations by necessitating periodic reporting to Congress on various aspects, including veteran-owned businesses and women-owned businesses.
In The States
Half of all U.S. states will see minimum wage increases beginning in 2024; seven states will set minimum wage at $15 an hour, more than double the federal minimum wage. Hawaii, Nebraska, Delaware, and Maryland will see the highest raises, while new ballot measures to raise the minimum wage are being advocated for in California, Alaska, Missouri, and Oklahoma.
The New Jersey Department of Labor and Workforce Development has committed $10 million to enhance apprenticeship training centers. This move works to address a heightened demand for skilled labor amid a surge in infrastructure and public works projects statewide.