February 12, 2020

FY2021 Budget: Cuts to SBA

On Feb. 10, President Trump released his Fiscal Year (FY) 2021 Budget proposal which details plans for defense and non-defense discretionary spending. The budget blueprint outlines $4.8 trillion in annual spending and estimates the deficit would be cut in half by 2024, however such a drop is unlikely given the steep spending cuts Trump proposed for many agencies and somewhat unrealistic...

February 12, 2020

SBA Lending Rule Changes

Late last week, Senate Committee on Small Business and Entrepreneurship Chair Marco Rubio sent a letter to SBA Administrator Jovita Carranza calling for a delay to an interim final rule on SBA express loans. In his letter, he states, “I am deeply concerned that this rule will have a detrimental impact on America’s 30 million small...

February 12, 2020

House Small Business Committee Hearings

The House Committee on Small Business is holding two hearings this week: one on innovation and small-business collaboration with universities; the other on employee-owned small businesses. Innovation Pipeline ON Tuesday, Feb. 11, the Committee held a hearing, “The Innovation Pipeline: From Universities to Small Businesses,” focusing on the close relationships and frequent collaboration between small businesses and research universities. Among...

February 5, 2020

Small Business Reaction to State of the Union

On the evening of Feb. 4, President Donald Trump delivered his official State of the Union Address where he highlighted his administration’s work on tax reform and trade, among other successes, namely U.S. economic growth, he touted throughout his rallying speech. Below is a statement from NSBA President and CEO Todd McCracken: “Although the Tax Cuts and...

January 22, 2020

New Cybercrime Resources for Small Business

Cybercrime is a growing concern small-business owners fear as hackers become more savvy in how they target the smallest businesses. A new resource may help: FraudSupport.org is a new cybercrime recovery resource database powered by The Cybercrime Support Network. The resource is available to help individuals, small businesses, and law enforcement “Report, Recover...

January 15, 2020

Phase One China Deal Signed

Earlier today, President Trump and Chinese Vice Premier Liu He signed a “phase one” deal on trade, focusing on agricultural exports and China’s forced technology transfer.