Small Business Priorities for the Lame Duck Congress

November 21, 2012

Washington, D.C. – As lawmakers return to Washington, D.C. this week for the lame duck session, the National Small Business Association (NSBA) is urging action on a number of issues. Addressing the fiscal cliff and sequestration are of the utmost importance, however, there are a number of small-business-supported bills that Congress ought to enact, contracting reforms, increasing credit union lending limits and cybersecurity, among the most critical.

“Congress faces some huge policy decisions, however there are a host of bills that have broad support and stand to greatly help America’s small businesses,” stated NSBA President Todd McCracken. “Whether it be improved credit union lending or contracting reforms.”

Among the top issues for the Lame Duck:

Tax Extenders – Various tax provisions set to expire at the end of 2012—including income tax cuts, the estate tax compromise and AMT patch—will hit countless small businesses. Instead of marching off the fiscal cliff, Congress needs to enact a reasonable phase-out of any tax provision which promotes economic prosperity—not threatens it.

Sequestration – NSBA is a strong proponent of addressing the national deficit and is calling on lawmakers to take a pragmatic and fair approach spending cuts, rather than a blunt, across-the-board cut. Congress must work to retain good programs and eliminate wasteful ones.

Contracting Reforms – Lawmakers are expected to work on passing the FY 13 National Defense Authorization Act, the House-passed version of which includes key small-business contracting reform improvements. NSBA is urging the Senate to include these provisions in the final bill

Credit Union Lending – Access to capital remains a problem for entrepreneurs, and NSBA is urging Congress to enact legislation to increase the business lending cap for credit unions

Cybersecurity Legislation –Addressing our cyber vulnerabilities is a critical issue for small businesses which face unique risks

Startup 2.0 Act – This bipartisan, pro-small-business legislation would require a cost-benefit analysis of regulations with an economic impact of $100 million or more, improve STEM visa availability and extend R&D tax credits and capital gains exemptions.

Celebrating its 75th anniversary, NSBA is a staunchly nonpartisan organization advocating on behalf of America’s entrepreneurs. NSBA’s 65,000 members represent every state and every industry in the U.S., and we are proud to be the nation’s first small-business advocacy organization. Please visit www.nsba.biz.

 

###