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RELATED | NSBA Sets Its Priority Issues for Small Business at SBC this Feb. 6-7, 2025 In addition to

RELATED NEWS | NSBA, SBTC Tracking R&D Movement on Capitol Hill

More than 150 Small-Business owners came together to learn about, discuss, and ratify NSBA's Priority Issues through the 119th Congress. FOR IMMEDIATE RELEASE Friday, Feb. 7, 2025   Contact Molly Day 202-552-2904 press@nsba.biz Small Business Votes Extending Expiring Tax Provisions #1 Priority   Washington, D.C.  – The National Small Business Association (NSBA) has unveiled its Top Priorities for the 119th Congress, a result of its biennial Small Business Congress, held Feb. 6-7 in Washington, D.C. Small businesses selected extending the expiring Tax Cuts and Jobs Act (TCJA) tax provisions, improving small-business contracting, repealing the Corporate Transparency Act and improving access to capital among the top priorities for Congress and the administration to address in the coming two years.   “The overwhelming majority of small businesses are pass-throughs, paying business taxes at the individual income level which will leave millions facing major tax hikes in 2026 unless Congress extends the myriad tax breaks that were passed under the 2017 Tax Cuts and Jobs Act.,” stated Todd McCracken NSBA president and CEO. “Our members also continue to tell us what a major headache the ever-changing landscape of the CTA is—they need Congress to intervene and put this bad policy to bed for once and for all.”   NSBA’s Top Priorities for the 119th Congress are:   1.       Extend Expiring Tax Provisions 2.       Extend 199A Pass-Through Deduction 3.       Rein in the Costs of Health Care 4.       Repeal the Corporate Transparency Act 5.       Improve Access to Capital 6.       Strengthen SBA Office of Advocacy 7.       Eliminate the Self Employment Tax on Health Care 8.       Support Robust Small Business Contracting 9.       Strengthen Federal Innovation Programs 10. Strengthen SBA Lending   “At NSBA, through the Small Business Congress, we set the agenda, not special interest groups, not political parties, not corporate interests – small businesses set our agenda,” stated NSBA Chair Michael Canty, of Alloy Precision Technologies in Cleveland, Ohio. “This consensus agenda is a testament to the pragmatism and thoughtfulness of our members, a diverse group of small-business owners from every state and industry in the nation who work in a bipartisan fashion to get things done.”   Celebrating nearly 90 years in operation, 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. Please visit www.nsbaadvocate.org  or follow us at @NSBAAdvocate. ###

Stay two steps ahead with your small business. Subscribe to receive NSBA’s Real-Time Regulatory Updates. Register here! Regulatory Rundown: Sept. 23-Oct. 7 SBA announces new rule for refinancing debt . On Sept. 30, the Small Business Administration (SBA) announced  a new rule “that will make it easier for small business owners to refinance debt using the SBA 504 Loan Program .” Effective Nov. 15, the 504 debt finance direct final rule amends regulations governing the 504 Loan Program for debt refinancing with and without expansion. SBA urges Congress to replenish disaster loan program funds . Following President Biden’s Oct. 4 letter  to Congress addressing disaster relief needs in the wake of Hurricane Helene, SBA Administrator Isabel Casillas Guzman urged  Congress “to replenish the SBA’s vital disaster loan program for impacted small businesses, homeowners, renters, and non-profits before funds become depleted,” which SBA projects to occur before the end of October. SBA’s disaster assistance information is available here . SBA announces expansion of RIC network . On Oct. 3, the SBA announced the expansion of the agency’s Regional Innovation Cluster (RIC) network with 14 new awards at two funding levels: emerging clusters, which “develop and deploy small business support services in their designated regions and industries”, and master clusters, which “have experience building and implementing programming to support small businesses.”  Launched in 2010, the RIC Initiative promotes and supports “the development of geographically concentrated groups of businesses, suppliers, service providers, and associated institutions in a particular industry or field across the country.” SBA announces NVSBW. On Sept. 30, the SBA announced  it will celebrate National Veterans Small Business Week (NVSBW) from Nov. 11-15, which will offer both in-person and virtual events nationwide. This year’s NVSBW will feature SBA officials, resource partners, and local organizations, all of whom will highlight topics including military-to-civilian transition assistance, entrepreneurial training, and government contracting. SBA announces $20M in STEP grants. On Sept. 25, the SBA announced  $20 million in State Trade Expansion Program (STEP) grants  for 43 state and territory international trade agencies  to provide export assistance to small businesses. Funding became available to small businesses beginning Sept. 30. As of the announcement date, states have been authorized to solicit applications from small businesses for this assistance. DOL updates min. wage for federal contract workers . On Sept. 30, the Department of Labor (DOL) issued a notice  announcing its annual increase in the minimum wage rate for federal contract workers. Beginning on Jan. 1, 2025, the rate will increase to $17.75 per hour, which will apply to both non-tipped and tipped employees. DOL announces AI & Inclusive Hiring Framework . On Sept. 24, the DOL announced  the publication of its new tool, the AI & Inclusive Hiring Framework , “designed to support the inclusive use of artificial intelligence in employers’ hiring technology and increase benefits to disabled job seekers.” The framework seeks to help employers “reduce the risks of creating unintentional forms of discrimination and barriers to accessibility as they implement AI hiring technology.” DOD solicits funding to accelerate commercialization for critical tech . On Sept. 30, the Department of Defense’s (DOD) Office of Strategic Capital (OSC) announced  the release of the office’s first Notice of Funding Availability (NOFA)  for the acceleration of commercialization and scaling of production for critical technologies. The NOFA “will finance companies’ equipment needs to help them scale production in the 31 covered technology categories identified as promising critical technologies and assets in the National Defense Authorization Act for Fiscal Year 2024.”

.), this bill would create a program to train counselors at SBDCs to provide cybersecurity guidance S. 2521, the SBIC Advisory Committee Act of 2022 | Introduced by Chair Cardin and Sen. recommendations for increasing demographic and geographic diversity in SBA’s Small Business Investment Company (SBIC advisory committee would be required to submit a report to Congress with recommendations on how to expand SBIC For some context, in 2021, SBICs made 1,063 investments in small businesses, of which only 55, or five

NSBA and the Small Business Technology Council (SBTC) has been instrumental in helping to negotiate and Despite fully supporting passage of the final compromise bill, NSBA and SBTC were pushing for a permanent we experienced a more difficult reauthorization process,” stated Jere Glover, Executive Director of SBTC SBTC is a council of NSBA and focuses on critical high-tech and innovation programs through the federal NSBA and SBTC’s 65,000 members represent every state and every industry in the U.S., and we are proud

NSBA and its Small Business Technology Council (SBTC) has been instrumental in helping to negotiate and SBTC will also work with SBA and the agencies to better understand how these changes will be implemented NSBA and SBTC is closely monitoring progress of S. 4900, as well as maintaining all options for an SBIR While this bill falls short of long-term priorities for NSBA and SBTC—it includes a three-year reauthorization

SBTC will continue to push the Senate to pass a fix to the Sec. 174 R&D Tax deduction, and we will keep Learn more about SBTC.

NSBA and the Small Business Technology Council (SBTC) have been instrumental in helping to negotiate Despite fully supporting passage of the final compromise bill, NSBA and SBTC were pushing for a permanent we experienced a more difficult reauthorization process,” stated Jere Glover, Executive Director of SBTC NSBA and SBTC will continue to work with federal agencies as the new reporting requirements are put into

SBTC is NSBA’s hi-tech industry association of companies dedicated to promoting the creation and growth

RELATED | SBC: NSBA Membership Votes and Ratifies Priority Issues for 2023-2024

top priority, which our members and leaders addressed during our most recent Small Business Congress (SBC Read our policy brief on SBA vacancies here, and please consider joining us at our upcoming SBC this