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News & Press: WIPP Legislative Updates

House Appropriations Committee Finishes Up FY17 Work

Monday, June 13, 2016  
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House Appropriations Committee Finishes Up FY17 Work

 

The numbers are in and the House Appropriations Committee has given women entrepreneurs reason to celebrate this week. The Committee finalized its Financial Services and General Government appropriations bill for FY17 with a markup on Thursday, providing funding levels for critical Small Business Administration (SBA) programs.

 

The Women’s Business Center (WBC) program was a big winner, hitting a record high of $19 million. Just last year, the program received a substantial bump to $17 million and another increase for FY17 is directly attributable to the advocacy efforts of the women’s business community.

 

While WBCs provide excellent counseling and training, access to capital remains another key issue for women entrepreneurs. That is why WIPP supports the SBA’s Microloan program, where women business owners make up nearly 60% of loan recipients.  Microloans are defined as loans of up to $50,000 and the program also funds business counseling that accompanies the loan. The Committee increased funding for the program by 25% for both lending and business assistance.

 

The House Committee also met WIPP’s request for the SBA’s Office Advocacy. Designed to be the regulations watchdog on behalf of small businesses, this small office does exceptional work. It will have more resources at its disposal next year with a $9.3 million dollar funding level – the 3rd straight year of funding increases.

 

In addition to funding levels, WIPP members can also celebrate the SEC Small Business Advocate Act – a policy directive in the bill, which gives small businesses a permanent voice at the Securities and Exchange Commission (SEC). The advocate will ensure that the needs of small businesses are considered when the SEC establishes policy and makes rules affecting capital formation.

 

The Senate Appropriations Committee is set to publish their funding bills for the SBA this week. On Tuesday, the Subcommittee on Financial Services and General Government will hold a markup the FY17 appropriations bill. The full Appropriations Committee will follow with a markup on Thursday

 


more Calendar

10/18/2016
WIPP Procurement Committee Meeting (4th Quarter)

10/20/2016
Access to Capital Committee Meeting

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