Small Businesses Matter A B I P A R T

2 Table of Contents 4 SUPPORTING THE ‘BACKBONE’ OF THE ECONOMY 5 MEETING SMALL BUSINESSES’ CAPITAL NEEDS 9 E XPANDING SMALL BUSINESS PROCUREMENT 12 ENCOURAGING SMALL BUSINESS GROWTH 15 SUPPORTING THE SMALL BUSINESS WORKFORCE 22 CONCLUSION 3 Supporting the ‘Backbone’ of the Economy Supporting small businesses has long been a bipartisan priority. [...] This report draws on insights from a variety of BPC projects to articulate a small business agenda that includes some reforms to SBA programs but also goes beyond the agency’s scope to other areas of policy that matter to small businesses.a Developed to prioritize policy that makes a difference to a range of small businesses and about which bipartisan agreement can be built in an election year and. [...] Morgan McGarvey (D-KY) Directs SBA and the Department of Veterans Affairs Service-Disabled Veteran to provide training to employees at agencies that Opportunities in Small Nick LaLota (R-NY) fail to meet the service-disabled veteran-owned Business Act* small business procurement goal on how to increase the number of contracts awarded to these small businesses. [...] 7024), which has passed the House and is pending in the Senate, would reinstate immediate R&D expensing for 2022-2025—restoring the treatment of R&D expenses to what small businesses were familiar with before the TCJA changes took effect.e The Tax Relief for American Families and Workers Act would also raise the Section 179 allowance from its current level to $1.29 million and raise the threshold. [...] Strengthening the credit to better offset the full cost of the benefit, while increasing awareness of the tax credit through marketing and education campaigns, could increase the number of employers providing paid leave to hardworking American families.32 f The House Bipartisan Paid Leave Working Group was launched in 2023 with the support of BPC.