• Small Business Innovation Strengthened By House Bill

• NASE Presents Your Views on Economic Stimulus Package

• New Chief Counsel for SBA Office of Advocacy Named

Small Business Innovation Strengthened By House Bill

Small business scored a major victory this week when Congress passed legislation to extend and expand funding opportunities for research and development. 

The National Association for the Self-Employed has long believed that the economic growth of the nation hinges on the innovation and success of the small-business owner. The legislation passed by the House this week, H.R. 1860, will strengthen the ability of entrepreneurs to perform research and then transfer their new ideas into the marketplace to stimulate economic growth.

H.R. 1860 is the "Small Business Technology Transfer Program Reauthorization Act of 2001." The Act extends the life of the Small Business Administration's technology transfer program from September 30, 2001 through fiscal year 2009. The Act also doubles the percentage of federal R&D funding for award to small businesses and nonprofit research institution partners. The house bill was sponsored by Rep. Vernon Ehlers of Michigan. A similar bill, S.856, was also passed in the Senate.

Small businesses must meet certain eligibility criteria to participate in the Small Business Technology Transfer Program. They must be American-owned and independently operated, for-profit companies. Company size is limited to 500 employees or under, and the principal research does not have to be employed by small business. 

NASE Presents Your Views on Economic Stimulus Package

The National Association for the Self-Employed has been diligently working with Congress and other small business organizations to outline specific stimulus provisions to assist the self-employed during this economic slowdown. The NASE is urging Congress to include direct expensing of business equipment purchases - one of your Association's major legislative goals for 2001. Additional provisions that may be included in a possible economic stimulus packager are:

• Cutting the capital gains tax
• Trimming business payroll taxes
• Adjusting business depreciation schedules
• Reinstating the investment tax credit

The movement of an economic stimulus package will be slow as Congress and the Administration focus their energies on budget and national security issues. Recently, the White House recently designated $100 million, of the $40 billion dollars in appropriated funds for the federal response to the September 11th attacks, to go to the Small Business Administration. The SBA will provide $400 million in low-interest loans for renters, homeowners and businesses in designated disaster.

The NASE encourages you to get involved by writing your elected officials. To make this task easier, the NASE has composed a pre-written letter on the subject that can be found in the Legislative Action Center.

You can also get involved by participating in the NASE's survey regarding the economic impact the recent terror attacks have had on your business. The poll takes just a few seconds to complete, and the NASE will use your responses to help educate Congress on any needed provisions to the tax package that they produce. Click here to participate in the survey. 

For more information, please contact Kristie Darien, NASE Director of Government Affairs at (202) 466-2100.

New Chief Counsel for SBA Office of Advocacy Named

Thomas Sullivan was named the official nominee for the Chief Counsel of the Small Business Administration Office of Advocacy by the White House last week. Sullivan has been the director of a small-business organization for several years. His confirmation by the U.S. Senate is expected to go through smoothly.

Congress established the Office of Advocacy in 1976 within the U.S. Small Business Administration to be an independent voice for small business in the formulation of public policy across the entire federal government. The Office is headed by a Chief Counsel appointed by the President from the private sector and confirmed by the Senate. The duties assigned to the Office include generating research on small business trends, characteristics, and contributions to the economy plus monitoring the impact of federal agency regulations on small business.

The NASE looks forward to working with Mr. Sullivan and the SBA Office of Advocacy to promote and protect the interests of small business.

Click here for more information about the SBA Office of Advocacy.