• NASE Teams Up With Bush Administration and Members of Congress for Women Entrepreneurship Forums

• Minimum Wage Increase and Tax Break Balancing Act

• NEWS ALERT: House Passes Medicare Prescription Drug Legislation

NASE Teams Up With Bush Administration and Members of Congress for Women Entrepreneurship Forums

The NASE is working with the Bush administration, the Department of Labor, the Small Business Administration and Members of Congress to bring regional summits for women micro-business owners to your area!

The Women Entrepreneurship in the 21st Century summit in Washington, D.C., last March was such a success that the Bush administration and key Members of Congress have decided to host regional events across America – and they have asked the NASE to continue as a sponsor. These local forums will allow more women small-business owners to attend and benefit from the wealth of information aimed directly at their needs. The NASE will be at the events participating in the panel discussions and hosting an informational table throughout the day.

So far, four regional summits have been announced:

• Economic Summit 2002: Women & Entrepreneurship, hosted by Congressman Bob Clement, July 22, 2002, in Nashville, TN

• Women & Entrepreneurship in the 21st Century, August 8, 2002, in Hartford, CT

• Women & Entrepreneurship in the 21st Century, August 15, 2002, in Houston, TX

• National Women's Small Business Summit 2002: Regional Opportunities, hosted by Senator Christopher S. Bond, September 9, 2002, in St. Louis, MO

The NASE encourages women small-business owners to attend the conference closest to them. Last March, NASE Board Member Shonda Parker was able to go to the summit in Washington, D.C. She said the event really opened her eyes to something she always knew but could not quite put her finger on – that women entrepreneurs have different and specific needs when starting and running their businesses, but that these needs are not always fulfilled.

“The Women Entrepreneurship in the 21st Century summit gave me the tools that I – as a woman – really need to run my business,” Parker said. “Not to mention that the contacts I made are invaluable.”

For more information about the summits, or to register, visit www.publicforuminstitute.org/index.htm. Also, check the NASE website frequently. We will continue to update information as new summits are announced.
 

Minimum Wage Increase and Tax Break Balancing Act

As reported earlier in Washington Watch, Senate Health, Education, Labor and Pensions Chairman Edward Kennedy (D-MA) is likely to begin pushing for a minimum wage increase before the end of this session. Republican lawmakers are discussing a tax package to offset the effect on small businesses. While many congressional Republicans oppose an increase in the minimum wage, election year politics could force it to the forefront of debate.

A tax package could include such items as a tax break for broadband technology, a permanent repeal of the estate tax, increased expensing limits and clarification of the “independent contractor” status.

While Kennedy may try to introduce the wage increase in July, the Senate’s agenda is already tentatively filled up with pension reform, accounting reform, the creation of a Homeland Security Department and a Medicare prescription drug bill. Therefore, Congress may not take up this issue until September.

Last month’s NASE’s Web poll showed that 52 percent of respondents supported raising the minimum wage and 39 percent opposed it. The NASE wants you to weigh in on the issue – visit the Legislative Action Center and tell your Members of Congress how you feel about an increase in the minimum wage.
 

NEWS ALERT: House Passes Medicare Prescription Drug Legislation

Last week, the House of Representatives passed H.R. 4954, the Medicare Modernization and Prescription Drug Act of 2002, which was sponsored by Rep. Nancy Johnson (R-CT). After much contentious debate, the bill was passed by a vote of 221-208.

The Republican sponsored legislation would authorize nearly $350 billion for Medicare from fiscal years 2003 through 2012. This includes $30 billion for providers that treat Medicare patients. The bill would also allow Medicare enrollees to purchase private drug policies beginning in 2005.

It is estimated that enrollees would have to pay about $33 per month, plus the first $250 in annual prescription costs. Insurers would cover 80 percent of enrollees' drug costs from $251 to $1,000, then 50 percent of the next $1,000. The beneficiary would be responsible for paying the cost of prescription drugs beyond $2,000 until out-of-pocket expenses reach $3,700, at which point the insurer would pick up the rest of the tab for the year. The measure authorizes financial assistance for low-income patients to reduce or eliminate their insurance premiums and limit their co-payments.

H.R. 4954 now heads to the Democratic-controlled Senate where the outlook looks grim.

For more information, please go to the House Committee on Energy and Commerce.
 

Have you checked out the NASE's "Affordability in Health Care: Trends in American Micro-Business" survey? The NASE released the results two weeks ago at an event with several members of Congress. To read more on Congress' reaction to the study, click here.

Do any of these issues affect you? Visit the NASE's Legislative Action Center  and "Tell Your Small Business Story." This will help the NASE understand - on a personal level - how key legislative issues are affecting your business and your bottom line.

For more information about any of the articles in Washington Watch, contact Maureen Petron, NASE public affairs manager, at (202) 466-2100 or mpetron@nase.org.