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Headlining this
week's House floor schedule is the Small Business Financing
and Investment Act (H.R.
3854), legislation aimed at boosting access to capital
for small businesses. The bill would increase by 33 percent
the maximum gross size of 7(a) loans, the Small Business
Administration's (SBA's) primary program to help start-up and
existing small businesses obtain financing when they might
not be eligible for business loans through normal lending
channels. In addition, H.R. 3854 would create a small bank
outreach program tasked with identifying and supporting small
banks, credit unions, and community lenders to participate in
the 7(a) loan program, among many other provisions. The
legislation is estimated to generate $44 billion in new
lending to small businesses, according to the office of Rep.
Kurt Schrader (D-OR), the primary sponsor of H.R. 3854. A
section-by-section summary of the bill can be viewed
here.
"This bill
incentivizes lending, reduces bureaucratic red tape and
increases the size of SBA loans to loosen the credit
markets," Schrader said.
Other legislation
slated for House floor votes this week include:
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AmericaView Geospatial Imagery Mapping Program Act (H.R. 2489)
- Authorizes $10 million in appropriations through 2019 for a
Department of the Interior (DOI) grant program to support
various activities related to geospatial imagery mapping.
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Interior and
Environment appropriations conference report (H.R.
2996) - Details of the final bill are not yet available.
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Federal Judiciary Administrative Improvements Act (H.R. 3632)
- Removes the power of
certain active or retired federal judges to appoint U.S.
magistrate judges, and modifies the reporting schedule for
criminal wiretap orders, among other provisions.
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