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News & Press: Policy News

5 Month Funding Bill Released

Wednesday, December 7, 2016  
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5-month Funding Bill Released: 

Wednesday, December 7, 2016

 

The plan to continue government funding through April 28, 2017 was released yesterday evening. The bill reduces current funding levels 0.19% across the board while adding relief for Flint, MI and Louisiana flood victims.

 

Notably, the bill would also bypass a restriction that would prevent Gen. James Mattis, whom President-Elect Trump intends to nominate for Secretary of Defense, from serving as Secretary of Defense. Several House Democrats concerned by the Mattis waiver are indicating they may vote against the legislation. Democratic support is critical, given that Republicans have struggled to pass spending bills without Democrats.
 
While small business provisions are not typically included in a Continuing Resolution (CR; as it simply extends funding), a review of the CR is taking place for provisions that impact small businesses.  The bill does allow SBA to lend the full annual amount allocated for 7(a) loans, currently $26.5 billion, during the 5 months if needed. The House is expected to vote on the bill tomorrow, with the Senate following on Friday. 


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