Small Business Administration (SBA) sent this bulletin at 12/31/2020 10:06 AM EST
Advocacy Releases December Economic Bulletin
The Office of Advocacy’s Small Business Economic Bulletin for December examines how small businesses have been faring during the COVID-19 pandemic. Overall self-employment levels have been relatively steady, but income changes from small business owners have been choppy.
Expenses Paid with Forgiven PPP Loans Are Deductible
Thanks to a change made by Congress in the Consolidated Appropriations Act, 2021, business expenses paid with forgiven or forgivable Paycheck Protection Program loans are deductible. Advocacy Assistant Chief Counsel Charles Jeane explains the decision in his latest blog.
Small Business Lending During The COVID-19 Pandemic
A new report from the Office of Advocacy examines the change in small business loan rates. Advocacy found that lenders with assets between $1 billion and $10 billion distributed 62% more funding than expected, while lenders with assets over $50 billion distributed 31% less funding than expected.
On December 14, 2020, the U.S. Environmental Protection Agency issued a Notice of Proposed Regulation and Request for Comment on clarifying that States and Tribes are not required to include the same criminal intent standard under Sections 402 and 404 of the Clean Water Act that is applicable to EPA. Comments due January 13, 2021.
On December 10, 2020, the Environmental Protection Agency issued a Notice of Availability of Draft Guidance and Request for Comment on applying the recent decision of the U.S. Supreme Court in County of Maui v. Hawaii Wildlife Fund on a case-by-case basis to National Pollution Discharge Elimination System permits. Written comments are due January 11, 2021.
On December 11, 2020, the Department of Energy finalized a rule streamlining its approach to the energy efficiency test-procedure interim waiver process.
Advocacy’s latest COVID-19 fact sheet examines which industries have been hardest hit by the pandemic, examining recovery rates and changes in operating capacity.
For National Veterans and Military Families Month in November, Advocacy highlights its economic research into small business entrepreneurship among veterans.
On November 30, 2020, the Defense Acquisition Regulations System implemented changes to their Cybersecurity Maturity Model Certification. These changes affect small businesses that are DOD contractors.
Advocacy will be holding a roundtable on January 15, 2021 concerning EPA regulations. The meeting will focus on regulations surrounding perchloroethylene and a discussion of IRIS assessment creation.
On December 14, 2020, the Consumer Financial Protection Bureau issued a SBREFA panel report on implementing Section 1071 of the Dodd-Frank Act, which governs the collection and reporting of small business lending data.
FREQUENTLY ASKED QUESTIONS
There are two main ways you can connect with Advocacy and share your concerns about regulatory burdens on small businesses:
2) Check Out Advocacy's Publication, "A Basic Guide to Federal Rulemaking and Small Business" to learn how small business can get involved in the federal rulemaking process.
