CREATE Act of 2024

Tax Relief and Reform Tax Cuts and Jobs Act of 2017: Support extending/making permanent the expiring provisions of the legislation that terminate in 2025 and have expressed opposition to raising taxes on small businesses. Submitted comments to the House Ways and Means Tax Working group detailing the benefits of the TCJA and our support for permanency. R&D Tax Credit-Immediate Expensing: Continue to support restoring and making permanent full expensing for R&D expenditures for small businesses. Support "American Innovation and Jobs Act" (S. 866) in the Senate and "American Innovation and R&D Competitiveness Act" (H.R. 2673) in the House. Main Street Tax Certainty Act of 2023 (S. 1706, H.R. 4721): Support House and Senate versions of the legislation to make permanent the 20-percent deduction for small businesses (Section 199A). Death Tax Repeal Act of 2023 (S. 1108): Support House and Senate bills to permanently repeal the death tax and continue to support action by Congress. Regulation Basel III Endgame Implementation: Continue to express concern about the proposal by the U.S. Federal Reserve and Federal Deposit and Insurance Corporation in regard to the impact on small business capital access and affordability. Save Local Businesses Act (S.1261, HR 2826): Continue to support the legislation. Protecting the Right to Organize (PRO) Act (S. 567): Continue to oppose the legislation. The Protect Small Business and Prevent Illicit Financial Activity Act: SBE Council supports S. 3625 to delay implementation of the Corporate Transparency Act and H.R. 9278, legislation to delay the Corporate Transparency Acts year-end compliance deadline. We have also supported repeal of this measure via the "Repeal Big Brother Overreach Act." Consumer Financial Protection Bureaus (CFPBs) Rule Capping Credit-Card Late Fees: Continue to voice concern about the rules unintended consequences for small businesses. Prove-It Act (H.R. 7198): Supported House passage of the legislation. Midnight Rules Relief Act (H.R. 115): Supported House passage of the legislation. The Credit Card Competition Act (S.1838): Continue to oppose the legislation. Railway Safety Act (S. 576): SBE Council continues to express concern about the legislation as well as proposals to intrusively regulate the railroad industry, which is dominated by small businesses. The Small Business Regulatory Reduction Act (H.R. 3995): Continue to support full House passage. The Fishery Improvement to Streamline Untimely Regulatory Hurdles post Emergency Situation Act (FISHES Act): Supported House passage of the legislation. Warehouse Worker Protection Act (S.4260): Opposed the introduction of legislation in the U.S. Senate. DOLs Overtime Rule: Requested Wage and Hour Division to delay implementation of the second increase to the minimum salary threshold as mandated by the Final Rule from January 1, 2025 to at least May 1, 2025 pending judicial review, which was currently underway. Federal Trade Commission: SBE Council commented on the Reopening of Solicitation for Public Comments on Provisions of Franchise Agreements and Franchisor Business Practices {Docket No: FTC-2023-0026) because of its one-size-fits-all approach and that it has been pursued and advanced without empirical data or the required cost-benefit analysis. Moreover, reopening the rule in the hopes of acquiring more anecdote to justify it does not address its primary flaws. Federal Deposit Insurance Corporation: SBE Council submitted comments outlining the unnecessary actions proposed by the Change in Bank Control Act proposal (RIN 3064-AG04). Blacklisting: Expressed opposition to the unrelated blacklisting provision in the Workforce Innovation and Opportunity Act (WIOA). Privacy Policy: Continue to express the need for a national regulatory framework, but for Congress to consider a framework that avoids adding to the growing patchwork burden of state privacy laws, and to carefully consider unintended consequences on small businesses. Access to Capital Expanding Access to Capital Act (H.R. 2799): SBE Council supported House passage and action by the U.S. Senate. Affordable Health Coverage and Health Care Innovation Continue to voice ongoing concerns about the rising costs of health coverage and lack of choices in many markets. Voiced support for these various reforms: enhancing tax credits for small businesses, expanding and making additional fixes to HSAs, reforming QSEHRAs, and making CARESs Act telehealth provisions permanent. CHOICE Arrangement Act (H.R. 2799): Supported House passage and continue to support Senate action on the legislation. Tax Credit for Small Businesses: Support making reforms to the restrictive and temporary health care tax credit for small businesses to make it more practical for small businesses. HSA Modernization Act (H.R. 5687) and Bipartisan HSA Improvement Act (H.R. 5688): Continue to support full House action. Telehealth Expansion Act of 2023 (H.R. 1843) (S. 1001): Continue to support full House and Senate action. Telehealth: Joined allies in urging the Centers for Medicare and Medicaid Services (CMS) to expedite the creation of permanent policy related to telehealth practitioners and requirements related to the reporting of their location at the time of service. Chronic Disease Flexible Coverage Act (H.R. 3800): Supported full House passage and Senate action. Paperwork Burden Reduction Act (H.R. 3797): Supported full House passage and Senate action. Employer Reporting Improvement Act (H.R. 3801): Supported full House passage and Senate action. Small Business Flexibility Act (H.R. 3798): Support full House passage. Custom Health Option and Individual Care Expense Arrangement Act (H.R. 3799): Support full House passage. SMART Prices Act (S. 1264): Continue to oppose the legislation. Property Rights and IP March-In and the Bayh Dole Act: Continue to express opposition to a regulatory guidance proposal via the National Institutes of Health (NIST) that considers price as a basis for invalidating the patents of research and innovations seeded with federal government dollars. Patent Eligibility Restoration Act (S.2140): Support the legislation. Promoting and Respecting Economically Vital American Innovation Leadership Act (PREVAIL Act) (S.2220): Support the legislation. Trade and Global Market Access Digital Trade Principles: Continue to express concern about the U.S. pulling away from these global principles and the need for President Biden to revisit the United State Trade Representatives action to withdraw from for foundational positions on digital trade policy within the World Trade Organization (WTO). Supporting Business Competitiveness and Startup Activity Comprehensive Resources for Entrepreneurs in the Arts to Transform the Economy (CREATE) Act (S.3759): Support the legislation. Small Business Technological Advancement Act (S.2330/H.R. 10269): SBE Council supports the legislation. Access to Broadband and Next Gen Technology Rural Internet Improvement Act of 2023 (S.130) (H.R. 3216): Continue to support the legislation. Development of a National Spectrum Strategy (NSS): Continue to express support for such a policy and the need for more spectrum to deploy next Gen technologies and 5G. Nominations National Labor Relations Board Nomination (NLRB): SBE Council opposed the nomination and Senate confirmation of Lauren McFerran to serve another term as Chair of the NLRB.