Se Denver News

Washington, D.C. — In recognition of Small Business Month, Congressman Joe Neguse, Co-Chair of the bipartisan Congressional Caucus on Innovation and Entrepreneurship, introduced a legislative package to ensure that small businesses in Colorado have the resources to thrive. The two bills introduced will support small business owners from underserved communities and increase federal contracts for small businesses, unlocking new doors and fostering economic growth.

“This package of bills is about investing in small businesses across Colorado and giving everyone the opportunity to succeed,” said Congressman Neguse. “These bills will create new possibilities for small businesses, grow our Main Street and rural economies, and spur job growth across the country.”

The package of bills includes the following: 

• The MicroCap Small Business Investing Act – This bipartisan bill would increase investment in and expand capital access for small business owners in rural and underserved communities and create more opportunities for venture capital fund managers outside major metropolitan areas. 
• The Small-Business Procurement Utilization Reform (SPUR) Act – This is bipartisan legislation that could redirect up to $10 billion in federal contracts to small businesses, providing more opportunities for small businesses to secure new contracts by raising the Small Business Administration (SBA)’s government-wide contracting goals.

"Mid-Tier Advocacy is pleased to support the Spur Act, because small and midsize businesses are the engine of the economy and innovative partners to the federal government and should have every opportunity to succeed and continue to grow in the federal marketplace," stated Tonya Saunders, Chairman and Founder of Mid-Tier Advocacy. 

Learn more about the package of bills HERE.

Background:

Congressman Neguse has introduced multiple bills to expand opportunities for small businesses. Congressman Neguse had the PRICE Act, Merger Filing Fee Modernization Act, and the Bankruptcy Threshold Adjustment and Technical Corrections Act, three bipartisan bills to support small businesses, signed into law by President Biden in 2022. Additionally, Congressman Neguse led legislation to expand the research and development tax credit. Following the Cameron Peak, East Troublesome Fires, and after the Marshall Fire, Congressman Neguse helped secure a disaster declaration to bring in Small Business Administration relief to support businesses impacted by the fires.

Original source can be found here