As you know, the NDAA conference report was vetoed by the President a few weeks ago. Included in the final conference report were two provisions of importance to the surety industry-one addressing individual sureties and the second that increases the guarantee to sureties who participate in the SBA Surety Bond Guarantee Program from 70% to 90%.
Please review the attached article, which indicates that the House will vote on a new version of the bill and the only change will be a $5 billion spending cut. All other policy provisions, which include our surety provisions, should remain intact.
Please free to contact Larry LeClair with any questions.