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NASBP Focal Point - November 18, 2021

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Seven state legislatures, DC, and U.S. Congress are currently in session: District of Columbia, Federal, Illinois, Massachusetts, Michigan, New Jersey, Ohio, Pennsylvania, and Wisconsin.

Territories: Guam, Northern Mariana Islands, Puerto Rico, and U.S. Virgin Islands.
In This Issue
  • Federal Report
  • President's Build Back Better Plan
  • NASBP's 2022 Government Relations Agenda
  • SBA Surety Bond Guarantee Program Comment Letter
Federal Report
One Done—Democrats Now Focus on the President’s BBB
As reported in Tuesday’s NASBP’s SmartBrief, President Joe Biden signed a $1.2 trillion bipartisan infrastructure package that includes $550 billion in fresh spending. The law includes a provision NASBP helped get passed that requires payment and performance security on all federally financed infrastructure projects receiving loans and grants under the Transportation Infrastructure Finance and Innovation Act, including public-private partnership projects.

Meanwhile, today, the House is scheduled to begin debate on the President’s Build Back Better (BBB) Plan, H.R. 5376. Debate is limited to two hours, but it is unclear when the bill will be taken up by the House for a vote. As reported in the November 4 edition of Focal Point, House Democratic moderates are asking the Congressional Budget Office (CBO) to score the bill (cost of the bill) before casting a vote. Thus far, CBO has scored the following Titles: Title I, Committee on Agriculture; Title II, Committee on Education, and Title IV, Committee on Financial Services. The Education and Labor Committee title comes with the highest price tag because it calls for creating two new programs: free universal preschool services and free child care for children under the age of six. However, CBO scored both programs lower than Democrats expected. CBO is expected to finish scoring the remaining Titles in the BBB: Title III, Committee on Energy and Commerce; Title VI, Committee on the Judiciary; Title VII, Committee on Natural Resources; and Title XIII, Committee on Ways and Means by Friday. Indications are that once CBO completes its scoring of these remaining Titles, the House will move quickly to advance the bill to the floor for a vote, which likely will occur sometime Friday.
 
NASBP's 2022 Government Relations Agenda
During last week's Mid-Year Board Meeting, NASBP’s 2022 Government Relations Agenda was approved by the NASBP Board. This Agenda describes important government relations activities and initiatives, grouping them in three categories: (1) Direct Advocacy by NASBP members and or staff, (2) Working with Coalition Partners to accomplish stated legislative goals, and (3) by using NASBP Advocacy Tools as another means to achieve a legislative solution. 
 
NASBP Comment Letter to SBA
Today, NASBP submitted comments to the U.S. Small Business Administration’s Office of Surety Guarantees. The letter recognizes the myriad improvements made to the SBA Bond Guarantee Program (such as increasing the bond amount for its Quick Bond Guarantee Application and Agreement from $400,000 to $500,000) and offers additional suggestions that would further enhance business opportunities for small contractors.
If you are aware of any bills impacting the industry, please reach out to Larry LeClair, NASBP's Director of Government Relations, and let us know.
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The National Association of Surety Bond Producers
Focal Point is an e-bulletin sent to members and friends of the National Association of Surety Bond Producers when most state legislatures are in session and as needed thereafter. To obtain copies of Bills or other materials discussed above, contact advocacy@nasbp.org. Copyright © 2021 NASBP®. All rights reserved.
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