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Senate Restores, Expands SBA '07 Budget Resolution

Monday, March 20, 2006

SBDCs slated for $23 Million Increase; FAST Restored

While the federal budget process is a long way from completed for the fiscal year beginning Oct. 1, last Thursday was a good day for beneficiaries of many programs run through the Small Business Administration (SBA). The U.S. Senate passed an amendment to the budget resolution that will add $130 million to the President's 2007 Budget Request for SBA, bringing the agency to a total of $754 million for next year and including funding for several programs recommended for elimination. Senate Amendment No. 3134 was introduced by Senators Olympia Snowe (R-Maine) and John Kerry (D-Mass.), Chair and Ranking Member of the Committee on Small Business and Entrepreneurship.

The items shown below are among those approved in the Kerry-Snowe amendment for the Fiscal Year 2007 SBA budget. Items the president proposed for elimination are noted in parentheses:

  • $22.9 million to increase funding for SBDCs from $87.1 million to $110 million;
  • $4 million for SBIR/STTR Technical Assistance (eliminated);
  • $7 million to prevent imposing an administrative fee on 7a/504/SBIC small business borrowers;
  • $2 million to leverage nearly $28 million in program level for Microloans (eliminated);
  • $16.4 million in program level for Microloan Technical Assistance (eliminated);
  • $5 million for PRIME (eliminated);
  • $2.5 million for the New Markets Venture Capital Program (eliminated);
  • $4.6 million to increase funding for Women Business Centers from $11.8 million to $16.5 million;
  • $2 million to increase funding for SCORE from $4.95 million to $7 million;
  • $1 million for Native American outreach from $1 million to $2 million;
  • $10 million for Procurement Center Representatives;
  • $750,000 for Veterans Business Development to increase funding from $750,000 to $1.5 million; and,
  • $7.4 million for HUBZones from $2.6 million to $10 million.

Co-sponsors included Senators Mary Landrieu (D-La.), Joe Lieberman (D-Conn.), Carl Levin (D-Mich.), David Vitter (R-La.), and Norm Coleman (R-Minn.). More information regarding the Senate version of he Budget Resolution is available through: http://thomas.loc.gov