To provide for a limitation on availability of funds for Independent Agencies, Small Business Administration, Disaster Loan Program for fiscal year 2024.
Impact
The bill's restriction on funding is anticipated to significantly impact small businesses that rely on assistance from disaster loan programs. By capping funding at $10 million, it may limit the ability of the Small Business Administration to adequately support businesses affected by disasters, potentially resulting in adverse effects for those industries most vulnerable to natural calamities. Proponents of the bill argue that it is a necessary measure to control government expenditures and encourage fiscal responsibility within independent agencies.
Summary
House Bill 2149 aims to impose a strict limitation on the availability of funds allocated for the Independent Agencies and the Small Business Administration's Disaster Loan Program for the fiscal year 2024. Specifically, the legislation stipulates that the total amount accessible cannot exceed $10,000,000. This measure is a response to the ongoing need to regulate federal spending, particularly in the wake of various economic challenges that necessitate a review of how government resources are allocated to support small businesses during disasters.
Contention
There are notable points of contention surrounding HB2149. Advocates for small businesses may view the funding limitations as too severe, jeopardizing the support available for affected entities in times of crisis. Critics may argue that such constraints on funding could hamper recovery efforts after disasters, elevating concerns regarding the adequacy of federal resources during heightened emergency situations. The contrasting views on the necessity of budgetary limitations versus the urgency of robust disaster recovery funding reflect a broader debate about government spending priorities.
To provide for a limitation on availability of funds for Independent Agencies, Small Business Administration, Business Loans Program Account for fiscal year 2024.
To provide for a limitation on availability of funds for Independent Agencies, Small Business Administration, Loan Modernization and Accounting System for fiscal year 2024.
To provide for a limitation on availability of funds for Independent Agencies, Small Business Administration, Entrepreneurial Development Programs for fiscal year 2024.
To provide for a limitation on availability of funds for Independent Agencies, Small Business Administration, Office of Inspector General for fiscal year 2024.
To provide for a limitation on availability of funds for Independent Agencies, Small Business Administration, Salaries and Expenses for fiscal year 2024.
To provide for a limitation on availability of funds for Independent Agencies, Small Business Administration,, Business Loans Program Account, Administrative Expenses for fiscal year 2024.
To provide for a limitation on availability of funds for Independent Agencies, National Credit Union Administration, Community Development Revolving Loan Fund for fiscal year 2024.
To provide for a limitation on availability of funds for Independent Agencies, General Services Administration, Operating Expenses for fiscal year 2024.