To provide for a limitation on availability of funds for Independent Agencies, Small Business Administration, Loan Modernization and Accounting System for fiscal year 2024.
Impact
The legislation could lead to significant changes in how independent agencies operate, particularly in regard to their funding and the capacity to carry out their functions. By strictly limiting the financial resources available, it may hinder the ability of the Small Business Administration to provide crucial support and services, including loans and modernization initiatives for small businesses. With constrained funding, agencies may need to prioritize their allocations and potentially scale back on various programs.
Summary
House Bill 2143 establishes a funding limitation for Independent Agencies and the Small Business Administration within the federal budget for the fiscal year 2024. The bill specifies that the total amount that can be appropriated or made available to these entities cannot exceed $6,100,000. This measure aims to impose fiscal discipline by capping the available resources, presumably to ensure that funds are utilized efficiently and possibly to quell growing budget deficits.
Contention
Critics of HB2143 argue that imposing such funding caps could adversely affect the essential services and support systems that these agencies offer, particularly in a time when small businesses are recovering from various economic challenges. There is also concern that reduced funding may dilute the effectiveness of initiatives aimed at advancing economic growth and supporting small businesses, which are vital to the overall economy. Proponents of the bill, however, maintain that fiscal responsibility is critical and that limiting funding will lead to more efficient use of taxpayer dollars.
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, Disaster Loan Program 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, Office of Inspector General 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,, Business Loans Program Account, Administrative Expenses for fiscal year 2024.
To provide for a limitation on availability of funds for Independent Agencies, Merit Systems Protection Board, Salaries and Expenses for fiscal year 2024.