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Reconciliation Recommendations of the House Committee on Small Business (CBO Report for Congress)

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Congress 117th
Date Requested Sept. 9, 2021
Date Sent Sept. 24, 2021
Description:
S. Con. Res. 14, the Concurrent Resolution on the Budget for Fiscal Year 2022, instructed some committees of the House of Representatives to recommend legislative changes, which would increase deficits up to a specified amount over the 2022‑2031 period. As part of this reconciliation process, the House Committee on Small Business approved legislation on September 9, 2021, with provisions that would increase deficits. The legislation would provide $24.9 billion to the Small Business Administration (SBA) to make grants, loans, and loan guarantees, and to establish a facility to provide funding to small business investment companies (SBICs) engaged in venture capital activities. Based on historical spending patterns for similar programs, CBO expects that a portion of that appropriation for some programs would not be spent and for other programs would be spent after 2031. CBO estimates that enacting the legislation would increase the deficit by roughly $22 billion over the 2022-2031 period.

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