Jobs & Economy

Congressman Neguse has introduced the following bills to expand opportunity and invest in workers: 

  • SPUR Act: The Small-Business Procurement Utilization Act will provide more opportunities for small businesses to secure new contracts by raising the Small Business Administration's government-wide contracting goals. 

  • Research and Development Tax Credit Expansion Act of 2019: This bill modifies the refundable research tax credit for new and small businesses to (1) increase the limit on refundability to $500,000, with an adjustment for inflation; (2) allow refundable amounts to cover all payroll taxes paid by such businesses; and (3) extend eligibility for the credit to small businesses with less than $10 million in gross receipts (currently, less than $5 million).

  • EIDL Forgiveness Act: This bill modifies the loan forgiveness determination for a paycheck protection loan by excluding from such determination any advance amount for an economic injury disaster loan that was made to the recipient in relation to COVID-19 (i.e., coronavirus disease 2019).

  • MicroCap Small Business Investment; bipartisan legislation to increase federal resources for underserved small businesses. 

Congressman Neguse serves as Vice Chair for Housing and Transportation on the Majority Leader’s Task Force on Poverty and Opportunity and has introduced the following bills to expand affordable housing opportunities for Coloradans: 

  • Affordable HOUSE Act: This bill removes the current rule that prohibits property acquisition for affordable housing use in the first 10 years of the property’s ownership. 

  • Save Affordable Housing Act: This bill amends the Internal Revenue Code, with respect to the low-income housing tax credit, to repeal the qualified contract option for a building that received its allocation of housing credit dollar amount before January 1, 2019, or received before that date, a determination from the bond issuer or housing credit agency of its eligibility to receive an allocation of a housing credit dollar amount.