Tuesday, July 28, 2015

President Obama signs H.R. 2499 into law using autopen

President Obama signed H.R. 2499  into law this morning effective immediately. The Office of Management & Budget (OMB) has apportioned the additional authority to SBA and the 7(a) program should be back up and running very shortly. 

Because he is out of the country, the President had to authorize the use of the autopen -- for only the sixth time during his presidency. The autopen is used only when legislation must be urgently signed into law. The reopening of the SBA 7(a) loan program is now among an elite few pieces of legislation that qualified for autopenning, including the extension of The Patriot Act provisions; to fund the federal government under a Continuing Resolution; the American Taxpayer Relief Act to avoid the fiscal cliff, and two others. 

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