President Obama Announces New Partnership with the Private Sector to Strengthen America’s Small Businesses

Renews the Federal Government’s QuickPay Initiative

26 Companies Committed to SupplierPay Initiative

As a part of his Year of Action, the President is using the power of his pen and phone wherever he can on behalf of the American people to create jobs and help hard-working Americans get ahead. Today, the President will announce the creation of SupplierPay, a new partnership with the private sector to strengthen small businesses by increasing their working capital, so they can grow their businesses and hire more workers.

To launch SupplierPay, the President is bringing together 26 companies – both large and small – that have committed to the initiative. For the larger companies, joining SupplierPay demonstrates a recognition that a healthy supply chain is good for business. For the small business suppliers, benefiting from SupplierPay means having more capital to invest in new opportunities, new equipment, and new hiring.

President Obama, Senior Advisor Valerie Jarrett, National Economic Council Director Jeff Zients, and Small Business Administrator Maria Contreras-Sweet will host a meeting at the White House today with these businesses and their suppliers to discuss what more can be done to strengthen small businesses, building on the successes of the QuickPay program.

SupplierPay builds on the success of the Federal Government’s QuickPay initiative, which President Obama launched in 2011. QuickPay requires federal agencies to expedite payments to small business contractors with the goal of paying within 15 days. As a result of QuickPay, we have already seen well over $1 billion in cost savings for small businesses since 2011, leading to greater investment and job creation. SupplierPay is the private sector’s equivalent, where companies have committed to pay small suppliers faster or help them get access to lower cost capital.

Also today, the President is renewing QuickPay for federal small business subcontractors, where the government pays its large contractors faster and, in return, requires them to pay their small business subcontractors faster. QuickPay for small business subcontractors, which began in 2012, was only available temporarily for many small business subcontractors. Today’s announcement means faster payment for all small business subcontractors and even more business opportunities, more investment in small businesses, and more hiring.

The following companies have signed on to SupplierPay:

Apple AT&T Authentix Cardinal Health

Coca-Cola CVS Ericsson FedEx

Honda IBM Intuit Johnson & Johnson

Kelly Services Lockheed Martin Milliken Molina Healthcare

Nissan PG&E Philips Rolls Royce

Rothschild North America Salesforce Textura

Toyota Walgreens Westinghouse Electric Company

In wake of the Zika virus, travel, spring break still O.K.

Representatives from the CDC and the NIH were on hand at the White House during Monday's press briefing to update the public and address concerns over the Zika virus that has caused some babies to be born with deformities. Dr. Anne Schuchat from the Centers for Disease Control and Dr. Tony Fauci from the National Institutes of Health told reporters that a vaccine is in the making. The pair also said they are particulary concerned about women who are pregnant, or plan to get pregnant, who have either traveled to or plan to travel to areas of South America and the Carribean known to have the Zika virus. Despite those bold statements, the doctors said there is no wide-spread concern and that Americans should continue to travel, including during upcoming college spring breaks -- when college students travel to warmer climate destinations to escape winter weather. "Travel to Zika-affected areas is very common among Americans, and we don’t think that needs to stop&quo

(OTR): The White House on Hamas Terrorist Attack

Tip: long read. FOR IMMEDIATE RELEASE October 10, 2023 VIRTUAL ON-THE-RECORD GAGGLE BY NSC COORDINATOR FOR STRATEGIC COMMUNICATIONS JOHN KIRBY ON HAMAS TERRORIST ATTACKS IN ISRAEL Via Teleconference 5:54 P.M. EDT MR. KIRBY: Good evening, everybody. As you know, the White House has been closely following the situation in Israel, and the President has been actively engaged, regularly receiving updates on the latest developments from the national security team. In fact, this morning, he met with members of the senior team -- including the Secretary of State; National Security Advisor; the Principal Deputy National Security Advisor; the Homeland Security Advisor, Liz Sherwood-Randall; and, of course, the White House Chief of Staff, Jeff Zients -- all to receive the latest update from -- from the morning. ADVERTISEMENT CMB BUSINESS SOLUTIONS He has also spoken twice with Prime Minister Netanyahu this -- over the weekend, certainly to express our deep sympathy for all those missi

President Biden's EV Agenda

Electric Vehicles President Biden’s Investing in America Agenda is Unleashing a Manufacturing and Clean Energy Boom and Accelerating the Production of Affordable Electric Vehicles As part of President Biden’s goal of having 50 percent of all new vehicle sales be electric by 2030, the White House is announcing the first set of public and private commitments to support America's historic transition to electric vehicles (EV) under the EV Acceleration Challenge. ADVERTISEMENT CMB BUSINESS SOLUTIONS These commitments are part of President Biden's Investing in America agenda to spur domestic manufacturing, strengthen supply chains, boost U.S. competitiveness and create good-paying jobs. Because of President Biden’s leadership and historic investments, electric vehicle sales have tripled and the number of publicly available charging ports has grown by over 40 percent since he took office. There are now more than three million EVs on the road and over 135,000 public EV charg

Politics. On Point.

Search This Blog