Since March, PIA National has been working with the business community on a proactive solution to the economic crisis created by the forced shutdowns made necessary by the COVID-19 coronavirus pandemic. To that end, PIA National has been an active member of a coalition led by the business community and dedicated to the creation of a Recovery Fund that would provide immediate assistance, without burdensome bureaucracy, to businesses adversely impacted by COVID-19.
With small businesses under increasing economic pressure every day, we are pleased that today Reps. Filemòn Vela (D-TX) and Lance Gooden (R-TX) have introduced the “Small Business Comeback Act.”
The bill would create a Small Business Recovery Fund (Recovery Fund) that would be housed within the U.S. Department of Treasury and facilitate the distribution of direct grants to affected businesses and their employees. The Recovery Fund would complement business assistance programs established or expanded by the CARES Act and provide streamlined and tailored federal support for small businesses affected by COVID-19. Funds would be targeted to help businesses retain and rehire employees, maintain worker benefits, and continue or resume economic activity.
As Congress assembles what is expected to be one last coronavirus relief package before its August recess, PIA National will continue to work to support the business community in this effort to create a Recovery Fund that will enable small businesses receive the relief they need to stay afloat and keep their workers employed.
You can access the coalition’s press release here and its Recovery Fund 101 graphic here. Please see Rep. Vela’s press release here.