What's Next for Coronavirus Recovery Legislation in the Hands of Congress

Date: September 16, 2020

NFIB is fighting for Congress to deliver on behalf of America’s small business owners

“Small businesses, which make up half the U.S. economy and account for nearly half of all jobs, have been the hardest hit during this unprecedented COVID-19 pandemic,” said NFIB President Brad Close of the need for COVID-19 recovery legislation. “The challenges they face are not of their own making, and small businesses across the country are doing everything they can to take care of employees, reopen their businesses, and help their communities.”

Yet with a COVID-19 recovery bill failing to pass the U.S. Senate last week, the help many of America’s small businesses need to survive, is looking less and less likely to occur. Media reports and Hill conversations are discouraging and there is great concern that another recovery bill will not be passed before the 2020 elections.

Congressional inaction may have grave consequences for small businesses and the communities they serve. According to the most recent in NFIB’s series of COVID-19 surveys, 47% of small business owners who received a Paycheck Protection Program (PPP) loan and/or an Economic Injury Disaster Loan (EIDL) anticipate needing additional financial support in the next 12 months. More than one-in-five (21%) of small business owners report that they will have to close their doors if current economic conditions do not improve over the next six months.

Small business owners from all 50 states urged Congressional action during NFIB’s 2020 Virtual Fly-In in August, in meetings with members of Congress where they explained how they’re dealing with the COVID-19 pandemic – and what they need from Congress to keep their doors open through this crisis. More than 1,700 small business owners engaged in the NFIB 2020 Virtual Fly-In and its 70+ meetings with members of Congress and their staffs.

NFIB continues to support Congressional efforts for additional recovery legislation that mirrors its small business Phase Four Recovery Legislative Priorities. These priorities include recommendations that will help America’s smallest businesses, such as securing financial assistance, creating strong liability protections, providing targeted tax relief, and reforming unemployment insurance.

NFIB President Brad Close added, “Relief efforts by the Administration and Congress have allowed many small businesses to remain afloat, but there is still more work to do. These proposed legislative recommendations reflect our members’ concerns and will help provide support and protection they so desperately need.”

Take action: Every NFIB member has a story that Congress needs to hear. Even if you have already reached out to your members of Congress on this issue – please contact them again with our pre-written message that you can personalize. Small businesses are struggling; tell Congress why they need to put aside disagreements and help save small businesses before the election.

Related Content: Analysis | Coronavirus | National

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