NASE News

NASE Celebrates National Small Business Week by Calling on Congress to Pass Small Business Relief

FOR IMMEDIATE RELEASE: September 22, 2020
CONTACT:  Kristofer Eisenla, LUNA+EISENLA media
kristofer@lunaeisenlamedia.com | 202-670-5747 (mobile)

As Small Business Close Doors & Continue to Struggle, Small Business Groups & Allies Release List of Priorities to Help Community During COVID-19

WASHINGTON, D.C. – As the small business community celebrates National Small Business Week this week, the National Association for the Self-Employed, the nation's leading advocate and resource for the self-employed and micro-businesses, together with major small business groups and their allies are calling on Congress to pass a Small Business Relief Package.

“The COVID-19 pandemic has left the small business community on life-support. Many small businesses are closing their doors, struggling to make payroll while family-owned businesses try to make ends meet.  We must help them right now with the passage of targeted relief for small businesses,” said Keith Hall, president and CEO of NASE. “From a much needed second loan program to loan forgiveness for some of the hardest hit companies, these and other proposals can go a long way in supporting small businesses along Main Street.”

In a joint letter, the 17 groups urge "swift, bipartisan leadership on a standalone small business relief package that will assist the most fragile small businesses and their employees.

“This week is National Small Business Week and what better way for Congress to honor and show their support for America’s Small Business that pass critical legislation to help them and their workers navigate the COVID-19 pandemic.

“For these reasons, we implore you to consider a small business relief package encompassing the most bipartisan, consensus-based policies that will alleviate the most pressing challenges for small business owners. Notably, this is not our collective wish list, or even the policies that will have the most impact in our community. This list recognizes the political reality that the debate over COVID-19 response will continue through the fall, but these small and low-to-no-cost measures means thousands of small businesses will make it to the holidays.

 - 
Allow the hardest hit small businesses to take a second draw on the Paycheck Protection Program (PPP), pass S. 4321 - Continuing Small Business Recovery and Paycheck Protection Program Act
 - 
Expedite PPP loan forgiveness, particularly for the smallest and hardest hit businesses, pass S. 4117/H.R. 7777, The Paycheck Protection Small Business Forgiveness Act;
 - 
Allow full tax deductibility for PPP recipients, thereby eliminating the unexpected and substantial tax increase many business owners now face;
 - 
Eliminate caps and increase funding for the Economic Injury Disaster Loan Program;
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Ensure tax-exempt organizations such as 501(c)6 trade organizations, chambers of commerce and destination marketing organizations (501(c)6 and quasi-governmental structures have PPP access
Optimize the Small Business Administration 7(a) loan program by providing increased federal loan guarantees and maximum loan sizes, as well as reduced fees, all of which were critical programmatic changes that accelerated economic recovery after the Great Recession; and
 - 
Increase funding for Community Development Financial Institutions, which promote economic revitalization in distressed communities.
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Costs associated with Personal Protection Equipment (PPE), technology and cloud based services, and business physically damaged during COVID-19 should be forgiven under PPP.

“Unless Congress provides additional relief this month, business failures in the next several months will skyrocket as it will be impossible for additional measures to come online until well after the election or perhaps even into early 2021. There is no doubt that a larger package is needed, not only to bolster America’s entrepreneurial engine, but also to address the challenges faced well beyond the small business community, and we urge all parties to work together in drafting, passing and enacting that critical legislation.”

NASE members and supporters of the small business community can take action by contacting their elected representatives to encourage passage of the Small Business Relief Package. NASE has also developed a COVID-19 Resource Page for the small business community offering supportive resources and information.

To speak with NASE small business experts about the targeted relief for the small business community, please contact kristofer@lunaeisenlamedia.com

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The National Association for the Self-Employed (NASE) is the nation's leading advocate and resource for the self-employed and micro-businesses, offering a broad range of benefits to help entrepreneurs succeed and to drive the continued growth of this vital segment of the American economy.

The NASE Next Biz Thinghelps identify and connect our nation’s smallest businesses. Need small business help? Check out NASE’s Ask the Experts for advice or the NASE Minute for small business support.

The NASE is a 501(c) (6) nonprofit organization and provides big-business advantages to hundreds of thousands of micro-businesses across the United States. For more information, visit the association's website at NASE.org

Courtesy of NASE.org
https://www.nase.org/about-us/Nase_News/2020/09/22/nase-celebrates-national-small-business-week-by-calling-on-congress-to-pass-small-business-relief