NASE News

Small Business Community Calls for Congressional Action

Small Business Community Calls for Congressional Action

The National Association for the Self-Employed (NASE) along with its fellow leading small business associations, through the Small Business Roundtable, are calling on Congressional leaders to take immediate action in support of America’s 30 million small businesses.

In the letter, which was released to coincide with National Small Business Week, the organizations called on Congress to pass a small business relief package that is inclusive of several bi-partisan, bi-cameral pieces of legislation. The request asks for the followi 

In the letter, which was released to coincide with National Small Business Week, the organizations called on Congress to pass a small business relief package that is inclusive of several bi-partisan, bi-cameral pieces of legislation. The request asks for the following: 

  • 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;

  • 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.

  • Costs associated with Personal Protection Equipment (PPE), technology and cloud based services, and business physically damaged during COVID-19 should be forgiven under PPP;

NASE continues to advocate for America’s small businesses and the challenges they face as they navigate the COVID-19 Pandemic. Click here to contact your:

Representative to the House of Representatives
US Senators 

And ask that they pass small business relief in advance of the next congressional recess.

Courtesy of NASE.org
https://www.nase.org/about-us/Nase_News/2020/09/27/small-business-community-calls-for-congressional-action