As a member of the American Independent Business Alliance (AMIBA), AIBA has supported these initiatives that will benefit local business. It appears Washington is listening to the SAVE OUR ECONOMY NOW campaign organized by the American Sustainable Business Council and the American Independent Business Alliance and other business organizations in response to the health and economic damage from the coronavirus pandemic.
Reports indicate Congressional leaders and the Administration may be near agreement on a fourth recovery package, widely known as CARES 2, to add another $310 billion to the Paycheck Protection Plan (PPP) for small businesses, which ran out of funds last week. The package could also include another $60 billion for emergency economic disaster loans under the Economic Injury Disaster Loan (EIDL) program, as well as $100 billion for COVID-19 testing and support for the health care system.
The package appears to respond to some of the demands we’ve made to SAVE OUR ECONOMY NOW! However, key issues appear to remain unresolved. Unclear is whether the additional health care money is sufficient to meet the need, especially for a comprehensive testing program that would enable businesses to reopen fully without fear that it would lead to a rebound of sickness.
There is also no indication that the problems that arose with the first tranche of PPP will be addressed in this new round. Purple items below are the areas where additional action is necessary.
- Implement a comprehensive healthcare strategy IMMEDIATELY that includes widespread testing along with other necessary medical protocols so that businesses can re-open safely and as soon as possible.
- Fund the SBA Economic Injury Disaster Loan (EIDL) advance NOW!
- Implement the new unemployment benefits NOW!
- Expand and Modify the CARES Act Payroll Protection Program (PPP)
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- Increase by at least $250 Billion
- Make the origination date of a PPP loan be the first day that small businesses can legally fully open.
- Expand to maximum payroll loan amounts to three months after businesses can legally fully open.
- Provide support for new and smaller businesses in applying NOW!
- Action is needed to meet the needs of 1099 and gig workers.
- Action is needed to provide support for people of color, immigrants, and low-income communities and business owners hard hit by the Pandemic
- Action is necessary to ensure the resilience of the small-scale and mid-sized farmers, fishers, and ranchers that feed our communities and provide the goods on which many local businesses depend.
Sign on to Save Our Economy Now!
That’s why we’re asking your support to keep the pressure on. Congressional leaders and the administration have indicated that even if CARES 2 passes this week, as expected, additional rounds of relief are likely.
Sign on to send these seven demands to all 535 members of Congress and the President and Vice President. If you’ve already signed, please forward to your networks and ask them to join our campaign.
If you’ve already signed, please call your Senators and Representative to demand they act immediately.