| Last week, the House passed the HEROES Act (HR 6800), a significant step to ensure a strong U.S. economic recovery. This bill includes nearly $1 trillion in direct state and local government, $175B in mortgage and rental relief and another round of stimulus checks for individuals. The American Sustainable Business Council (ASBC) and the American Independent Business Alliance (AMIBA) are urging the Senate to introduce and pass this bill immediately, as Americans cannot afford to wait any longer for economic support. Additionally, the Paycheck Protection Program Flexibility Act (HR 6886), sponsored by Reps. Dean Philips (D-MN) and Chip Roy (R-TX) was introduced last Thursday, which is an important step in amending the Paycheck Protection Program (PPP). The Flexibility Act aims to relax certain provisions related to forgiveness and payroll tax for loans originating under the PPP. This bill also extends the time period for businesses to rehire employees, as many have not been able to resume business due to public health-informed restrictions. ASBC and AMIBA are also strongly recommending the passage of the Paycheck Recovery Act (HR 6918), sponsored by Rep. Pramila Jayapal (D-WA), through the House as quickly as possible. The Paycheck Recovery Act was introduced last Tuesday and advances the most comprehensive and maximally beneficial economic relief during this crisis. While the Paycheck Protection Program Flexibility Act addresses current gaps in PPP, only the Paycheck Recovery Act is scaled appropriately to meet the needs of all businesses in the U.S. Please help the ASBC and AMIBA advocate for the passage of HR 6918! | |
