Small Business Majority Welcomes U.S. House Passage of the American Rescue Act
Statement from John Arensmeyer, Founder & CEO of Small Business Majority, on the U.S. House of Representatives vote to approve the American Rescue Plan, which will provide critical relief to small businesses
“America’s small businesses are desperate for a lifeline, and the U.S. House of Representatives extended one today by passing a stimulus package that will provide some of the hardest-hit small businesses with the funds they need to hold on for a few more weeks or months.
In particular, the legislation offers grants to provide more flexible relief and funding for low-interest small business loans and business assistance programs. The plan also includes measures to bolster small businesses during this difficult time by extending unemployment benefits and boosting the earned income tax credit. Additionally, the legislation will strengthen access to healthcare and lower costs for small firms and their employees, which is especially important given that more than 1 in 3 small businesses report that it’s been a challenge to secure health insurance coverage for themselves and their employees during the pandemic.
We applaud Congress for moving quickly to pass this plan, and we call on lawmakers to continue providing robust support to America’s small businesses during this time of unprecedented disruption to our economy.”
About Small Business Majority
Small Business Majority is a national small business organization that empowers America's diverse entrepreneurs to build a thriving and equitable economy. We engage our network of more than 80,000 small businesses and 1,000 business and community organizations to advocate for public policy solutions and deliver resources to entrepreneurs that promote equitable small business growth. Our deep connections with the small business community along with our scientific research enable us to educate the public about key issues impacting America’s entrepreneurs, with a special focus on advancing the smallest businesses and those facing systemic inequalities. Learn more about us on our website and follow us on Twitter, Facebook and Instagram.