VA

COVID-19: Virginia Resources

As many of you are aware, the State of Virginia and many municipalities have taken emergency actions to slow the spread of the COVID-19. In addition to closing numerous public venues, and encouraging Virginia residents to practice social distancing, the state is also placing additional requirements on businesses to prioritize the health of employees and the public.

The information and resources provided here includes general state and federal guidance for navigating the COVID-19 outbreak, as well as specific information and resources for business owners.

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The agenda for Virginia’s entrepreneurs

Small Business Majority has created a comprehensive state policy agenda to ensure entrepreneurship is at the center of a thriving andinclusive economy in Virginia. Virginia’s nearly 750,000 small businesses employ 1.5 million people, which amounts to nearly half of the private workforce, according to the U.S. Small Business Administration.

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Small Business Majority Supports State Income Tax Exclusion for PPP and Rebuild Virginia Grant Borrowers

Today, Small Business Majority submitted remarks to the House Committee on Finance during the Virginia Regular Session support SB 1146, which would provide up to $50,000 in deductions related to the Rebuild Virginia Grants and up to $50,000 for forgiven PPP loans. SB 1146 would create parity in how PPP funds are treated at both the federal and state level and would allow small businesses not to incur more debt during the pandemic.

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Virginia small business owner helps keep kids engaged in the kitchen

Keeping kids engaged, curious and confident throughout virtual learning and lockdowns is a task many parents and schools have struggled with over the past 10 months. Fortunately, Virginia small business owner Ellen Victoria Luckey is well equipped to help her community tackle the issue. 

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Small Business Owner Supports Paid Family Leave in Virginia

Today, small business owner Sandra Leibowitz submitted a letter of support to the House of Delegates, which would establish a state-run paid leave program in Virginia. Paid leave programs allow small business owners the ability to attract and retain employees without the hassle of managing the nuances of offering these benefits. 

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Small Business Owner Submits Testimony Supporting Reinsurance in Virginia

Today, Tierra Henderson submitted written testimony to the House Committee on Labor and Commerce in support of HB 2332, which would establish a reinsurance program in Virginia. For Tierra, and other self-employed individuals, reinsurance programs help stabilize costs in the individual marketplace. HB 2332 is an important step forward for small businesses. 

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Small Business Majority Supports Virginia Retirement Savings Program

Today, Small Business Majority submitted a letter of support for HB 2174, which would establish an automatic enrollment payroll deduction individual retirement account (IRA) retirement savings program in Virginia. This would be an important step to support small business owners and their employees who are unable to access traditional retirement benefits. 

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How a reinsurance program in Virginia can help lower costs for small businesses

Virginia legislators are considering a bill that would implement a reinsurance program to help address healthcare costs across the state. Reinsurance programs use federal and state funds to help health insurers provide coverage to the highest-cost consumers, allowing them to keep premiums lower for everyone else. Enacting a state reinsurance program in Virginia is estimated to lower premium costs by up to 20%.

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Small Business Majority Supports State Income Tax Exclusion for PPP Borrowers in Virginia

Small Business Majority submitted written testimony during Virginia's General Session in support of HB 1787, which would establish an state income tax exclusion for Paycheck Protection Program (PPP) borrowers. Small Business Majority called on the House Committee on Finance to support the legislation as it would help small buisnesses by creating parity in how PPP funds are treated at the federal and state level. 

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Small Business Majority Opposes SB 1341, Association Health Plans

Today, Small Business Majority sent a letter of opposition to the Virginia Assembly opposing SB 1341, association health plans. These plans would have negative impacts on the marketplace- and consequently on small businesses that already struggle with healthcare costs. Ensuring strong and robust individual and small group healthcare marketplaces is vitally important to Virginia's entrepreneurs because this is essential to keeping costs down for business owners and their employees.

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