U.S. Chamber urges swift enactment of new funding

The U.S. Chamber of Commerce enthusiastically greeted the news Tuesday, April 21 that the administration and Congress have reached a deal to increase funding for small business owners under the CARES Act and called for swift enactment.

“We applaud congressional leaders and the administration for reaching a deal to increase desperately needed funding to support America’s small businesses during this difficult time,” said Neil Bradley, executive vice president and chief policy officer for the U.S. Chamber of Commerce.

“We urge Congress and the administration to closely monitor the funds available and act swiftly to add additional resources before the funds reach their statutory limit,” Bradley added. “Congress must next turn to making the necessary technical corrections to programs created in the CARES Act to ensure that all employers — especially all small employers — have access to critical support during this time.”

Ensuring lending facilities have the resources they need to supply these loans makes a big difference and helps set small businesses up for success. The Chamber has seen firsthand the difference these funds can make in the livelihood of small business owners and the importance of opening up additional funding for more small businesses.

On Monday, April 20 the Chamber and the Council of State Chambers announced a joint task force to support and coordinate the federal and state approaches to reopening the economy. The joint chamber task force will help ensure greater collaboration between the business community and government at the federal and state levels.

“Unprecedented coordination between business and government is needed to map how we can begin a gradual reopening of American businesses,” U.S. Chamber President Suzanne Clark said. “It is critical that states, local governments and business sectors learn from one another on the best ways to prudently reopen the economy, and this new task force is key to achieving that goal.”

The task force will include representatives from all 50 states. The U.S. Chamber will work with the task force to help address federal issues and will work with COSC to monitor and coordinate best practices at the state and local levels.

“We’re all in this together and by joining forces we will help America recover the right way, and we’ll be uniting business for good,” said Mark Wilson, chair of the Council of State Chambers and president and CEO of the Florida Chamber of Commerce. “It’s very clear that many of us are, or have, launched state-specific restart and recovery plans, and this task force will accelerate the efficient and important exchange of information between local, state and national leaders.”

The task force will convene weekly to address concerns, share best practices and make unified recommendations. Members of the task force will be asked to seek feedback from local business and community leaders and share that information with other key stakeholders.

The U.S. Chamber of Commerce recently launched the Save Small Business Initiative, a nationwide program to provide supplemental funding, resources and webinars, research and advocacy for small businesses. To learn more, visit www.uschamber.com/save-small-business.