The Job Creators Network (JCN), one of the country’s largest pro-jobs grassroots organizations, sent a letter on Thursday, along with 28 business advocacy groups, endorsing Sen. Marco Rubio (R-FL) and Sen. Susan Collins (R-ME)’s Keeping Workers Paid and Employed Act to support businesses impacted by the coronavirus.
“First, an emergency loan program to support small businesses during this crisis, with loans made available through private banks, supported with a federal guarantee. Using the private banking system to provide these loans is critical, as small business needs the liquidity immediately,” the letter reads.
“Second, including in the emergency loan program a clause that forgives a portion of the loan equal to an appropriate percentage of payroll (with an appropriate salary cap) for any business that keeps their employees on salary despite having to shut down,” the letter continues.
Small businesses’ backs are up against the wall and the Rubio-Collins bill is a save small business operation that should receive unanimous support in the Congress,” said Alfredo Ortiz, JCN President and CEO. “The Keeping Workers Paid and Employed Act will help keep America’s small business community up and running and set the stage for a Main Street Recovery when this is over.”
The letter from Job Creators Network comes as Senate Republicans are moving to finalize legislation for “Stage 3” of the economic stimulus package, including provisions that would provide U.S. households with direct payments from the federal government.
Earlier this week, JCN launched a 30-second ad asking small businesses what they need the Trump administration and Congress to do to help them wade through the coronavirus.
Jerome Hudson is Breitbart News Entertainment Editor and author of the bestselling book 50 Things They Don’t Want You to Know. Order your copy today. Follow Jerome Hudson on Twitter and Instagram @jeromeehudson