Chairwoman Velázquez Releases Comprehensive Small Business COVID-19 Relief Bill
Washington, March 19, 2020
Washington, D.C.— Today, House Small Business Committee Chairwoman Nydia M. Velázquez (D-NY) introduced the COVID–19 Relief for Small Businesses Act of 2020, comprehensive legislation that would provide relief to small businesses facing consequences from the ongoing COVID-19 outbreak.
“After speaking with my Committee colleagues and hearing firsthand of the struggles facing countless small businesses due to the coronavirus pandemic, I am introducing sweeping legislation to tackle the economic hardship and fallout facing our nation’s employers and workers,” said Chairwoman Velázquez. “This bill offers across the board solutions from channeling capital to small businesses in need by providing zero-interest direct loans, grants, and loan debt relief, to increasing access to federal contracts, and equipping entrepreneurial development centers with the technology they need to serve entrepreneurs remotely.”
The bill summary is available here.
Key components of the bill include:
“All of our Committee members played an important role in crafting a response to this public health crisis,” said Chairwoman Velázquez. “These measures put hardworking Americans first by investing in the entrepreneurial spirit of this country not just through words, but action. As the House considers a major economic stimulus package, I urge my fellow lawmakers not to forget those hurting on Main Streets across the country because of this tragic pandemic.”