Message from NBA President Alfreda Robinson
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We Urge Congress to pass the
New Small Business and Healthcare Stimulus Bill
NBA Members, Sponsors and Others:
I trust that you are healthy and safe.
The 30.7 million small businesses in the U.S., which account for 99.9 percent of all U.S. businesses, have taken a severe hit by the COVID-19 pandemic and stay at home orders. Small businesses employ 58.9 million people, which accounts for 47 percent of the country's total employee workforce. More than 22 million Americans have filed for unemployment benefits in the past four weeks.
The Trump administration and Congressional leaders are negotiating a deal on an approximately $470 billion legislation ($310 billion for the Paycheck Protection Program and $60 billion for a separate emergency loan program for small businesses), to renew funding for the COVID-19 small-business loan program that ran out of money almost immediately.
The bill would also increase expenditures for hospitals and coronavirus testing by about $100 billion ($75 billion for hospitals and $25 billion for testing).
Importantly, $60 billion in the new funding for the Paycheck Protection Program would be targeted specifically for smaller financial institutions to ensure loans for minority and women small businesses, and lower-served areas.
We urge Congress to pass and the President to sign this urgently needed legislation immediately.
I ask all NBA members, sponsors and others
to contact members of Congress and the White House and demand immediate passage of this critically needed legislation.
Thank you in advance for doing so.
Stay Healthy, Safe and In Place.
Alfreda Robinson
Alfreda Robinson
President & CEO
National Bar Association
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