American Rescue Plan Supports Wisconsin Small Businesses
Baldwin Votes for Federal Funding to Help Wisconsin Small Businesses Stay Open and Reopen
WASHINGTON, D.C. – Today, the House of Representatives will vote on final passage of the American Rescue Plan and send it to President Biden to be signed into law. On Saturday, Senator Baldwin voted to pass the legislation in the Senate, with includes federal aid for Wisconsin small businesses, including restaurants.
Senator Baldwin has consistently supported providing federal aid to help Wisconsin’s small businesses stay afloat during the pandemic. She worked to make sure the American Rescue Plan includes funding for independent restaurants and their workers, live entertainment venues, and has also supported reforms to improve the Paycheck Protection Program to reach underserved communities and the smallest, most vulnerable businesses.
The American Rescue Plan Act includes more funding and support for Wisconsin small businesses:
· Establishes a $25 billion Restaurant Revitalization Fund, which will provide grants to help local restaurants keep their doors open and keep their workers employed.
· Adds $15 billion for the Targeted Economic Injury Disaster Loan (EIDL) Advance program to help the hardest-hit small businesses.
· Reauthorizes the State Small Business Credit Initiative, providing $10 billion in new funding for the program to help small businesses grow and create jobs.
· Provides an additional $7.25 billion for the Paycheck Protection Program (PPP) and expands eligibility for nonprofits and digital news outlets.
· Provides an additional $1.25 billion for the Shuttered Venue Operators Grant Program to support live entertainment venues.
· Allows businesses that received PPP loans in 2021 to be eligible for the Shuttered Venue Operator Grant Program.
· Establishes the Community Navigator pilot program to improve access to COVID-19 relief, especially for underserved communities.
An online version of this release is available here.
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