Bail out Main Street, not Wall Street

We need to Keep Main Street Working.

If we don’t take immediate drastic action, small businesses and our entire economy will be decimated by COVID-19. 

The small business sector employs more than 50 million Americans. And our livelihoods in this country are tied to employment. When jobs are on the lines, so are the essential benefits we need to survive: health care, sick days, income. The most efficient way to handle the crisis we’re facing is to keep small businesses solvent and workers employed. Our state based infrastructures are not built for a pandemic. People will be left waiting for a life line.

Small businesses quickly began reporting 10 - 80% decreases in revenue, and many have already been forced to lay off staff and close their businesses. The crisis is taking a toll around the country.

It’s time for a massive stimulus for Main Street. For too long, big businesses have been the only beneficiaries of government bailouts, and we know that these bailouts have largely been spent on stock buy-backs to benefit executives and shareholders and not workers on the front lines. 

We need small business stimulus investment now. We need to Keep Main Street Working. It would prevent the carnage to our local economies, our families, and health care facilities and workers. 

Main Street small businesses employ – nearly half of the private sector workforce. Small businesses have traditionally led economic recovery, and they accounted for 67 percent of net new jobs following the Great Recession. We need to give small businesses the support they need to drive recovery again. 

Main Street Alliance is calling for an unprecedented rapid cash infusion that realizes the critical economic importance of small business. Many of our doors are already closed, our economy can’t afford for more to shut.

We need urgent action to reduce both the public health and economic impacts of COVID-19 on our local and national economies and potentially stave off a longer term economic crisis or recession. Immediate emergency actions must be taken including: 

  • Immediate Cash Flow Assistance for Impacted Small Business Owners - direct to all small businesses impacted by COVID-19 to cover immediate business expenses to keep their door open and employees paid (payroll, insurance premiums, paid sick time, rent.) Delay or waive utilities, vendor contracts and ban collection actions. 
  • Unemployment Insurance and Other Income Supports - federal and state governments should coordinate to dramatically expand who is eligible for Unemployment Insurance to provide immediate and improved income support for small businesses and their employees, and small business experience ratings should not be impacted by layoffs related to COVID-19.
  • Affordable Healthcare & Emergency Measures to Protect Coverage - COVID-19 testing, treatment, and vaccine must be widely accessible and affordable, and states should work with insurance providers to help ensure that small business policies are extended through this crisis, even if a small business owner experiences cash flow issues in their businesses that make paying short-term payments difficult. 
  • Earned Sick Leave and Paid Family and Medical Leave (PFML) - we support passage of emergency legislation to guarantee 10 paid sick days and 12 weeks paid leave to all workers, together with needed cash advances so small businesses can deliver this benefit to impacted employees. Comprehensive national paid leave legislation is also needed so we are better prepared for future health crises.

Small businesses across the country demand swift action from our government. An immediate cash injection is the only thing that will help us and our employees now.

 

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Showing 996 reactions

  • Temo Rodriguez
  • Lon Finkelstein
  • Sean London
    Thank you for supporting and advocating for all of us in the small business community!!
  • Martha Davis
  • Melanie Goodpasture
  • Sonam Lama
  • Sean London
    Thank you for the work you are doing!!
  • Mark Estes
  • Will Cervarich
  • Rebecca Shaw
  • Jonel Stahr
  • Taya Geiger
  • Taya Geiger
  • Dave Levine
    The PPP Loans are a great step in the right direction, but the first two tranches are not nearly enough to satisfy ALL small businesses. If we can’t offer the forgivable loans to ALL small businesses, we are creating winners and losers. The focus of future legislation needs to be on truly “small” businesses, i.e. those with fewer than 50 employees.
  • Renee Cote
  • Charles Ordway
  • Joan Kraus
  • Sherry Thomason
    Help is needed for the small, family run businesses.

    The Federal help went to businesses that should have been disqualified from even applying.

    Solo entrepreneurs are being overlooked. What does that say about the American dream of owning your own business?
  • Suzy Ultman
  • Anthony Sarno
    solo and really small businesses (<9) generated over 2 trillion in revenue. We need a bottom up approach to ensure small business solvency and build a blueprint to America 2.0. PPP and NewPPP must send funds direct to the business owners financial institution to bypass inefficient and corrupt entities. When I first crunching the numbers I was surprised how erroneous the Cares Act is. Mr. President, are they errors or intention. It is unlikely the national economy will be sustained when the bottom falls out when 2 trillion dollar in cashflow disappears. The value of the intangible assets the millions of genius entrepeneurs, while not visible, are the engine of free cashflow. If we applied GAAP to small businesses the value of intangilges would likely be in the hundreds of trillions. I pray you in DC know than we know and there are reasons. But I fear the chance of getting our republic back is diminishing each day that passes and every time I hear how self-centered greed is allowed to prevail over the innocence of good minded people. This will continue as good people cannot comprehend the evil nature possible in their fellow man. “It is easier to fool someone than convince them they have been fooled”. Mark Twain.

    “You can fool all the people some of the time and some of the people all the time, but you cannot fool all the people all the time” A. Lincoln
  • Patrick McMahon
  • Barbara Burr
  • Jennifer Pyon
    My name is Jennifer Pyon I am writing on behalf of my mom, KUM KANG who runs and operates a business that has been in open and in the family since 1985 facing major financial issues due to not being able to get any financial help during the COVID-19 pandemic. We need help in what we can do now and where to go for help! We too heard the unfairness of how banks are lending to larger Corp owned businesses for their own financial gain and we are upset due to the lack of transparency on how trillions and billions of so called small business help is not reaching us nor thousands of other small business owners (ones that have 10 to 50 employees or who are sole proprietors or small Ma and Pa businesses! We need help now and support and endorse any policy or advocacy that can fight for us so we don’t lose our businesses and fail our loyal employees’
  • Jessica McCollum
  • Michael Kirchner
  • Ken Linge
  • Charlie Walch
    I have a better way of handling cash to businesses and minimizing unemployment. Go to coronastickybomb.com for details
  • Eva Dannenberg Alexander
  • howard Stovall
  • Alexandre Kaluzhski