HEROES Act Important, but short term solution

On the passage of the HEROES Act in the House today - Executive Director of the Main Street Alliance Amanda Ballantyne had this to say:

“It was important for the House to pass the HEROES Act, which included immediate and necessary fixes to the Paycheck Protection Program, an expanded payroll subsidy program through the Employee Retention Tax Credit and other needed provisions.

However, these are short term solutions to a long term crisis that is roiling our economy, endangering small businesses and throwing millions of people’s lives into financial chaos. To preserve our small business economy, we need legislation that creates lasting certainty for small business owners. We must look to a set of programs that work together to mitigate mass unemployment and stabilize small businesses.  Proposals like the Paycheck Guarantee Act, Saving Our Streets Act, and work-sharing expansions need to be worked into this next relief package.  Small business owners also need critical financial support in the form of grants, not loans, for retrofitting for safety in this ongoing pandemic.”

Read more on where the HEROES Act can be improved, and how the Senate should bolster these important fixes.