WASHINGTON, D.C. – Today, U.S. Senator Jacky Rosen (D-NV), released the following statement highlighting her work to support Nevada’s small businesses in 2020:
“Across our state, small businesses have felt the crippling effects of the COVID-19 pandemic,” said Senator Rosen. “More than 99% of businesses in Nevada are small businesses, and during a time of extreme economic hardship, we cannot afford to leave our small business community behind. Through bipartisan legislation and outreach with our local chambers, my office has worked to ensure that Nevada’s businesses have the resources and support they need. I will continue fighting for Nevada small businesses, for workers, and for any Nevadan in need of help.”
BACKGROUND: In 2020, Senator Rosen’s office was able to directly assist 1,071 Nevada small businesses.
Senator Rosen has introduced the following bipartisan bills to support Nevada small businesses:
- EIDL for Small Businesses Act. The bill would provide billions of dollars in aid to small businesses during the coronavirus pandemic through the EIDL and EIDL Advance programs and lift the caps on both. A key part of this legislation – funding $10,000 EIDL Advance grants for low-income businesses and allowing many past EIDL Advance recipients of all sizes to get the full $10,000 grant – was included in the COVID relief package that recently passed the House and Senate.
- The Filtering and Retrofitting the Environment for Safe and Healthy Activities Indoors and Revenue (FRESH AIR) for Businesses Act. The bill would provide a refundable tax credit to businesses and non-profit organizations that purchase or upgrade their air ventilation, filtration, and purification systems to help mitigate the spread of COVID-19 and other airborne diseases.
- Small Business Child Care Investment Act. The bill would allow nonprofit child care providers to participate in the Small Business Administration’s loan programs.
- Small Manufacturer Cybersecurity Enhancement Act. The bill would provide cybersecurity assistance for small manufacturers in the defense industrial supply chain. This legislation passed the House and Senate as part of the FY2021 National Defense Authorization Act and is expected to become law.
- STEM RESTART Act. This bill would provide funding to small and medium-sized STEM businesses to offer robust, paid, mid-career internships, known as “returnships”, for mid-career workers seeking to return or transition into the STEM workforce.
- Improving Cybersecurity of Small Organizations Act. This bill would require the Cybersecurity and Infrastructure Agency (CISA) to maintain and promote cybersecurity best practices guidance for small organizations, which includes small businesses, small non-profits, and small governmental agencies.
- Improving Telework Cybersecurity for Small Organizations Act. The bill would direct CISA, in consultation with the FTC, to publish resources of best practices for small businesses, non-profits, and local governments to boost cybersecurity with respect to teleworking, as a result of COVID-19.
Senator Rosen has co-sponsored the following bills to support Nevada small businesses:
- Small Business Expense Protection Act. This bipartisan bill would clarify that ordinary business expenses paid for using funding obtained through the Paycheck Protection Program (PPP) are tax-deductible. The provision was included in the COVID relief package that recently passed the House and Senate.
- RESTART Act. The bipartisan bill would create a new loan program to help small and mid-sized businesses and non-profits cover 6 months of payroll, benefits, and fixed operating expenses.
- Heroes Small Business Lifeline Act. This comprehensive bill would 1) extend PPP through March 2021 with improvements and targeted funding for underserved borrowers, along with a second round funding of PPP, 2) extend and expand the Debt Relief program which expired Sept 27th, 3) ensure PPP eligibility for all non-profits, 4) enhance of SBA’s main lending programs, 5) support key Nevada industries through the Save Our Stages Act and the RESTAURANTS Act, 7) provide local broadcasters eligibility for PPP, and 8) lift the cap on EIDL loans and grants. Several of these provisions were included in the COVID relief package that recently passed the House and Senate.
- Save Our Stages (SOS) Act. The bipartisan bill would make SBA grants available to eligible live venue operators, producers, promoters, or talent representatives. $15 billion of direct aid for small live entertainment venues was included in the COVID relief package that recently passed the House and Senate.
- RESTAURANTS Act. This bipartisan bill would create a $120 billion revitalization fund at the Treasury Department to provide grants to restaurants, food stands, food trucks, food carts, caterers, saloons, inns, taverns, bars, lounges, or other similar businesses of 20 employees or less to help with expenses such as payroll, benefits, mortgage, rent, utilities, maintenance, supplies, food, and debt obligations to suppliers.
- PPP Extension Bill. A bipartisan bill to extend PPP through August 8, 2020. This bill became law.
- COVID-19 RELIEF for Small Businesses Act. The bill, which included numerous provisions that eventually were included in the CARES Act, would improve and create new SBA tools for small businesses and waive the disaster declaration requirements for access to EIDL.
- Paycheck Protection Small Business Forgiveness Act. The bipartisan bill would simplify the loan forgiveness process for small businesses participating in PPP who have received loans of less than $150,000. The provision was included in the COVID relief package that recently passed the House and Senate.
- SECURE Small Business Act. The bipartisan bill would require the SBA to help small businesses purchase cybersecurity products and services.
- Interagency Committee on Women’s Business Enterprise Act. The bipartisan bill would reform the Interagency Committee on Women’s Business Enterprise, which focuses on identifying barriers to new business formation and obstacles to assistance within the federal government that women experience.
- Small Business Relief From Communicable Disease Induced Economic Hardship Act. The bill would: 1) Expand the definition of a disaster to include a communicable disease for which the federal government has issued a travel alert or warning, allowing small businesses who have been impacted by the coronavirus to access Economic Injury Disaster Loans (EIDL) of up $2 million to help meet financial obligations and operating expenses; 2) Make it easier for small business to access EIDLs by adding a triggering event for which the EIDL may be used; and 3) Make the EIDL loans interest free.
- PPP DEAL Act. This bipartisan bill would allow PPP loans to be eligible for loan forgiveness equal to the amount spent on covered expenses during a 16-week period after the start date of the loan. It would also change the rehire date deadline from June 30 to 16 weeks after the start date of the loan.
- Small Business Debt Relief Extension Act. This bipartisan bill would extend debt relief for small businesses through at least February 2021 for SBA-backed loans, including 7(a) loans, 504 loans, and microloans.
Senator Rosen also helped lead the effort to change an SBA and Treasury rule that prevented small gaming businesses from having access to PPP loans. As a result of her efforts, all otherwise eligible gaming small businesses in Nevada can access federal relief.
Over the past year, Senator Rosen has partnered with Nevada’s Small Business Administration regional representatives and local chambers of commerce and organizations – including the Vegas Chamber, the Reno-Sparks Chamber of Commerce, Nevada’s rural Chambers of Commerce, the Nevada REALTORS, the Las Vegas Urban Chamber of Commerce, the Las Vegas Latin Chamber of Commerce, and the Las Vegas Asian Chamber of Commerce – to provide updates on the federal government’s response to the COVID-19 crisis and answer questions on access to federal resources.
Senator Rosen’s office is working every day to ensure Nevadans stay up to date on the latest news on the coronavirus, as well as provide a list of resources to assist Nevadans.
Senator Rosen’s website includes a bilingual online resource portal to assist small businesses in Nevada affected by the COVID-19 pandemic. Small businesses that are experiencing difficulties navigating federal assistance can also send their inquiries and questions to SmallBusiness@Rosen.Senate.gov, and a team of dedicated bilingual professionals will respond to provide assistance.