As small businesses continue efforts to reopen and Congress and the Administration prepare the next phase of legislation, the National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, issued a plan, “NFIB Phase Four Legislative Priorities for Small Business Recovery,” today. The plan lays out five legislative priorities to help ensure that America’s small businesses continue to have the resources and protection they need to move forward during the health crisis and recover economically.
“Small businesses, which make up half the U.S. economy and account for nearly half of all jobs, have been the hardest hit during this unprecedented COVID-19 pandemic. The challenges they face are not of their own making, and small businesses across the country are doing everything they can to take care of employees, reopen their businesses, and help their communities,” said NFIB President Brad Close. “Relief efforts by the Administration and Congress have allowed many to remain afloat, but there is still more work to do. These proposed legislative recommendations reflect our members’ concerns and will help provide support and protection they so desperately need.”
NFIB previously issued a 10-point plan in April as small businesses across the country faced unprecedented shutdowns due to the COVID-19 pandemic. Elements included in that plan were incorporated into subsequent legislation.
The Phase Four Legislative Priorities NFIB issued today includes recommendations that will help our country’s smallest businesses, including securing financial assistance, creating strong liability protections, providing targeted tax relief, and reforming unemployment insurance:
- Financial Assistance: Secure near-term and longer-term financial assistance programs for the smaller businesses with continuing financial needs.
- Liability Protections: Create strong liability protections that enable small businesses to reopen safely and smartly without the fear of devastating lawsuits.
- Tax Relief: Provide tax relief for small businesses so they can recover faster, keep and hire employees, and bolster their communities.
- Unemployment Insurance Reform: Reform unemployment insurance so small businesses can quickly fill open positions and get the economy growing again.
- Regulatory Relief: Protect small businesses from additional regulatory requirements or expanding existing mandates.
The plan can be found here.