Oregon business leaders advocate for federal grants
North Clackamas, Wilsonville, Tualatin, Beaverton and Hillsboro chambers of commerce joined more than 100 business organizations to launch America's Recovery Fund Coalition group this month.
The alliance of more than 100 trade associations and business organizations includes the Oregon State Chamber of Commerce and the Save Small Business Coalition in advocating for a grant-based federal assistance program. Together, the coalition's members span 30 business sectors and employ 45% of the nation's workforce, more than 58 million workers.
"Small business is the lifeblood of our state," Laura Edmonds, CEO of the North Clackamas Chamber of Commerce. "Although we appreciate all the hard work our federal legislators are doing in providing PPPL and EIDL loans, we are seeing them slip through the funding cracks. Now, more than ever, we need to support new funding mechanisms to keep them alive. The jobs and families they support are at risk and we simply can't sit back and watch them disappear."
In a letter sent to President Trump, congressional leaders and the Secretary of the Treasury, the America's Recovery Fund Coalition said: "Existing programs like the Paycheck Protection Program were a well-intentioned effort to help defray the impact of the COVID-19 economic crisis, but we must build upon the current options and address the overwhelming need for additional capital support to businesses. A broad based, efficient recovery fund that does not pick winners and losers is the best path forward. Without such a fund, our retailers, theatres, restaurants and many other industries will be decimated — and our communities will be poorer both economically and culturally as a result.
"America's Recovery Fund Coalition believes Congress must urgently create a federal direct assistance fund to provide rapid liquidity to businesses impaired by the COVID-19 national emergency. We believe the fund should be designed to help businesses maintain ongoing capital obligations during the prolonged crisis and the next months of economic healing, enabling employees to continue receiving pay, maintain benefits and helping employers rehire former employees while workplaces get back on their feet and safely reopen to the public."
To learn more, visit AmericasRecoveryFund.org.
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