Roundtable and Business Coalition Support The Keeping Workers Paid and Employed Act
March 19, 2020
This week, The Roundtable and business organizations wrote to Senators Marco Rudio (R-FL) and Susan Collins (R-ME) in support of The Keeping Works Paid and Employed Act.
The letter points out two key elements of the Act that would support small business during this crisis:
- An emergency loan program to support small businesses during this crisis, with loans made available through private banks, supported with a federal guarantee. Using the private banking system to provide these loans is critical, as small business needs the liquidity immediately.
- Including in the emergency loan program a clause that forgives a portion of the loan equal to an appropriate percentage of payroll (with an appropriate salary cap) for any business that keeps their employees on salary despite having to shut down.