Rep. Davis: COVID-19 Aid Bill Needed To Help Small Businesses | WGLT

Rep. Davis: COVID-19 Aid Bill Needed To Help Small Businesses

Mar 23, 2020

U.S. Rep. Rodney Davis said Monday the coronavirus aid package which stalled in the U.S. Senate would provide much-needed help for small-business owners who face uncertain times.

“We are in unprecedented times,” said Davis, a Republican from Taylorville. “We have to make unprecedented decisions that I know will be second-guessed in the future, but my small businesses who have contacted me or have contacted my staff, we hear you.”

Davis said an aid bill Congress passed earlier this month does help by offering tax credits for small businesses whose workers did not have paid leave. The measure also gives protections for employees if they need to take leave.

Davis said during a conference call with small-business owners on Monday the coronavirus has caused uncertainty for many business owners who were benefitting from the recent economic recovery.

“It’s taken one virus three weeks to totally upend our economy and really hit our Main Street businesses and those folks who work hard in those businesses, they’ve been hit the hardest,” David said.

The latest aid bill would pump $300 billion into the economy by delaying payroll taxes.

Democrats have blocked the measure so far, saying they want expanded jobless benefits and more restrictions on help to large corporations.

U.S. Sen. Dick Durbin said he expects the two sides will come to an agreement by the end of Monday.

“(Senate Minority Leader Chuck Schumer) came to the floor and didn’t say arms crossed, ‘We’re stonewalling.’ He said he had to leave the floor to go back to negotiate,” Durbin said. “With whom? With Republican leaders from the White House. That is the way it should be. We’re going to get this done today.”

The federal government has also approved loans of up to $2 million through the Small Business Administration. Businesses could secure the loans at 3.75% interest, while nonprofit businesses would pay 2.75% interest.

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