On Monday, the Small Business Comeback Act (H.R. 7671) was introduced in the House by Representatives Filemon Vela (D-TX) and Lance Gooden (R-TX). The bipartisan legislation is receiving praise from businesses across the country. Below is a sample of what people are saying: “The Partnership represents almost 900 small businesses across Eagle County, each of … Continued

Most economists abandoned hope for a “V-shaped” recovery long ago   As the continued spread of COVID-19, slowed reopening, and returns to shutdowns exact a high price from the economy, a recent New York Times article and flatlining unemployment claims paint a dark picture for America’s recovery. From the Times article: “Most economists abandoned hope … Continued

Banks stockpile $28 billion to cover losses as businesses default on their loans   While many heralded the recent positive job reports as signs of an upward economic swing, reality has begun to set in for America’s largest banks—and it isn’t pretty. After announcing hits to their second quarter profits, executives sounded the alarm that … Continued

More than 40% of adults plan to cut back on discretionary spending    According to Bloomberg News, the road to economic recovery is littered with consumer concerns. Despite the dire warnings sounded by the business community – 60 percent of small businesses say they will need to close permanently if revenues do not return to normal by the end of the year – concerns over public health and the … Continued

As the reprieve granted by the brilliance of Independence Day fireworks fades, gloomy economic prospects for the retail industry are once again making headlines. This week, the New York Times published an article warning of the dire state America’s retailers, including large malls, find themselves in. America’s shopping malls are populated by independently owned small … Continued

Unemployment remains at historic highs even as fiscal stimulus allows businesses to rehire   America’s Recovery Fund Coalition (ARFC) issued the following statement after the release of the June jobs report. While the report showed gains in the U.S. job market, total unemployment remains alarmingly high at 18 percent. “Since March, over 48 million Americans … Continued

Several industry associations urge Congress to authorize zero-interest loans.   We wanted to bring to your attention a letter from the Economic Innovation Group, signed by America’s Recovery Fund Coalition, that was sent to congressional leadership yesterday. As reported by POLITICO:   “Several industry associations are urging Congress to authorize zero-interest loans that would mature for up to 30 years as part of the next phase … Continued

In the dark and struggling with shutdowns, many business owners still need help.   As the application window for the Paycheck Protection Program (PPP) draws to a close, we wanted to highlight an Associated Press report concerning over $140 billion in unclaimed funds. The amount of money being left on the table has raised questions over whether PPP can be the complete solution to America’s economic recovery.   “It seemed to be structured by people … Continued

Layoffs continue, businesses operate below capacity as COVID-19 fears persist   Following the reopening of some states, COVID-19 cases are surging across the nation, leading many to question whether the recent uptick in economic activity will be short-lived. According to Bloomberg, former Treasury Secretary Lawrence Summers ”told the Economic Club of New York on Wednesday … Continued