ARFC Calls for Passage of “Small Business Comeback Act”
America’s Recovery Fund Coalition (ARFC) issued the following statement after an additional 1.4 million jobs were lost in the last week, bringing the total number of people to file for unemployment since the pandemic began to over 52 million.
“The American economy is on life support. The potential for long-term economic damage, exacerbated by inaction from Congress, is growing by the day, and today’s unemployment filing numbers are just the latest example of the bleak economic reality we are living in,” said Trevor Hanger, research director for ARFC.
“Fortunately, there is a roadmap to recovery in the bipartisan Small Business Comeback Act, introduced earlier this week by Representatives Filemon Vela and Lance Gooden. We implore members of the House to cosponsor the bill, and members of the Senate to look to it as a framework for crafting a companion bill in their chamber. The American people need bold leadership. Time is running out for America’s economic recovery. Congress must pass the Comeback Act now.
“Since the pandemic began, countless businesses have closed permanently, leaving neighborhoods pockmarked with the shattered dreams of business owners and the employees and communities that rely on them. Over 52 million Americans have been forced to file for unemployment. Yet some in Congress continue to argue enough has been done. Delinquencies on mortgages are up; contract and temporary jobs are down over 25 percent year-over-year; and the economy is lurching from closed, to reopening, to closed again. American businesses provide financial security that is desperately needed by the American people in these challenging times – more not only should be done but must be done. Our livelihoods depend on it.”