DearColleague.us

Letter

Ilhan Omar

From the office of:

Ilhan Omar

Sending Office: Honorable Ilhan Omar
Sent By:
Yonathan.Teclu@mail.house.gov

        Request for Cosponsor(s)

Become a Cosponsor to the ABLE Act

*SIGN HERE*

Cosponsors: Norton*, Schakowsky*, Tlaib*, Wilson (FL)

Dear Colleague,

Many small businesses and affected workers, especially in the food service industry, hospitality sector, and gig economy, already cannot afford to cover such major disruptions in demand and economic productivity. The unprecedented harm from COVID-19 to our
economy and society must be met with unprecedented action to ensure that both workers’ paychecks are protected and small business owners’ solvencies are prioritized. With the troubling

reports
of banks in the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) favoring large companies over the most disadvantaged small businesses, Congress must take action on reforming and simplifying the program to solve its current
access barriers, distribution/lending challenges, and overall lack of oversight with funding. 

That is why I would like you to please join us as a cosponsor of H.R. 6409, the Assistance for Businesses and Local Economies (ABLE) Act, which would require the federal government to cover all the needs of significantly affected American businesses
and workers as effectively as possible by:

  • Fully compensating the maintenance costs of all affected small businesses from substantial economic injury as a result of the coronavirus’ shutdown effects.
    • This federal assistance would cover 100% essential maintenance costs, self-reported by businesses, including payments for rents, utilities, health insurance and additional paid leave for workers, interest on debt, and any other necessary
      capital costs.

      • There would be no strict cap on the award amounts but the Small Business Administration would be given, at least,
        $500 billion dollars for non-conditional grantmaking, meaning it would be a grant-to-loan program (rather than the current loan-to-grant mechanisms of PPP).
    • Priority will be required to be given to certain small businesses that need this aid as soon as possible, such as minority-owned, woman-owned, and veteran-owned businesses; businesses at or under 100 employees;  businesses with owner pay less than 25 times
      the average worker pay; businesses that have not laid off workers or are planning/willing to rehire immediately; and businesses with sufficient labor contracts.
    • IRS will be responsible for rigorous control and verification ex post to protect from any fraud, abuse, or overpayment of the fund.
  • Massively enhancing unemployment insurance payments for all affected workers from substantial economic injury as a result of the coronavirus’ shutdown effects.
    • This federal assistance would meet 100% current salary and/or lost wages for workers of qualifying small businesses, plus affected independent contractors, tipped workers, domestic workers, gig economy workers, freelancers, and self-employed
      individuals, to encourage rehiring and streamline any other issues of business payroll support.

      • UI caps would vary from an additional
        $3000 to $5000 per month
        for certain workers.
    • These direct payments would be integrated with the current UI programming by acting as supplementary benefits in order to reach a full replacement rate for workers’ salaries and lost/unfulfilled wages, in effect covering and protecting their paychecks for
      the duration of this pandemic.
    • This temporary expansion of UI payments would occur monthly for 5-6 months but could be extended further by Congress, until the coronavirus pandemic is declared over.

From the
United Kingdom
to
Denmark
, many countries have already started to take strong action to cover employment and business activity in effect freezing and shielding their economies from coronavirus shocks. We must take similar measures of injecting immense amounts of capital into
our economy to put money directly into the hands of vulnerable workers and struggling businesses now. To become a cosponsor to the ABLE Act, please fill out

this form
, and if you have any questions, contact Yonathan Teclu (yonathan.teclu@mail.house.gov) in my office. 

 

Sincerely,

 

Ilhan Omar

Member of Congress

Related Legislative Issues

Selected legislative information: Economy, Finance, Labor, Small Business

Related Bill Information

Bill Type: H.R.
Bill Type: 6409
Special Note:

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