Senate Leaders Push Plan for $550M in Small-Business Assistance
Pennsylvania Senate leaders May 28 pressed their plan to include $550 million in small-business assistance in a new state budget designed to relieve the economic impact of the COVID-19 outbreak.
May 29, 2020 at 01:00 PM
2 minute read
Pennsylvania Senate leaders May 28 pressed their plan to include $550 million in small-business assistance in a new state budget designed to relieve the economic impact of the COVID-19 outbreak.
In a tweet, Senate Democrats said its "Main Street Business Revitalization Initiative would use $550M in federal, one-time dollars to help Pennsylvania small businesses."
It would provide infusions of up to $15,000 to businesses impacted by the pandemic. The money would be allocated to Pennsylvania under the federal CARES Act.
"This pandemic has exposed the fragile ecosystem and slim margins that small businesses and their workers function within every single day," said Senate Minority Leader Jay Costa, D-Allegheny. "As Pennsylvania begins to recover both economically and physically from the COVID-19 pandemic, we must make sure that our business owners have the resources they need. We must seek a just recovery from this pandemic."
Costa said $125 million of the assistance plan should be provided to historically disadvantaged businesses.
Pennsylvania has received $4 billion from the federal government that must be spent or allocated by Dec. 31.
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