The effects of the coronavirus are being felt across the world as people practice social distancing, which is having a significant impact on our local businesses and employees. We recognize that both short-term measures and long-term solutions will be needed to restore the health of our local, state and national economies.
CMSC supports many of the advocacy and legislative initiatives being put forward at the state and federal level. If you can, please add your voice of support to the following:
Sens. Murphy, Merkley, Van Hollen Propose Robust Rescue Plan for Small and Mid-size Businesses and Nonprofits – This proposal for “The Main Street Emergency Grant Program” would provide much-needed liquidity for small and medium businesses during the economic crisis caused by COVID-19. The Main Street Emergency Grant Program would allow small businesses to apply for grants through the Treasury Department to cover fixed costs like payroll and rent. Those grants would revert to loans that would have to be paid back only if the business fails to prove it is meeting criteria under the proposal. It would also allow mid-size businesses to access to forgivable loans.
- What the Federal Government Needs to Do to Enable Small Businesses to Survive the Coronavirus Crisis – The Institute for Local Self-Reliance, together with more than a dozen national and local small business organizations, have put forward a proposal to assist small businesses that includes grants and subsidies, loans, and other support for small businesses and employees.
- Connecticut Restaurant Association Letter to Governor Lamont – This letter lays out 4 requests to Governor Lamont for immediate assistance to restaurants. They include 1) Immediate & Significant Capital Injections; 2) Forgive Sales Tax Payments for At Least 3 Months; 3) Fund a State-Backed Business Interruption Insurance program; and 4) Address Unemployment Compensation Issues.
Looking forward, we will continue to gather input from our member communities and industry partners about how we can best address the challenges presented by the coronavirus.
- Please feel free to contact us with ideas for state policy, regulations, loans or programs that you think will be beneficial to our communities and businesses.
- CMSC continues to meet with Downtown/Main Street Working Group of the legislature, led by state Reps. Jane Garibay and Quentin Phipps. We will continue to present ideas, information and proposals to the group as we go forward.