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Bipartisan Coronavirus Legislation Will Help New Hampshire’s Struggling Main Street Economy

March 26, 2020

Bill includes critical measures that Pappas fought for to alleviate the detrimental impact of the coronavirus crisis on Granite State small businesses and workers.

Today, Congressman Chris Pappas (NH-01) applauded the Senate passage of the latest coronavirus response and relief package that includes substantial aid to hospitals and health systems, a significant increase in Unemployment Insurance benefits for workers, and direct payments to American families to help them weather the current economic downturn.

Last week, Pappas urged House leaders to address the pressing needs of small businesses and workers, calling on them to prioritize a Main Street economic rescue plan in the third coronavirus package. Along with Members of Congress from both parties, he successfully fought for targeted tax credits to help prevent layoffs as well as a dramatic expansion of direct federal financial support for these businesses.

"I'm pleased to see the bipartisan deal pass unanimously in the Senate," said Congressman Pappas. "It is critical that we work together to provide immediate funding for the most essential elements of our fight against coronavirus in New Hampshire and across the country. Senators Shaheen and Hassan deserve our thanks for their work and advocacy to move this bill through the Senate and onto the House, and I look forward to supporting this legislation and sending it to the President's desk for his signature. It is essential that we not let up in our efforts to support families, small businesses, and our workers who are suffering through this pandemic and the resulting economic crisis. This package reflects the scale and urgency this moment requires, and it shows we can come together in a bipartisan fashion and deliver meaningful relief."

Specifically, to support America's hard-hit Main Street economy, the bill includes:

  • Key components of Rep. Pappas' Too Small to Fail Act, such as eliminating certain eligibility restrictions and fees on SBA loans, providing emergency grants of up to $10,000 for small businesses and non-profits, and deferring loan payments on existing SBA loans for at least 6 months;
  • The restoration of the Employee Retention Tax Credit to help struggling small businesses keep workers on payroll – a step that Pappas and a bipartisan coalition of Members of Congress urged the House leadership to take earlier this week;
  • An additional $600 per week for up to four months in unemployment benefits; and,
  • Direct payments to American families of $1200 for individuals or $2400 for couples, with an additional $500 per child for families.