Small Business
For years, small business owners have grappled with a struggling economy, ever-changing regulations and tax burdens far higher than those of many Fortune 500 companies. It’s long past time that we recentered our economy around the small businesses that make up 93% of employers in Minnesota’s Second Congressional District.
We must do more to ensure that small business owners have the resources and support they need – not only to keep the lights on but to continue growing and expanding to serve as the economic engines of our local communities. That’s why I’ve spent the past two years working hand-in-hand with many of our small business owners to identify and enact solutions that would help to strengthen our economy and create the pro-business climate we need to support Minnesota. In the midst of the COVID-19 pandemic, I helped establish the Paycheck Protection Program and led the charge in Washington to establish and fully fund the Restaurant Revitalization Fund, which has kept so many of our favorite bars and restaurants afloat. I also introduced legislation to lower the federal tax rate for small businesses to help overcome higher input costs.
Across Minnesota, our small businesses employ thousands and keep our communities flourishing and vibrant. In Congress, I’ll always work just as hard as they do to ensure they can find success in our communities.
More on Small Business
Today, Rep. Angie Craig, a member of the House Small Business Committee, announced the Small Business Administration has re-opened their Economic Injury Disaster Loans (EIDL) after she and her colleagues from the Small Business Committee authored a letter pushing them to do so.
The letter also pushed for increased transparency to understand where the loans have given the help intended to reach small businesses.
U.S. Rep. Angie Craig, a member of the House Small Business Committee, today helped to pass the Paycheck Protection Program Flexibility Act (H.R. 7010) to immediately fix the challenges businesses have in the Paycheck Protection Program.
The Paycheck Protection Program Flexibility Act would:
U.S. Rep Angie Craig, a member of the House Small Business Committee, today continued her push for changes to the small business loan programs to help struggling businesses, especially restaurants and retail outlets hit hardest by the economic consequences of the pandemic.
Rep. Craig is calling on her colleagues to set politics and grandstanding aside and pass the Paycheck Protection Program Flexibility Act immediately to fix the challenges businesses have in the Paycheck Protection Program and Economic Disaster Injury Loans. Craig is a co-sponsor of this bill.
Today, Reps. Angie Craig (MN-02), Lizzie Fletcher (TX-07) and Andy Kim (NJ-03) introduced the Protecting the Paycheck Protection Program Act of 2020. This legislation will ensure that small business owners with Paycheck Protection Program (PPP) loans that are forgiven are also eligible to receive tax deductions for wages and other expenses paid during the period of the loan.
Today, U.S. Rep. Angie Craig convened owners of restaurants and breweries in the Second Congressional District, who have been hit devastatingly hard by the impacts of COVID-19. They focused their discussion on the flexibility needed in programs like the Paycheck Protection Program to support their businesses in the wake of COVID-19.
Today, U.S. Rep. Angie Craig voted in support of the fourth COVID-19 legislative package which meets the urgent need of replenishing small business and nonprofit loan programs, increases testing capabilities and supports doctors and hospitals.
"Whether I'm talking with a third-generation small business or a start-up, the needs are the same-- we need more relief for small businesses now," said Rep. Angie Craig. "This is about more than funding small businesses, this is about keeping the American dream alive."
Today, U.S. Rep. Angie Craig sent an urgent letter to House and Senate Leadership asking them to immediately provide additional funding for the Paycheck Protection Program (PPP) loans to support small businesses. We also need to work together to provide additional assistance to hospitals, health care centers, local governments and continue to do everything we can to support hard working Minnesotans.
Today, U.S. Rep. Angie Craig pushed Treasury Secretary Steven Mnuchin and Small Business Administration Administrator Jovita Carranza to improve the implementation of Paycheck Protection Program loans for community lenders, small businesses and nonprofits. After sending the letter, the Treasury has issued additional guidance to SBA lenders in the form of an interim final rule.
Today, U.S. Rep. Angie Craig supported the bipartisan coronavirus relief package providing relief to hard-working Minnesotans, small businesses and nonprofits while funding the needs of our health care professionals. Rep. Craig is now focused on getting the resources in the bill to the Second District as quickly as possible as well as pushing for funding for her cities and towns in future packages.
The CARES Act includes:
Today, U.S. Rep. Angie Craig introduced a bill that would provide interest free loans to small businesses dealing with the impacts of the coronavirus.