Economy

As a former small business owner, I am committed to growing Coastal Virginia’s business community and ensuring all American families and small businesses have the resources they need to thrive. Since taking office, I have toured dozens of local businesses in our district to hear directly from constituents about how Congress can cut through red tape, grow our regional economy, and create jobs. Throughout the COVID-19 pandemic, I have continued to support affected industries and small businesses by passing small business legislation and creating a Small Business Hotline.

Businesses are struggling, which is why on March 27, 2020, I voted for the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This bill created the Paycheck Protection Program (PPP) and provided the Small Business Administration $10 billion to distribute to small businesses and nonprofits in direct grant funding and almost $350 billion for low-interest loans. I also cosponsored H.R. 7010, the Paycheck Protection Program Flexibility Act, which allowed small businesses to spend PPP loan proceeds within 24 weeks instead of the original 8 weeks. These laws have helped small businesses stay afloat during this crisis and has ensured that workers in hard-hit industries will stay on their companies’ payroll.

I’ve talked with many local seasonal small businesses, including restaurants, that certain requirements meant that federal loans would not be enough to recover losses from their peak season. In response, on April 23, I called for reforms to the PPP to give seasonal businesses more flexibility in choosing their loan base period. On April 28, the Department of Treasury issued a new rule for the PPP to assist seasonal businesses. I also became a cosponsor of H.R. 7197, the RESTAURANTS Act, which would create a $120 billion grant fund for restaurants and caterers to survive the pandemic.  

As our economy recovers, we must ensure American workers have the skills needed to attain good-paying jobs. That is why I am working to support apprenticeship programscareer and technical education, and access to broadband so workers can have the skills they need to advance their careers. I am also fighting for the working women of our district by being an original cosponsor of the Paycheck Fairness Act. This bill will help ensure women get equal pay for equal work.

 

More on Economy

December 30, 2020 Press Release

WASHINGTON, D.C. – Today, Congresswoman Elaine Luria highlighted several small business wins within the Consolidated Appropriations Act, 2021 and Emergency Coronavirus Relief package, which the President recently signed into law. 

November 20, 2020 Press Release

WASHINGTON, D.C. – This week, Congresswoman Luria voted for the National Apprenticeship Act of 2020 (H.R. 8294), which would create nearly one million new Registered Apprenticeship, youth apprenticeship, and pre-apprenticeship positions over the next five years.

September 14, 2020 Press Release

WASHINGTON, D.C. – Today, Congresswoman Elaine Luria released a letter she sent to Congressional leadership urging them to include robust funding for the aquaculture and seafood industries in upcoming COVID-19 relief legislation.

August 31, 2020 Press Release

WASHINGTON, D.C. – Today, Congresswoman Elaine Luria joined Congressman Andy Kim (NJ-03) in sending a bipartisan letter urging House Leadership to allocate appropriate funding for workforce training programs that bolster coastal resiliency.

August 29, 2020 Press Release

VIRGINIA BEACH, VA— Today, Congresswoman Luria announced her support of the Small Business PPE Tax Credit Act. This bipartisan bill will provide tax credits of up to $25,000 for small businesses to purchase personal protective equipment, such as gloves and face coverings for their employees.

July 22, 2020 Press Release

WASHINGTON, D.C. – Last night, Congresswoman Luria joined Delegate Fowler, Joni Marshall with the Virginia Department of Small Business and Supplier Diversity, and Kim Brewer from the Virginia Department of General Services at a tele-town hall to discuss economic relief programs available to small businesses during the COVID-19 pandemic.

July 20, 2020 Press Release

WASHINGTON, DC— Congresswoman Luria joined several of her House colleagues in a letter to Department of Treasury Secretary Mnuchin expressing constituents’ concerns regarding the Economic Impact Payments (EIPs) delivered in the form of a prepaid debit card. The Bureau of Fiscal Service announced that they would issue roughly 4 million EIPs through prepaid debit cards rather than traditional paper checks.

July 14, 2020 Press Release

VIRGINIA BEACH, VA – Today, Congresswoman Elaine Luria announced the Paycheck Protection Program (PPP) provided financial assistance to 10,969 local businesses, helping retain 69,858 jobs in Hampton Roads. This comes after the Small Business Administration (SBA) released data on the PPP’s impact in Coastal Virginia.

June 23, 2020 Press Release

VIRGINIA BEACH, VA – Congresswoman Elaine Luria received the U.S. Chamber of Commerce’s “Spirit of Enterprise” award her support of pro-business legislation and commitment to the bipartisan leadership and constructive governing necessary to move our country forward. Congresswoman Luria was one of less than three dozen Democrats to win this award.