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

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.

June 22, 2020 Press Release

VIRGINIA BEACH, VA --- Today, Congresswoman Elaine Luria announced her support for the PPP Data and Diversity Accountability Act of 2020 (H.R. 6861), which would require the Small Business Administration to collect and report on demographic data to show how many Paycheck Protection Program (PPP) applicants are minority, women, or veteran owned businesses.

May 28, 2020 Press Release

WASHINGTON, D.C. – Today, Congresswoman Elaine Luria voted for two bills she cosponsored to help small businesses and ensure transparency and accountability from the Small Business Administration’s loan programs. The Paycheck Protection Program Flexibility Act (H.R.

May 19, 2020 Press Release

VIRGINIA BEACH, VA – Today, Congresswoman Elaine Luria (VA-02) joined Congressman Rob Wittman (VA-01) for a tele-town hall with members of the Greater Williamsburg Business Council to hear directly from constituents regarding their concerns about the impact of the COVID-19 pandemic on local small businesses.

May 14, 2020 Press Release

VIRGINIA BEACH, VA – Congresswoman Elaine Luria is spearheading a bipartisan effort urging the U.S. Department of Agriculture (USDA) to support aquaculture growers and commercial fisheries in its recent $19 billion pandemic relief package. Fellow Virginia Representatives Bobby Scott (VA-03) and Rob Wittman (VA-01) joined this initiative. 

May 11, 2020 Press Release

VIRGINIA BEACH, VA – Today, Congresswoman Elaine Luria announced her support for legislation to permit tax credits for state and local governments to provide emergency paid sick leave and paid family leave during the public health emergency. The Supporting State and Local Leaders Act (H.R.

May 7, 2020 Press Release

VIRGINIA BEACH, VA – Congresswoman Luria joined Representative Schneider and over 100 of her Democratic colleagues in calling on the Small Business Administration (SBA) to more quickly and transparently process Economic Injury Disaster Loan (EIDL) grant applications and provide updates to small businesses who have applied for an EIDL.

April 23, 2020 Press Release

VIRGINIA BEACH, VA – In response to the economic fallout of the COVID-19 pandemic, Congresswoman Elaine Luria joined two bipartisan efforts urging the Department of Commerce to quickly implement relief for the fishery and aquaculture industries.  

April 22, 2020 Press Release

VIRGINIA BEACH, VA – Congresswoman Luria joined a bipartisan effort to replenish critical funding for the Paycheck Protection Program. The Paycheck Protection Program Extension Act (H.R. 6506) would provide up to $900 billion in funding for the Small Business Administration’s Paycheck Protection Program (PPP), allow businesses to automatically renew the terms of their PPP loan to get coverage for additional eight week periods, and defer repayment of any remaining loan balance for the duration of the pandemic.

March 18, 2020 Press Release

WASHINGTON, D.C.  – Today, Governor Ralph Northam requested an Economic Disaster Loan Declaration for the Commonwealth of Virginia. This comes a day after Congresswoman Luria sent a letter to the Governor urging him to submit this request. An Economic Disaster Loan Declaration would ensure impacted small businesses are eligible to receive emergency resources now available from the Coronavirus Preparedness and Response Supplemental Appropriations Act signed into law earlier this month.

December 19, 2019 Press Release

WASHINGTON – Today, Congresswoman Elaine Luria (VA-02) announced the House’s passage of the United States-Mexico-Canada Agreement (USMCA) Implementation Act.

December 17, 2019 Press Release

WASHINGTON – Congresswoman Elaine Luria (VA-02) voted for two Fiscal Year 2020 appropriations packages advancing key priorities for Coastal Virginia and national security interests.

December 12, 2019 Press Release
WASHINGTON – Today, Congresswoman Elaine Luria (VA-02) announced the House’s passage of H.R. 5038, Farm Workforce Modernization Act of 2019. This bipartisan bill will help Coastal Virginia’s agricultural industry by implementing reforms that aim to address scarcities in labor.
December 5, 2019 Press Release

WASHINGTON – Congresswoman Elaine Luria (VA-02) today voted for H.R. 2534, the Insider Trading Prohibition Act. This bill would establish an explicit ban of the practice of insider trading.

Insider trading is the inappropriate use of nonpublic information to influence decisions on buying or selling securities. This unethical practice allows insiders and those who wrongfully obtained nonpublic information to profit at the expense of average investors.

November 15, 2019 Press Release
WASHINGTON – Congresswoman Elaine Luria (VA-02) today voted to reauthorize for ten years the Export-Import (Ex-Im) Bank, which supports American workers by financing the export of American-made goods from companies nationwide, including small businesses.
July 25, 2019 Press Release

WASHINGTON – Congresswoman Elaine Luria (VA-02) today voted in support of a bipartisan budget agreement that would permanently end the threat of sequestration, protect the full faith and credit of the United States, and promote military readiness in Hampton Roads and beyond.

July 18, 2019 Press Release

WASHINGTON – Congresswoman Elaine Luria (VA-02) today voted for the Raise the Wage Act, keeping her promise to stand up for Coastal Virginia’s working families.

Sponsored and introduced by Congressman Bobby Scott (VA-03), the Raise the Wage Act (H.R. 582) would increase the federal minimum wage from $7.25 to $15 over a six-year period.  

May 1, 2019 Press Release
WASHINGTON – Congresswoman Elaine Luria (VA-02) today pushed the House Committee on Transportation and Infrastructure to consider projects important to Virginia’s Second Congressional District as the panel develops its legislative agenda.
March 27, 2019 Press Release

WASHINGTON – Congresswoman Elaine Luria (VA-02) today joined a majority of the House in voting to pass the Paycheck Fairness Act, a bill that promotes equity in America, closes unfair loopholes, and provides effective remedies for women who are not getting equal pay for equal work.

An original cosponsor of the Paycheck Fairness Act, Congresswoman Luria cheered the bill’s House passage and urged the Senate to follow suit.

March 14, 2019 Press Release

WASHINGTON – Congresswoman Elaine Luria (VA-02) today announced she is an original cosponsor of bipartisan legislation that would increase accountability and oversight over private contractor-provided housing for military families, which have suffered from serious health, safety, and environmental problems.