The Salt Lake Chamber sent the following letter to Utah’s Federal Delegation outlining the current state of small business in Utah and request leaders to work towards a bipartisan stimulus deal to bridge the gap until vaccine’s distribution:
“While Utah’s economy remains on stronger footing than most of the nation, our small businesses and families still desperately need help—before the end of the year—to ensure they can weather the ongoing economic impacts caused by COVID-19 restrictions.
“Any relief bill will require bipartisan compromise to break through the current impasse. The release of a proposal from a bipartisan group of Senate and House members, as well as the revisions to the Senate GOP proposal, provide an opening to break the current stalemate. We urge you to:
Press for a bipartisan agreement that can pass this year.
Target relief for those business owners and employees hit hardest by the pandemic.
Ensure that PPP provision provides support for all non-profits.
Provide meaningful protections in liability provisions like those found in Senators Cornyn’s and McConnell’s Safe to Work Act.
“Without this relief, the financial and economic wellbeing of Utah families and small businesses will be jeopardized. According to recent Census Bureau polling of small businesses:
Roughly 1 in 5 adults in Utah expect their household income to decline in the next week.
More than 15,000 Utah workers face an immediate cutoff of CARES Act benefits on December 26th.
One fifth of Utah small businesses had reduced hours for their employees.
While many small businesses received aid through the Paycheck Protection Program, nearly 1 in 5 expect to need additional financial assistance in the next six months.
“Utah’s families and small businesses are, on average, faring better than those in other states. However, the ripple effects of continued economic harm will only further damage our economic resilience. And Utah’s economy, however strong, is still inextricably tied to the national economy. Your efforts to pass a pandemic relief bill before year’s end will fortify countless Utah families and small businesses, keeping us on the trajectory to recovery from the pandemic-induced recession.”