More on Small Business
Many parts of the economy in our great state of Nebraska are thriving. However, the new slate of tax increase proposals coming from the Biden Administration will undermine the success of Nebraska, and states like it, by removing capital from family farms and small businesses at a time when we need to be encouraging economic growth.
Washington, D.C. – Representatives Adrian Smith (R-NE) and Michelle Fischbach (R-MN) today led more than 130 of their House of Representatives colleagues in sending a letter to Speaker Nancy Pelosi and Republican Leader Kevin McCarthy opposing the Biden Administration’s proposal to repeal stepped-up basis from the tax code and require payment of capital gains taxes at death.
Read the full letter here.
Getting Americans back to work has been one of the primary challenges facing our nation since the COVID-19 pandemic began nearly one year ago. While the employment situation varies widely from state to state, ensuring every unemployed American can reconnect with work must be a top priority. In Nebraska we are fortunate to have an unemployment rate of just 3%, making us one of 18 states that have an unemployment rate below 5%. Other states which have had more restrictive lockdowns are seeing much higher rates of unemployment.
Washington, D.C. – Congressman Adrian Smith (R-NE) today honored nine individuals and businesses for receiving the Innovation and Adaptation Recognition. The award was created to acknowledge the contribution of individuals, organizations, and those who are working every day to improve and help their communities in the current environment.
The winners will be recognized by Smith before the U.S. House of Representatives.
While votes are still being counted and recounted, there are other things we must focus on as well – like getting our economy back on track. Through the use of tools like Zoom, I am able to meet with Nebraskans about our economy without skipping a beat.
Small businesses are staples of our communities and the backbone of rural America. However, small businesses have also taken the hardest hit from COVID’s impact and we must continue doing all we can to help them as we continue to fight this disease. In order to hear from small businesses directly while providing the latest in innovative ideas, I will be hosting a series of Small Business & Community Roundtables on November 9, 10, 12, and 13, from 8:30 a.m. to 9:30 a.m. (CST) / 7:30 a.m. to 8:30 a.m. (MST).
While the COVID-19 pandemic continues its destructive pace, the devastating effects on the economy have come into clearer view. No business, small or large, is immune from the effects of the virus and the measures we are taking to counter it. Fortunately, Congress and President Trump have been hard at work to come up with solutions for keeping businesses and their employees afloat during this pandemic.
Washington, D.C. – Congressman Adrian Smith released the following statement after voting to pass the Paycheck Protection Program and Health Care Enhancement Act (H.R. 266) today. H.R. 266 replenishes funding for the Paycheck Protection Program (PPP), provides additional monetary assistance for health care providers and hospitals, and expands testing for COVID-19. PPP was created by the CARES Act to keep workers on payroll at businesses and nonprofits with fewer than 500 employees which have been impacted by social distancing guidelines.
In order to address COVID-19, Congress and President Trump have enacted three major pieces of legislation to fight this disease and help as many Americans as possible stay employed, with the goal of resuming our strong economy as soon as possible when this pandemic subsides. While agencies such as Treasury and the Small Business Administration (SBA) are working to roll out these programs as quickly as possible, I hope the information below will be helpful to you in this challenging time.
Just a few weeks ago, we were in the midst of the strongest economy in years. We now find ourselves with questions about what will happen to our economy due to the COVID-19 outbreak. In contrast with other times of economic uncertainty, this interruption in our economy was not caused by bad decisions or nefarious actors, nor were we nearing the end of a business cycle. It was caused by a viral pandemic: a natural disaster. Though it may be painful, American resolve will bring us through this crisis.