COVID-19 BUSINESS AND EMPLOYEE CONTINUITY AND RECOVERY FUND
Hylant is in support of the proposed COVID-19 Business and Employee Continuity and Recovery Fund (the “Recovery Fund”) that would create a streamlined and tailored federal fund to provide rapid liquidity to small businesses and commercial sectors impaired by COVID-19. The requested relief is targeted to help businesses retain and rehire employees, maintain worker benefits, and resume or continue economic activity. The fund includes strong anti-abuse provisions, including audits and a Special Inspector General oversight, and would be leveraged through private sector servicers.
We urge you to support the Recovery Fund and have prepared a sample letter you can use to share your backing with members of Congress. Not sure of your congressional district or who your member is? Refer to house.gov to search by zip code. You can also email your communication directly to your Senators on America’s Recovery Fund Coalition website: https://americasrecoveryfund.org/
Purpose
- Protect lost wages for employees unable to work because of COVID-19 illness
- Preserve jobs through payroll assistance to help businesses retain and rehire employees
- Maintain economic activity by keeping businesses solvent and at least partly open
- Support women-owned and minority-owned businesses impacted by COVID-19
Program Administration
- Establish within Treasury an expedited and streamlined relief program run by a special federal administrator
- Authorize the program to contract with third parties that agree to assist with application filing and review
- Fund the program through advanced authorization of appropriations and the creation of an obligation of the federal government