NFIB: Five legislative principles help ensure Wisconsin small businesses have necessary resources for recovery

Madison (July 17, 2020) — As small businesses continue efforts to re-open and Congress and the Administration prepare the next phase of legislation, The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, issued a plan, “NFIB Legislative Principles for Phase Four Small Business Relief,” today. The Phase Four plan lays out five legislative principles to help ensure that America’s small businesses continue to have the resources they need to move forward during this recovery.

“We believe the adoption of public policies consistent with these principles is critically important to quickly and effectively restoring a strong small business economy in Wisconsin,” said Bill G. Smith, NFIB State Director in Wisconsin. “The PPP and other efforts by Congress and Wisconsin lawmakers have been helpful for many small business owners across the state, but more needs to be done. These four principles are what Wisconsin small business owners are asking for and need to stay open during this crisis.”

NFIB previously issued a 10-point plan in April as small businesses across the country faced unprecedented shutdowns due to the COVID-19 pandemic. Many of the elements included in that plan were incorporated into subsequent legislation.

The Phase Four plan NFIB issued today includes recommendations that will help our country’s smallest businesses, including expanding financial assistance, creating strong liability protections, reforming unemployment insurance, and streamlining relief:

  1. Financial Assistance: Target near-term and longer-term financial assistance programs for the smaller businesses with continuing financial needs.
  2. Liability Protections: Create strong liability protections that enable small businesses to reopen safely and smartly without the fear of devastating lawsuits.
  3. Tax Relief: Provide tax relief for small businesses so they can recover faster, keep and hire employees, and bolster their communities.
  4. Unemployment Insurance Reform: Reform unemployment insurance so small businesses can quickly fill open positions and get the economy growing again.
  5. Regulatory Relief: Streamline PPP forgiveness and protect small businesses from additional regulatory requirements or expanding existing mandates.

The plan can be found here.

NFIB continues to survey members throughout the COVID-19 pandemic and recovery. The latest findings can be found here.