Policy Agenda

A Plan to Reinvigorate Main Street

Small businesses are suffering the biggest economic shock in a generation and need policy makers to understand their needs and prioritize helping Main Street rebuild. It was small businesses that led us out of the Great Recession by creating nearly two-thirds of new jobs and--with vision and commitment from our leaders--it is small business that will lead us to economic prosperity


Here are the issues and policies small business owners say policymakers must address to empower them to lead a strong economic recovery.

  • Create fair and equitable COVID-19 recovery plans that truly support Main Street
    • Policymakers should pass a law forgiving all Paycheck Protection Program (PPP) loans of $150,000 or less 
    • Policymakers should greatly simplify the PPP loan forgiveness process for small businesses that have loans of less than $2 million
    • Policymakers should create no-strings-attached recovery grants for small businesses with 20 or fewer employees, which comprise 89% of all small businesses in the country.
  • Correct market failures that have resulted in unbearably high healthcare costs and creation of affordable options for entrepreneurs and their employees
    • Policymakers should strengthen the Affordable Care Act (ACA) so self-employed entrepreneurs and consumers can better access quality affordable healthcare coverage despite employment status
    • Policymakers should strengthen the ACA insurance marketplaces to improve choice, optimize benefits, and create insurance portability
    • Policymakers should create a public option for healthcare coverage
    • Policymakers should consider new ideas to address the market failures and underlying drivers that are leading to increasing health care costs, including the rising prices of prescription drugs and the other issues that lead to market distortions (e.g. surprise billing).
  • Enact common-sense tax policies that put small businesses on a level playing field with large corporations and correct the failures of the 2017 Tax Cuts and Jobs Act
    • Policymakers should roll back the 40% corporate tax cut in the Tax Cuts & Jobs Act to fund policies that help small businesses. There is no reason tax cuts have to favor large corporations and the wealthy. Tax plans can and should be made to help small business owners. Helpful small business tax policies include: 
    • A tax credit for a small business owner hiring their first employee to stimulate business growth and job creation
    • Equalizing the tax savings rate created by the Tax Cuts and Jobs Act between small and large businesses and expand it to include entrepreneurs in all fields
    • Making the first $25,000 in profit for a small business tax free
    • Doubling the startup tax deduction for small business
    • Policymakers should simplify tax matters for small business owners. The tax code is far too complicated and real small businesses are at a disadvantage to corporations who can hire high-priced accountants to comply and find every advantage.
    • Policymakers should work to ensure tax equity for the self-employed
  • Enact policies that protect the integrity of American democracy and rebuild trust in democratic institutions
    • Policymakers should support efforts to ensure  comprehensive voting rights legislation that addresses voter registration and voting access, election integrity and security, redistricting, and campaign finance
    • Policymakers should work to reinstate the U.S. Department of Justice preclearance of changes in state voting laws to ensure that local authorities do not pass discriminatory restrictions on voting
    • Policymakers should support clear and streamlined practices for voter registration 
    • Policymakers should continue to support efforts to minimize gerrymandering 

  • Create a just and equitable economy that works for small business owners, their employees and their communities by creating and supporting programs and policies that promote the economic security of small businesses.
    • Policymakers should promote the economic security of small businesses by addressing universal small business problems that make them less competitive with big business. 
    • Policymakers should work to present policy solutions to make paid family and medical leave programs work for small businesses and their employees
    • Policymakers should implement Section 1071 of the 2010 Dodd-Frank Act requiring banks to report demographic data of their small business borrowers so we know who gets loans and help rein in predatory lending
    • Policymakers should pass truth-in-lending laws requiring disclosure of APRs, total loan costs and broker fees  
    • Policymakers should require the Small Business Administration to consider loan program set-asides for businesses with fewer than 20 employees
    • Policymakers should provide technical assistance funding for entrepreneur support organizations that connect underserved entrepreneurs with helpful people and tools
    • Policymakers should support the development of a system of portable benefits that follow workers as they move across jobs or out of the workforce to start a business
    • Policymakers should permit entrepreneurs to make “reach-back” contributions to their retirement accounts for a limited number of years, and have the tax deferral apply to the current tax year in which those payments are made 
    • Policymakers should expand the Earned Income Tax Credit and the Child Tax Credit 
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