WASHINGTON – U.S. Senators Mike Braun (R-IN) and Maggie Hassan (D-NH) introduced bipartisan legislation today to support entrepreneurship and help new businesses create jobs throughout the economic recovery from the COVID-19 pandemic.
The Recovery Startup Assistance Act provides payroll assistance to new small businesses started during the pandemic. Specifically, through 2021, the bill provides new small businesses with a tailored version of the Employee Retention Tax Credit – which helps businesses hire and retain employees by providing advance payments covering payroll and health care expenses. So far, many of these new businesses have been unable to access other COVID-19 relief programs.
“As a business owner, I understand the challenges of starting a business any time, let alone during a pandemic, and I am proud to introduce the Recovery Startup Assistance Act to helps small business owners who opened their shop up during the pandemic,” said Senator Braun. “This legislation will help new businesses hire and retain employees with payroll and healthcare expense assistance, which is a win for small business owners across the country.”
“It has been inspiring to see Granite Staters step up amid the COVID-19 pandemic to create job opportunities by opening new businesses,” said Senator Hassan. “They are helping their communities and customers in innovative ways, and so many of these businesses will be key to long-term economic recovery from this devastating pandemic. I am proud to lead efforts in Congress to get new businesses in New Hampshire and across the country the relief that they need to stay afloat and help power our economic recovery.”