The National Waste and Recycling Association urges Congress to increase funding for the Small Business Administration’s (SBA) lending program to $50 billion in order to fully President Donald Trump’s plan to help small businesses during the COVID-19 pandemic.
In an address to the nation last evening, President Trump announced the latest measures the United States is taking in response to the pandemic. The president said he would instruct the SBA to make $50 billion in low-interest loans available to businesses in areas affected by the COVID-19 pandemic and asked for Congress to approve funding for it. In addition, the President has instructed the Treasury Department to defer tax payments for up to three months without interest or penalties for certain individuals and small and mid-sized businesses negatively impacted.
“We thank President Trump for taking these steps to support our small businesses. We join the President in urging Congress to make these funds available as quickly as possible,” said NWRA President and CEO Darrell Smith.