HR 7671
Small Business Comeback Act
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The Small Business Comeback Act establishes a program to provide financial recovery compensation to small businesses impacted by the COVID-19 pandemic. The Department of the Treasury will oversee this program, appointing a Special Administrator to manage applications and payments. Eligible businesses must operate in an impaired sector, have significant U.S. operations, and continue to pay employee wages. Recovery compensation can cover payroll, benefits, loan repayments, and taxes, and the bill also creates oversight bodies to ensure accountability and transparency in the distribution of funds.
Sponsors
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Primary sponsor
Filemon Vela
Cosponsors
Grace F. Napolitano
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