As small businesses across New York State try to manage the crushing impacts of the COVID-19 crisis, Assembly Majority on Wednesday rejected an effort to provide critical relief to job creators struggling to keep their doors open. Assembly Minority introduced the “Small Business Emergency Recovery Act to 2020” during state budget deliberations; however, the measure was voted down by Majority politicians.

“The Department of Labor is receiving one million calls a day from people seeking unemployment help. New York State is facing one of the biggest economic downturns in history,” Assembly Minority Leader Will Barclay said. “Businesses are closing. In this environment, it is unconscionable that Assembly Majority refused to provide assistance to employees and businesses on the brink of ruin.”

The Minority politician’s proposal was attached as an amendment to the state budget revenue bill (A.9509-B). The Small Business Emergency Recovery Act would:

• Immediately direct the state’s settlement reserve fund of $890 million to small businesses.
• Create a 0% interest loan program dedicated to helping small businesses meet their payroll commitments.
• Repurpose available tax credits to help the needs of the state’s existing small businesses.
• Use all economic development discretionary funding for existing small businesses within New York State.
• Move tax deadlines for remittance, business tax and personal income tax ahead 180 days.
• Suspend all regulatory fees on small businesses for 180 days.
• Suspend the plastic bag ban for grocery stores for 180 days.