Press Release

Press Release - March 20, 2020

The Seattle Latino Metropolitan Chamber of Commerce (SLMCC), a member of the United States Hispanic Chamber of Commerce (USHCC), joins the national organization to call for emergency actions from Congress, corporations and banks to take steps to protect small businesses.

We urge congress to consider a $1 Trillion bipartisan solution to ensure an economic stimulus to address the needs of HBEs.

We urge Congress to support the following plan of action:

1.  Approve an economic stimulus for small businesses with fewer than 100 employees to address immediate cashflow concerns.

2.  Encourage the U.S. Senate to approve the Coronavirus Response Package which includes loans for small businesses and paid sick leave for employees who need it.

3.  Suspend the U.S. Payroll Tax through the end of 2020 so that funds can be redirected to sustain small business operations. These taxes add over 15% to the cost of employing the average employee and would provide American businesses the necessary breathing room and operating capital to prevent layoffs and bankruptcies.
4.  Give the U.S. Small Business Administration (SBA) the authority to streamline its disaster loan approval process for amounts under $350,000 in order to distribute emergency capital more rapidly. These loans should be used to pay fixed debts, payroll, accounts payable, and other expenses needing attention.

Download full SLMCC Announcement