The Alliance for Strong Families and Communities and our network advocated relentlessly to ensure nonprofits were included in the Paycheck Protection Program (PPP), authorized by the CARES Act in recent weeks. Many of community-based organizations have already submitted applications with your banks and some have even gotten approval. However, the rushed implementation of this program has caused several frustrations for organizations working to apply.
The Alliance continues to investigate those concerns and lift them up in our advocacy work. We learned today that the Department of Treasury is planning to ask Congress for an additional $200 billion (on top of the $350 billion already appropriated) for this program. Senate Majority Leader Mitch McConnell said today that the Senate is likely to hold a vote on Thursday to provide additional money. Senate Small Business Committee Chairman Marco Rubio (R-Fla.) has also asked for this vote this week to increase funding. Previously, House Speaker Nancy Pelosi had called for an extension of the PPP and indicated strong support. The Alliance will be tracking this in the coming days. An additional injection of funds this week or next could help those who are currently awaiting approval on loans from their banks. In the meantime, we encourage those interested to continue talking to their lenders and submitting applications. From what we’ve been hearing from members, organizations working with local community banks are faring better than those awaiting approval from large corporate banks.
The Alliance also recognizes that the PPP doesn’t help organizations with at more than 500 employees. We’ve been advocating for their inclusion in a future PPP or by creating a special loan forgiveness program with similar terms for these larger organizations. Take action through the link below to continue advocacy efforts for this.
Support the Save Organizations that Serve America Act: Ensure Nonprofits are Protected in the Next Relief Package
As we gear up for the next financial relief package to be deliberated in Congress, it is important that we start advocating for our priorities now. On March 27, Reps. Seth Moulton (D-Mass.) and Brian Fitzpatrick (R-Pa.) introduced the Save Organizations that Serve (SOS) America Act, which proposes providing nonprofits on the front lines of this pandemic with $60 billion in financial support, eliminating the 500-employee cap on Small Business Administration loans and loan forgiveness for nonprofits, and improving the above-the-line universal charitable deduction by eliminating the cap and allowing taxpayers to claim deductions for 2019, 2020, and future taxes. This bill aims to provide all community-based human services organizations, regardless of size or funding level, with the resources they need to continuing paying staff and delivering vital services in the community.
We’ve made it easy for you to tell your members of Congress to cosponsor the SOS America Act today.
Complete Survey on Alliance Member Priorities for Next Financial Relief Package
Though we were able to include many key provisions in the CARES Act, which became law in late March, we know additional gaps exist. Congress is starting to consider another financial relief package and we would like your input on what the Alliance should be advocating for.
Complete the survey by Tuesday, April 7 at 10 p.m. CT.