“Small businesses are the backbone of Nevada’s economy, and our recovery from the pandemic depends on their strength. During today’s listening session, I was glad to hear candid feedback from local business owners and industry leaders about the support they need to rebuild from the profound challenges of the pandemic,” said Congressman Steven Horsford. “Nearly nine months ago, we fought to pass the American Rescue Plan with $50 billion in funding to help small businesses keep their doors open and keep employees on payroll. Today, as we work to pass the Build Back Better Act with $5 billion in additional support, I’m glad that our business community is making their voices heard.”
“I appreciated hearing how small business owners and industry leaders in Las Vegas are utilizing resources and funding provided through the American Rescue Plan to keep their doors open as our economy recovers from the pandemic,” said Deputy Treasury Secretary Wally Adeyemo. “Small businesses in Las Vegas were hit hard during this crisis, and minority-owned small businesses were hit especially hard. That is why Treasury is working to ensure that critical relief funding is reaching the small businesses that need it and providing capital for investments to small businesses and entrepreneurs through the $10 billion State Small Business Credit Initiative program. This, along with the provisions included in the Bipartisan Infrastructure Bill and the Build Back Better Act, will generate strong investments in our communities.”
“As Nevada recovers from the pandemic, federal support for small businesses has played a key role in moving our economy forward,” said Sonny Vinuya, President of the Las Vegas Asian Chamber of Commerce. “Nevada’s small businesses are incredibly resilient, and additional federal support will help us rebuild stronger than before. Thank you Congressman Horsford and Deputy Secretary Adeyemo for taking the time to listen to Nevada’s entrepreneurs and business leaders.”
In March 2021, Congressman Horsford voted to pass the American Rescue Plan, which invested $50 billion to support small businesses that were struggling to keep their doors open as a result of the COVID-19 pandemic.
Earlier this month, Congressman Horsford voted to pass the Build Back Better Act, which builds on American Rescue Plan funding with $5 billion for small firms, including support for direct loans and venture capital funding, as well as support for cooperatives and worker-owned businesses. The bill also dedicates significant funding to support entrepreneurs in underrepresented and underserved communities. To learn more about the Build Back Better Act’s support for small businesses, click here