Assemblywoman Janet Nguyen joined bi-partisan efforts to bring relief to small businesses struggling during the COVID-19 pandemic. Senate Bill 74, also known as the “Keep California Working Act”, is aimed at helping our community’s small businesses that make up 97% of California businesses.
“Small businesses, their employees and their families are hurting and need relief now,” said Assemblywoman Janet Nguyen. “I can think of no better use of the State Budget surplus than to boost our local economies and keep businesses open. People want to get back to work so they can provide food, housing and basic needs for their family. This bill works to accomplish just that.”
COVID-19 has brought a halt to California’s economy as small business shutdowns began in March of 2020. Many businesses in various industries have had to re-open and shutdown numerous times depending on new restrictions and regulations released throughout the last 10 months, devastating their finances and leaving many without work. Recent data has indicated that close to one-third of small businesses will not survive beyond January of 2021 without additional funding.
“Small businesses play a major role in our economy, with businesses under 20 employees making up 90% of businesses. We need to prevent devastating, long-term effects on Orange County’s economy by providing small businesses with the support they need to get through this pandemic,” said Assemblywoman Nguyen.
A total of 37 California State Legislators are now supporting the act. The bill invests 10% of California’s projected windfall in grants for small businesses impacted by COVID-19.
View the current text for SB 74 HERE.
This article was released by the Office of Assemblywoman Janet Nguyen.