Skip to content
wolfgangherfurtner

wolfgangherfurtner

People Gotta See More

Primary Menu wolfgangherfurtner

wolfgangherfurtner

  • News Business
  • traffic finance
  • business markets
  • finance & accounting
  • Finance & Oportunity
  • business ideas
  • About Us
    • Advertise Here
    • Contact Us
    • Privacy Policy
    • Sitemap
  • Home
  • Senate Fails to Pass $48 Billion Small Business Covid Relief Act of 2022
  • Finance & Oportunity

Senate Fails to Pass $48 Billion Small Business Covid Relief Act of 2022

Thelma D. Griggs 21/05/2022 4:31 AM

Table of Contents

Toggle
  • Senate Fails to Pass Small Business COVID Relief Act
    • Why Did S-4008 Fail?

[ad_1]

The $48 billion Small Business Covid Relief Act of 2022 bill (S-4008) has failed in the Senate.

S-4008 would have provided $48 billion to restaurants, gyms, live venues, minor league sports teams, border businesses, exclave businesses and providers of transportation services.

Small business owners and leaders of small business organization expressed their disappointment.

“After hanging on for another year, hurting restaurants and bars throughout American, especially in rural communities, may not see any relief,” said Didier Trinh, policy and political impact director, Main Street Alliance. “The fate of these small businesses – including ones owned by women and people of color that were left behind – will be tied to those Senators who voted down their lifeline today.”

Trinh said that at least 180,000 applications for Restaurant Revitalization Funding are approved but pending due to lack of funding.



Senate Fails to Pass Small Business COVID Relief Act

S-2091 is the Restaurant Revitalization Fund Act, introduced in June 2021. It was sent to the Senate committee on Small Business and Entrepreneurship. S2091 became the main part of S4008, which asks for the RRF to be replenished and also included funding for the other small businesses.

S-4008 cosponsors Senator Benjamin Cardin (D-MD) and Roger Wicker (R-MS) introduced the bill April 5. It failed May 19 through a voting procedure called Vote for Cloture. Cardin chairs the Senate Small Business and Entrepreneurship committee.

If a bill doesn’t get the required 3/5s majority on a Vote for Cloture, the measure is provisionally dead. A cloture motion was filed to begin the process of bringing the S-4008 up for vote. In order to be approved for vote, the cloture motion vote must receive a positive 3/5s majority vote.

The vote was 52-43, with 60 votes needed to reach the 3/5s majority and 5 Senators not voting. Had the measure received 60 votes, further debate on the bill would have been limited to 30 hours and it would have been brought to vote.

In other words, a Vote for Cloture is similar to “testing the waters.” When the Vote for Cloture failed to achieve a majority, the Senators moved to the next agenda item.

Why Did S-4008 Fail?

Opponents said that the bill was not funded. About $5 Billion in already-appropriated Covid-19 relief funds were poised to be rescinded and used to fund part of the bill. But about $40 billion would have been added to the nation’s deficit.

The Proposed Spending Breakdown in S4008:

  • $2 billion – gyms
  • $1/2 billion – minor league sports teams
  • $10 million – border businesses (impacted by border closures)
  • $85 million – exclave businesses (located within 75 miles of the US/Canada border
  • $2 billion – providers of transportation services
  • $40 billion – restaurants

When S-4008 was introduced, the proposal was for nearly $68 billion. That was reduced to $48 billion. You can read the entire text of the bill here.

 

 

 

 

 

 

For the latest, follow us on Google News.


More in: Small Business Grants




[ad_2]

Source link

Post Navigation

Previous Benefits of Getting a Business Loan with a Credit Union – Business Tips & Advice
Next MoEngage Launches a New WhatsApp Business Integration for Enterprises | News

More Stories

Top Quality Forex Education Is Essential to Success
  • Finance & Oportunity

Top Quality Forex Education Is Essential to Success

Thelma D. Griggs 28/07/2024 7:26 PM 0
Analysis of Risks to a Project Developer in a Term Sheet Or a Power Purchase Agreement (PPA)
  • Finance & Oportunity

Analysis of Risks to a Project Developer in a Term Sheet Or a Power Purchase Agreement (PPA)

Thelma D. Griggs 27/07/2024 7:51 AM 0
Books on Business, Law and Finance
  • Finance & Oportunity

Books on Business, Law and Finance

Thelma D. Griggs 24/07/2024 4:46 AM 0
July 2025
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
28293031  
« Mar    

Archives

  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • November 2021
  • October 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • November 2020
  • November 2018
  • December 2016

Categories

  • Business
  • business ideas
  • business markets
  • Entertainment
  • finance & accounting
  • Finance & Oportunity
  • News Business
  • Property
  • Real Estate
  • traffic finance

Recent Posts

  • Fast Relief: Understanding Payday Loan Singapore Options
  • 6 Challenges to Achieving Financial Sustainability
  • Mayajaal Movie Review: A Thrilling Ride Through Mystery and Deception
  • Investment Insights: Why EBITDA Matters in UK Financial Analysis
  • 5 Ways to Track and Analyze Your Stock Portfolio Online

Fiverr

Fiverr Logo

Tags

5e Business Profit Ahron Levy Columbia Business School Att Business Login Business Consultant Certification Austin Business Insurance Cover Coronavirus Business Letter With Logo Example Business Located Easy Location Business Platform Stocks Business Positions Seattle Business Regulation Legal Services Daystarr For Business Dimagi Business Development Toolkit Do Business Schools Accept Entreprenuers Enironmentall Friendly Business Ideas Eric Early Republican Business Owner Essec Business School Dean Essential Business To Remain Open Example Small Business Fall Winter Business Hours Template Fdot Woman Owned Business Certification First Business Women United States First Com Business Fixing A Damaged Reputation Business Florida Business Enforcement Free Small Business Communication Tool Law School Business Entity Outlines Mapping A Business Location Medical Business Trends Economics Mix Business And Personal Money Mlm Nit Small Business Legally New Business Agency Sales Questions Patricia Saiki Women'S Business 1990 Safety Business Proposal Sample Business Plan Entrepreneur School Business Administration Positions S Corp Business Deductions Search Tx Business Llc Sentextsolutions Business Cards Signs For Business On Roads Skype For Business Recording Capacity Small Business Forums .Net Small Business Insurancr Tech Monkey Business Ttu Business Cards Template Turbotax Business Nys Forms
mintprism
tourmaxx

You may have missed

Fast Relief: Understanding Payday Loan Singapore Options
  • business ideas

Fast Relief: Understanding Payday Loan Singapore Options

Thelma D. Griggs 08/03/2025 12:30 AM
6 Challenges to Achieving Financial Sustainability
  • business ideas

6 Challenges to Achieving Financial Sustainability

Thelma D. Griggs 26/02/2025 12:58 AM
Mayajaal Movie Review: A Thrilling Ride Through Mystery and Deception
  • Entertainment

Mayajaal Movie Review: A Thrilling Ride Through Mystery and Deception

Thelma D. Griggs 21/02/2025 9:04 AM
Investment Insights: Why EBITDA Matters in UK Financial Analysis
  • business ideas

Investment Insights: Why EBITDA Matters in UK Financial Analysis

Thelma D. Griggs 03/02/2025 1:15 AM
5 Ways to Track and Analyze Your Stock Portfolio Online
  • business ideas

5 Ways to Track and Analyze Your Stock Portfolio Online

Thelma D. Griggs 17/01/2025 6:14 AM
wolfgangherfurtner.com | CoverNews by AF themes.

WhatsApp us