Cortez Masto Introduces Bill Package to Support Small Businesses

Washington, D.C. - Today, U.S. Senator Catherine Cortez Masto (D-Nev.) introduced a package of legislation that would support small businesses across the United States and help them access funding from the Small Business Administration (SBA). The Senator is introducing this package of legislation during National Small Business Month.

"Nevada's small businesses are the heartbeat of our communities - we must do everything we can to support them," said Senator Cortez Masto. "That's why I'm introducing this package of bills this National Small Business Month. Passing these bills would enable the Small Business Administration to better fulfill its mission, whether it's helping a small two-person tax preparation shop or the ice cream stand that was affected by wildfire smoke."

Senator Cortez Masto, alongside Senator Angela Alsobrooks (D-Md.), is introducing the Microbusiness Support Act, which would allow the SBA to issue loans of up to $100,000 to microbusinesses. Many traditional lenders do not make such small loans, leaving a gap in financing for microbusinesses. Microbusinesses are small or family-owned businesses focused on operating within their communities, often with just a few or no employees. Nevada has nearly 300,000 microbusinesses operating across the state. Read the bill here.

Cortez Masto is also introducing the Small Business Wildfire Smoke Recovery Act to allow wildfire smoke to count as an eligible disaster for small business disaster loans. Intense wildfire smoke often impacts Nevada during the summer months, and air quality routinely reaches dangerous levels that keep families and tourists inside. Businesses that rely on outdoor activity - like restaurants that rely on foot traffic or outdoor dining, waterparks, and outdoor malls - would now be eligible for federal support until they've recovered. Read the bill here.

Senator Cortez Masto is a champion for Nevada's small businesses. Last year, the Senator introduced bipartisan legislation to ensure America's small businesses can compete in the 21^st Century economy and bipartisan legislation to make it easier for the SEC to collect information on small businesses. Additionally, Cortez Masto introduced a bipartisan bill to require the SBA to provide annual awards to state and local governments that streamline the process of small business formation. In Nevada and in Washington, she has hosted roundtables to speak with small business owners about the squeeze they are feeling from Trump's economic policies.

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