The National Waste & Recycling Association (NWRA) joined the America’s Recovery Fund Coalition, a group of over 100 organizations, on a letter that called upon congressional leaders and Treasury Secretary Steve Mnuchin to support a grant-based program to provide financial support to businesses.
“Existing programs like the Paycheck Protection Program (PPP) were a well-intentioned effort to help defray the impact of the COVID-19 economic crisis, but we must build upon the current options and address the overwhelming need for additional capital support to businesses,” NWRA President and CEO Darrell Smith says. “We call on Congress and the Trump administration to create a federal direct assistance fund to provide rapid liquidity to businesses affected by COVID-19.”
More than 30 million Americans have lost their jobs in a six-week period and unemployment could remain above 10 percent into the next year. According to NWRA, the proposed program would provide medium-term capital to businesses to reopen safely. It would also help businesses meet financial obligations, pay current employees and rehire former staff, the association says.
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