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Recovery Fund Legislation (July 20, 2020)

Monday, July 20, 2020

Dear ICSC Members, 

I am very pleased to announce that bipartisan Recovery Fund legislation, tentatively called the Small Business Comeback Act, has been introduced today by Congressmen Filemon Vela (D‑TX) and Lance Gooden (R‑TX).

Although titled the Small Business Comeback Act, the legislation is applicable to businesses of all sizes and industries and provides up to $50M in grants to those businesses that can demonstrate COVID‑19 impairment as defined in the legislation. It is designed to provide the continuity of cash flow needed to help businesses retain and rehire employees, pay rent and other debt obligations, and help normalize and stabilize operations to sustain an economic recovery. This is a significant step as this Act will now be part of the negotiation process as Congress deliberates on the next COVID‑19 relief legislation.

As you know, the establishment of a broad-based Recovery Fund has been ICSC's top legislative priority and we have led the America's Recovery Fund Coalition of over 100 business organizations. We have been actively engaged with Congressmen Vela and Gooden as they developed this proposed legislation, and we will continue to fight for federal relief on behalf of the industry.

Our story is even stronger with your support. As Congress deliberates this next round of COVID‑19 legislation, we need your support. Take action now to email your Representative and ask him or her to cosponsor the Small Business Comeback Act. Additionally, if your tenants are willing to share personal stories to show Congress how their businesses are depending on support from the government, please contact gpp@icsc.com.

Thank you for your membership and support.

Sincerely,

Tom McGee
President & CEO 
ICSC