Main Street America is urging Congress to support local main street programs in future stimulus legislation. The current economic crisis has hit main street businesses especially hard. According to a recent study of small businesses, 57% reported a decline in revenue of more than 75% since the onset of the crisis. Main Street America is advocating for Congress to include $100 million in upcoming stimulus legislation to sustain and expand the essential work of main street leaders. This includes:
$75 million for Main Street Coordinating programs. This will provide a federal match of $1 for every $1 invested by state and local governments in their Main Street program up to $1.5 million per state or locality.
$25 million for direct support to Main Street businesses. This would provide direct support to small businesses to assist them in transitioning operations to align with needs resulting from COVID-19, like online sales and social distancing guidelines.
Main Street programs have a proven track record for generating strong economic returns. In 2018, Main Street programs leveraged an average of $25.64 in public and private investment for every dollar spent on the program. Additionally, with over 1200 local programs and 44 coordinating programs, the Main Street network is an efficient, hyperlocal delivery system for recovery funds.
Learn more about Main Street America's request and fund out how you can help!
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