My commitment to you

Dear Friend,

On Tuesday, I voted to pass stopgap legislation designed to quickly shore up the economic relief programs targeted for small businesses. This new legislation provides an additional $310 billion for the Paycheck Protection Program with $30 billion reserved specifically for community-based lenders, small banks, and credit unions and $30 billion for mid-sized banks and credit unions. It also expands small business support by including another $50 billion for the Small Business Administration's (SBA) Economic Injury Disaster Loans (EIDL), and $10 billion in SBA emergency disaster grants. 

It was clearly urgent to get more funds into programs that can serve as critical lifelines for small businesses that are really struggling right now. I have been disappointed and deeply frustrated with the shortcomings in the delivery of these programs by the Trump administration and will continue to hold them accountable. I hope the additional funding and key fixes to these programs in this legislation will allow the small businesses who need help--not just those who are well-connected--to finally receive it.

I want to thank everyone who joined me for a telephone forum last week to learn how to access new funding, including the Paycheck Protection Program and Economic Injury Disaster Loans. I convened a panel of experts to help answers questions and provide important information to hundreds of small business owners and nonprofit leaders from around our state.

>>You can listen to a full audio recording of the Small Business and Nonprofit Forum here.

I am committed to supporting New Mexico's small business owners and nonprofits throughout this crisis. Please don't hesitate to contact my office if I can help you and your business or organization. 

We still need to do so much more to invest in a broader public health response that's rooted in science, and a strong long-term economic recovery in the aftermath of the pandemic. The bill we passed yesterday will provide additional funding to our health care providers and set the foundation for a much larger, national testing infrastructure that is absolutely critical to restoring confidence and reopening our economy. Resuming normal life relies on making COVID-19 testing readily available in every single community in every corner of the country, and ensuring that data is accessible and transparent.

I am not done fighting for New Mexico's priorities as the negotiations continue between the Senate, the House of Representatives, and the White House on the next, larger piece of legislation to protect our health and restore our economy. I am committed to working with all of you in the days and months ahead to rebuild thriving businesses and local economies across our state.

Be well and stay healthy.

Sincerely,

MARTIN HEINRICH

United States Senator