Background: The economy went into a recession in February as the coronavirus began to spread and led to lockdowns across the country. In Colorado, more than 500,000 people have filed for unemployment and the state is facing billions in lost revenue.
Wants to protect small businesses
A: Hickenlooper supports four different actions to protect small businesses that are struggling right now due to the COVID-19 pandemic. He wants to boost the Small Business Administration’s capacity for loan forgiveness and tap the Community Reinvestment Fund to address small business liquidity. He also believes Congress should consider specific funding and benefits for small businesses including the use of technology, information and infrastructure. He also is pushing for the creation of capital pools and the development of financial products that will continue to benefit small businesses once the crisis has passed or if another may arise.
Consumers need more protections
A: He is focused on pocketbook issues and backs an immediate freeze on evictions nationwide, as well as efforts to block foreclosures and utility shutoffs. He supports a suspension for student loan payments and additional financial support for families and small businesses. Other efforts that are needed, he says, include paid family, sick and medical leave, and food and housing assistance.