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Economy

As a former small business owner, I am committed to growing Coastal Virginia's business community and ensuring all American families and small businesses have the resources they need to thrive. Since taking office, I have toured dozens of local businesses in our district to hear directly from constituents about how Congress can cut through red tape, grow our regional economy, and create jobs. Throughout the COVID-19 pandemic, I have continued to support affected industries and small businesses by passing small business legislation and creating a Small Business Hotline.

Businesses are struggling, which is why on March 27, 2020, I voted for the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This bill created the Paycheck Protection Program (PPP) and provided the Small Business Administration $10 billion to distribute to small businesses and nonprofits in direct grant funding and almost $350 billion for low-interest loans. I also cosponsored H.R. 7010, the Paycheck Protection Program Flexibility Act, which allowed small businesses to spend PPP loan proceeds within 24 weeks instead of the original 8 weeks. These laws have helped small businesses stay afloat during this crisis and has ensured that workers in hard-hit industries will stay on their companies' payroll.

I've talked with many local seasonal small businesses, including restaurants, that certain requirements meant that federal loans would not be enough to recover losses from their peak season. In response, on April 23, I called for reforms to the PPP to give seasonal businesses more flexibility in choosing their loan base period. On April 28, the Department of Treasury issued a new rule for the PPP to assist seasonal businesses. I also became a cosponsor of H.R. 7197, the RESTAURANTS Act, which would create a $120 billion grant fund for restaurants and caterers to survive the pandemic.

As our economy recovers, we must ensure American workers have the skills needed to attain good-paying jobs. That is why I am working to support apprenticeship programs, career and technical education, and access to broadband so workers can have the skills they need to advance their careers. I am also fighting for the working women of our district by being an original cosponsor of the Paycheck Fairness Act. This bill will help ensure women get equal pay for equal work.

More on Economy

Rep. Luria’s Pay Raise for Disabled Veterans and Survivors Signed by President Biden, Becomes Law for Fourth Straight Year
October 11, 2022
Press Release
On Monday, President Joe Biden signed Rep. Elaine Luria’s (D-VA) bipartisan Veterans’ Compensation Cost of Living Adjustment (COLA) Act of 2022 into law to increase compensation and benefits for disabled veterans and their families.
Issues: Economy Veterans
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Rep. Luria Votes to Avoid Government Shutdown, Releases Statement on Passage of Another Continuing Resolution
September 30, 2022
Press Release
Today, Rep. Elaine Luria (D-VA) released the following statement after voting for a continuing resolution to fund the government through December 16, 2022:
Issues: Economy Infrastructure National Security
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Rep. Luria Votes to Lower Costs, Combat Climate Change and Tackle Inflation, Sends Inflation Reduction Act to President Biden’s Desk
August 12, 2022
Press Release

WASHINGTON, D.C.— Rep. Elaine Luria (D-VA) voted today to send the Inflation Reduction Act to the President’s desk and lower health care and prescription drug costs, combat climate change, tackle the root causes of inflation, and reduce the deficit. 

Issues: Economy Energy Environment Health Care
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Rep. Luria Secures $37 Billion in Increased Defense Spending, 8 Amendments in NDAA As Legislation Passes House
July 14, 2022
Press Release
WASHINGTON, D.C. – House Armed Services Committee (HASC) Vice Chair Rep. Elaine Luria (D-VA) secured $37 billion and eight amendments as the Fiscal Year 2023 National Defense Authorization Act (NDAA) passed the House of Representatives today. 
Issues: Economy National Security
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Rep. Luria Votes to Lower Food and Fuel Costs for Coastal Virginians, Working Families, and Small Businesses
June 16, 2022
Press Release
WASHINGTON, D.C. –  Today, Rep. Elaine Luria (D-VA), voted to advance the Lower Food and Fuel Costs Act to reduce gas prices and cut costs for Coastal Virginians. 

The legislation would authorize $200 million for the Secretary of Agriculture to expand the biofuel infrastructure and create a permanent waiver for the sale of E15 gasoline, a special blend of ethanol fuel that will lower costs for consumers. 
Issues: Economy
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