Press Releases

WASHINGTON – U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA) announced $4,520,475 in federal funding from the National Oceanic and Atmospheric Administration (NOAA) to support coastal and marine fishery participants who have been negatively affected by the novel coronavirus (COVID-19) crisis. The federal funding was made possible by Section 12005 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act supported by Sens. Warner and Kaine.

“The COVID-19 pandemic has affected nearly every sector of our economy including fisheries and our seafood industry, which is already particularly susceptible to the forces of nature that determine when produce is ready for harvest,” said the Senators. “We’re glad to know that these funds will help provide some needed relief to help Virginia’s seafood industry withstand this crisis.”

Section 12005 of the CARES Act authorizes the Secretary of Commerce to provide $300 million in appropriated funds to assist fishery participants affected by the COVID-19. Specifically, these funds will help address direct or indirect fishery-related losses as well as subsistence, cultural, or ceremonial impacts related to COVID-19.

Fishery participants eligible for funding – including tribes, commercial fishing businesses, charter/for-hire fishing businesses, qualified aquaculture operations, processors, and other fishery-related businesses – will be able to work with their state marine fisheries management agencies, territories, or tribes to apply for these funds.

Sens. Warner and Kaine have long advocated for Virginia’s seafood industry – a community largely made up of rural, family-owned operations. Earlier this week, the Senators joined their colleagues in sending a letter to Senate leaders asking them to make sure urgently needed federal assistance is delivered to America’s fishermen and seafood processors who have been affected by this crisis. Additionally, in February, the Senators urged the U.S. Department of Homeland Security (DHS) to release additional H-2B visas needed to support local seafood businesses in Virginia and states like Alaska, Maryland, and North Carolina.

###

WASHINGTON – Today, U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA) urged Senate leaders to ensure that nonprofit organizations like regional chambers of commerce, state restaurant associations, and groups representing law enforcement are able to receive the financial relief they need during the novel coronavirus (COVID-19) crisis. In a letter, the Senators asked Senate leaders and leaders on the Committee on Small Business and Entrepreneurship to expand eligibility for the Paycheck Protection Program (PPP), which currently excludes worthy non-profits that are listed under section 501(c)(6) of the Internal Revenue Code.

“We’ve heard from many 501(c)(6)s that have been impacted by COVID-19 and are concerned that they will be unable to carry out their missions,” wrote the Senators. “Many 501(c)(6)s are struggling because of significant declines or uncertainty in their membership dues resulting from COVID-19, and many have had to cancel major events that they rely on for funding.

They continued, “Throughout this pandemic, Congress has recognized that a whole of society effort is needed to combat COVID-19 and to mitigate its devastating economic impacts. Local chambers, for example, have been valuable partners in helping small business owners get up-to-date information about the assistance programs passed under the CARES Act. Law enforcement associations here in Virginia have provided vital information and training for their members related to COVID-19 as they keep our fellow citizens safe. Education associations have supported teachers and school leaders with webinars and other professional development resources as they abruptly transitioned to serving students through remote instruction.”

Virginia’s significant number of 501(c)(6) organizations include regional chambers of commerce, tourism and hospitality associations, medical associations, certified public accountant societies, state legal societies, state restaurant associations, groups representing law enforcement, among many others. According to some estimates, the Commonwealth has the third highest number of 501(c)(6) employees across the nation.

In their letter, the Senators also highlighted the essential role that many of these organizations are fulfilling during this challenging crisis. Specifically, the Senators requested that this PPP expansion be eligible for 501(c)(6) organizations that do not engage in substantial federal campaign or lobbying activities and can demonstrate economic hardship.

Text of the letter is available here or below.

Dear Majority Leader McConnell, Minority Leader Schumer, Chairman Rubio, and Ranking Member Cardin:

With your leadership, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act (P.L. 116-136) to create the Paycheck Protection Program (PPP), a powerful program to support small businesses and some non-profits as they deal with the impacts of the COVID-19 pandemic. However, we have concerns that PPP’s eligibility criteria have shut out some worthy non-profits that are listed under section 501(c)(6) of the Internal Revenue Code.

We’ve heard from many 501(c)(6)s that have been impacted by COVID-19 and are concerned that they will be unable to carry out their missions. Many 501(c)(6)s are struggling because of significant declines or uncertainty in their membership dues resulting from COVID-19, and many have had to cancel major events that they rely on for funding. We’re hopeful that as you consider modifications to the PPP, you will expand the program to include 501(c)(6) non-profits that do not engage in substantial federal campaign or lobbying activities and can demonstrate economic hardship.

501(c)(6) organizations include regional chambers of commerce, tourism and hospitality associations, medical associations, certified public accountant societies, state legal societies, state restaurant associations, groups representing law enforcement, among many others. Many of these 501(c)(6) organizations are filling an essential role on the front lines of our nation’s COVID-19 response, providing their members with services and guidance necessary to help them through this challenging time.

The Commonwealth of Virginia has a significant number of 501(c)(6) organizations and Virginians employed by them. According to some estimates, Virginia has the third most 501(c)(6) employees in the country. We’re proud of the work these Virginians do to support their communities and local businesses and do not believe they should be excluded from the PPP, which might be the deciding factor in whether their organization can keep its doors open.

Throughout this pandemic, Congress has recognized that a whole of society effort is needed to combat COVID-19 and to mitigate its devastating economic impacts. Local chambers, for example, have been valuable partners in helping small business owners get up-to-date information about the assistance programs passed under the CARES Act. Law enforcement associations here in Virginia have provided vital information and training for their members related to COVID-19 as they keep our fellow citizens safe. Education associations have supported teachers and school leaders with webinars and other professional development resources as they abruptly transitioned to serving students through remote instruction.

Thank you for taking this important consideration into account as you work to help our economy and communities cope with the economic impacts of COVID-19. We look forward to continuing our work together as we pursue bipartisan approaches to managing and overcoming this crisis.

###

WASHINGTON – U.S. Sens. Mark R. Warner (D-VA), Bernie Sanders (I-VT), Doug Jones (D-AL) and Richard Blumenthal (D-CT) today released a proposal to establish a ‘Paycheck Security’ program to cover the wages and benefits of employees of affected businesses and non-profits until the economic and public health crisis is resolved.

“The health and economic crisis brought on by COVID-19 is unprecedented in American history. More than 22 million people have already filed unemployment claims, and projections suggest that the unemployment rate could top that of the Great Depression by this summer if Congress does not do more to help businesses and workers stay afloat,”said Sen. Warner. “While Congress quickly took some steps with the PPP program and expanding access to disaster relief loans, these early lifelines will not be enough on their own to prevent more job losses and alleviate the economic uncertainty. It will be much less costly to our economy and our country in the long run if we can offer direct grants to businesses facing heavy losses so that they can keep workers on payroll and benefits through the next several months of this crisis. Otherwise, we could see millions more businesses go bankrupt, leave millions more Americans out of work, and make it that much harder to get our economy going again once we get through this public health emergency.”

“With 22 million Americans filing for unemployment and up to 35 million expected to become uninsured, we are the only wealthy nation on Earth where our people are losing jobs and health care at precisely the moment that they need them the most,” said Sen. Sanders. “This is a man-made crisis. Our job now is to join the rest of the industrialized world and pass the Paycheck Security Act. This is not a partisan issue: People across the political spectrum agree that Congress has got to build upon previous legislation to keep people on their employers’ payrolls and fully restore the wages and benefits of every rank-and-file worker in America during this pandemic.”

“While we’re taking drastic steps to ensure the health and safety of the American people, we must also keep our hard-hit small businesses and their employees financially secure,” Sen. Jones said. “The Paycheck Security Act will put existing infrastructure to work to help companies maintain payroll while cutting the red tape that’s slowing down relief to the American workers who need it most. Folks on both sides of the aisle agree we have to do more at the federal level to help small businesses and their employees, especially as it appears we’ll have a slow, staggered process to get folks back to work. This proposal is a creative solution that we can be implemented quickly to help businesses and workers in Alabama and across the country.”

“Instead of allowing businesses to go into free fall and trying to pick up the pieces later, we’re proposing a guardrail at the edge of the precipice. Our plan gives workers the steady comfort of a consistent paycheck from an employer they can go back to when the crisis abates. And we’re offering business the ability to hold onto those workers, so they can start up again as easily as possible. If we fail to take aggressive relief measures now, we’ll kneecap our future recovery,” said Sen. Blumenthal.

Under the terms of the Senators’ paycheck security proposal:

All employers who have suffered a month-over-month drop in revenues of at least 20 percent will be eligible to receive grants covering a portion of payroll and benefits for at least the next six months.

Grants will cover salaries and wages up to $90,000 for each furloughed or laid off employee, plus benefits, as well as up to an additional 20 percent of revenues to cover fixed operating costs such as rent, utilities, insurance policies, and maintenance.

Employers and non-profits of all sizes will be eligible if they can verify revenue losses and don’t otherwise have more than 18 months of their payroll available in cash.

Businesses that have received a Paycheck Protection Program loan or an Economic Injury Disaster Loan, or have otherwise accessed the Federal Reserve 13(3) facilities, will be ineligible, unless they exhaust these other programs or use the Payroll Security Program grant to pay back their existing loans.

The Senators released an extensive white paper detailing eligibility, verification, and other contours of their proposal, which is available here.

“We are headed toward catastrophic levels of unemployment–20% or higher–and we must act to ensure that millions more workers are paid for as long as this crisis endures by making support for employers who keep workers on payroll simpler, faster and more universal. The Paycheck Security Act does just that,” said Richard L. Trumka, President, AFL-CIO.

“The Paycheck Security Act is a bold program of grants, not loans, appropriately scaled to meet the massive challenge facing workers and firms. Equally important, it’s designed to be quickly and efficiently executed,” said Jared Bernstein, Center on Budget and Policy Priorities.

“The Paycheck Security proposal is the right solution at the right time. It supports workers, keeps businesses afloat, and plays an oversized told in saving the American economy,” said John Bridgeland, former Director of the White House Domestic Policy for George W. Bush. “These Senators recognize that Congress should be supporting employment, not massive unemployment. We need this smart proposal to be enacted now.

“The most important thing we can do for workers and our economy is keep as many people as possible connected to their jobs, paychecks and healthcare. The best way to do that is to make it easy for employers to keep payroll running--regardless of whether workers are coming in--and at the same time to rein in the worst corporate behavior. That's what we did for aviation workers in the CARES Act, and it's what the Paycheck Security Act would accomplish for tens of millions more workers,” said Sara Nelson, the International President of the Association of Flight Attendants-CWA, AFL-CIO.

“To prevent another Great Depression, the government must protect workers and businesses while the coronavirus crisis rages. The Paycheck Security Act provides bold and much-needed support to our communities, allowing workers to remain on payroll and covered by their health insurance. It will save millions of jobs and put the United States on track for a faster recovery,” said Gabriel Zucman, Professor of Economics, University of California Berkeley.

“Workers and their families are paying the price for going into the current crisis with a weak social insurance system and public safety net. Given this pre-existing weakness, transformative responses to this economic crisis have to be put together on the fly, and the Paycheck Security Act is a bold solution to provide needed relief during the lockdown period of the crisis and would put us in much better position to mount a rapid recovery once the public health all-clear was sounded,” said Josh Bivens, Director of Research, Economic Policy Institute.

“The Paycheck Security Act addresses the issue we face head on: government keeps businesses alive and workers paid and safe while our economy is in hibernation. It will save tens of millions of jobs and millions of businesses from destruction. Our people and economy will be able spring back to work as soon as it is safe to do so,” said Emmanuel Saez, Professor of Economics, University of California Berkeley.

“We're thrilled the Senators are seeking long-term grant assistance for businesses harmed by COVID-19 in his proposal for the Paycheck Security Program,” said John Arensmeyer, CEO of Small Business Majority. “This will provide a much more streamlined process that will allow businesses to continue to operate and keep people employed, and it will help the most vulnerable small businesses that have been left behind by the inefficient and underfunded Paycheck Protection Program (PPP). The Senators’ proposal addresses the needs of businesses and their employees now and throughout the rest of this crisis, reducing the need to keep going back to Congress for band-aid fixes.”

"The Senators visionary Paycheck Security proposal is exactly the solution we need. It will save the American Economy and protect tens of millions of Americans from the fear of never ending unemployment, the loss of their livelihood and the sense of purpose that comes through having a job," said Alan Khazei, City Year Co-Founder. "Congress and the Administration should enact Paycheck Security now. It will avoid another Great Depression and enable the engine of the American economy to restart as soon as the health crisis lifts. If we don't do this, millions of small businesses will close permanently, tens of millions of people will suffer needlessly and the character of America and our Main Street communities will never be the same."

###

WASHINGTON – U.S. Sen. Mark R. Warner (D-VA) issued a statement today, after joining a congressional task force advising the President on response to the coronavirus and economic recovery:

“My highest priority on this task force will be to ensure the federal government’s efforts to reopen our economy are bipartisan, data-driven, and based on the expertise of public health professionals.

“Millions of Americans have lost their jobs and their livelihoods as a result of this crisis. Unfortunately, a rushed, haphazard reopening risks not only further lives lost but also further damage to our economy. For the sake of both our economy and the safety of our loved ones, we need to do everything we can to stamp out this disease and give Americans confidence that it is truly safe to begin returning to normal. Experts agree that, at a minimum, a robust testing regime must be in place before we are able to lift most of the difficult, but effective, social distancing measures intended to ‘flatten the curve.’ As we consider next steps in responding to the coronavirus pandemic, input from Governors and other local officials will be absolutely essential.”

###

WASHINGTON – U.S. Sen. Mark R. Warner (D-VA) released the following statement after voting in favor of a $2 trillion bipartisan package to provide financial relief to businesses and families as well as hospitals and local governments during the novel coronavirus (COVID-19) pandemic:

“This is not the first step Congress has taken to deal with the COVID-19 pandemic, nor will it be the last. This bill provides significant financial relief to our families and businesses struggling with the effects of widespread closures and other public health measures. It greatly expands access to unemployment benefits – including, for the first time, gig workers, contractors and the self-employed – and includes tax credits and other incentives I negotiated with the Trump Administration to help small businesses keep workers on payroll and keep them from going out of business during this crisis. This bipartisan bill also includes a massive infusion of resources for hospitals, frontline caregivers, and states and localities dealing with the brunt of COVID-19. I strongly urge the House of Representatives to pass this bill without delay, so that we can get this urgently-required relief to those who so badly need it.

“This is a challenge unlike any we have faced in recent memory, but I believe that we as a country can and will get through this together. I will remain in close touch with state, local and health officials to ensure that we are doing everything possible to provide the resources needed to fight the coronavirus.”

Previously, the President signed a bipartisan $8.3 billion emergency funding bill that directed needed resources to federal, state and local agencies responding to coronavirus. This legislation immediately provided Virginia with $13.3 million in federal funding to help cover the costs of preparations for this public health emergency. It also included language based on Sen. Warner’s CONNECT for Health Act of 2019, which reduces restrictions on the use of telehealth for public health emergency response, as well as $500 million to facilitate its implementation.

On March 18, the President signed a second bipartisan coronavirus response bill that focused on the immediate economic impact of the coronavirus. This legislation expanded paid sick leave to many Americans, cut restrictions on unemployment insurance for workers who have lost their jobs or had their hours cut, and guaranteed freed coronavirus testing. It also included significant emergency funding for Medicaid, nutrition assistance, state unemployment programs, and coronavirus testing at Department of Veterans Affairs medical centers.

Today’s legislation provides for $1,200 in direct payments to most Americans, and includes billions of dollars in lending and grant programs designed to help businesses, workers and municipalities survive this crisis, along with strong transparency and accountability measures to make sure that federal funding doesn’t go towards stock buybacks or bonuses for corporate executives. Today’s bipartisan bill also provides for $150 billion for hospitals and other public health infrastructure, part of an unprecedented investment that Sen. Warner and other Democrats fought to include as our frontline responders struggle under the weight of the coronavirus pandemic. It also includes an important change to existing tax policy allowing employers, for the first time, to use pre-tax dollars to help pay down employees’ student debt – provision modeled after Sen. Warner’s bipartisan Employer Participation in Repayment Act.

A more comprehensive list of Sen. Warner’s work to protect Americans amid the coronavirus outbreak is available here.

###

WASHINGTON – Today, following passage of a bipartisan coronavirus economic relief package (H.R. 6201, the Families First Coronavirus Response Act), U.S. Sen. Mark R. Warner (D-VA), a former Governor of Virginia, led a letter signed by Sens. Cory Booker (D-NJ), Michael Bennet (D-CO), Ron Wyden (D-OR) and Gary Peters (D-MI), urging state governors and workforce administrators to implement its provisions easing restrictions on emergency unemployment benefits.

In a letter sent to the governors and heads of state workforce agencies for all 50 states, the Senators wrote, “Given the unique nature of the pandemic we are facing, we encourage you to take advantage of recently enacted federal legislation that increases resources for states to deliver timely unemployment insurance benefits to affected workers. The legislation should make it easier for workers to access unemployment benefits by waiving waiting weeks and work search requirements, as well as experience ratings for employers. Given these unavoidable circumstances, employers should not be penalized for encouraging their workers to receive unemployment compensation and workers should be able to access compensation immediately, particularly when other work opportunities may not be available.”

The Senators continued, “We are also especially concerned about the hardships facing workers who do not meet the eligibility requirements for unemployment benefits, including so-called “gig workers” or other non-traditional workers that generally receive 1099 income as either a primary or secondary source of earnings. Many of these workers are not eligible for unemployment insurance, paid leave, sick leave, and other benefits that traditional, full-time workers typically receive from their employers, as well as workers who earn a large share of their incomes from tips. We continue to push for passage of Senator Wyden and Senator Peters’ Pandemic Unemployment Assistance Act, which is modeled on the Disaster Unemployment Assistance (DUA) program, and would ensure that gig workers and contractors are covered. However, given the severity of the crisis, we ask you to do whatever is possible to extend support to workers who do not fit into the usual framework of unemployment compensation. It is critical that there be no delay in using your existing authorities to support these workers to the greatest extent possible. ”

The coronavirus economic relief legislation the Senate sent to the President’s desk today provides $1 billion in additional funding to state unemployment insurance programs. It also waives certain restrictions, including work search requirements and waiting periods for Americans who are either diagnosed with COVID-19 or who have lost their jobs due to the spread of the virus.

A copy of the letter is available here and below. A list of Sen. Warner’s work to protect Americans amid the coronavirus outbreak is available here.

March 18, 2020

Governors and State Workforce Administrators:

We write today to thank you for your efforts to support workers during the unprecedented situation due to the spread of Coronavirus (COVID-19). As we continue our efforts to provide federal assistance during these challenging times, we want to encourage you to do whatever is within your existing authorities to support workers facing hardship due to lost hours or jobs, sickness, family caretaking responsibilities, and other COVID-19-related circumstances.

Given the unique nature of the pandemic we are facing, we encourage you to take advantage of recently enacted federal legislation that increases resources for states to deliver timely unemployment insurance benefits to affected workers. The legislation should make it easier for workers to access unemployment benefits by waiving waiting weeks and work search requirements, as well as experience ratings for employers. Given these unavoidable circumstances, employers should not be penalized for encouraging their workers to receive unemployment compensation and workers should be able to access compensation immediately, particularly when other work opportunities may not be available. This is not only a matter of economic security but one of public health, as workers who cannot access unemployment benefits are likely to try and find work even when the costs to public health may be severe.

We are also especially concerned about the hardships facing workers who do not meet the eligibility requirements for unemployment benefits, including so-called “gig workers” or other non-traditional workers that generally receive 1099 income as either a primary or secondary source of earnings. Many of these workers are not eligible for unemployment insurance, paid leave, sick leave, and other benefits that traditional, full-time workers typically receive from their employers, as well as workers who earn a large share of their incomes from tips. We continue to push for passage of Senator Wyden and Senator Peters’ Pandemic Unemployment Assistance Act, which is modeled on the Disaster Unemployment Assistance (DUA) program, and would ensure that gig workers and contractors are covered. However, given the severity of the crisis, we ask you to do whatever is possible to extend support to workers who do not fit into the usual framework of unemployment compensation. It is critical that there be no delay in using your existing authorities to support these workers to the greatest extent possible.

An effective response to COVID-19 will require a collaborative effort at the federal, state, and local levels of government and we stand ready to assist you in carrying out these critical efforts to protect public health while supporting workers through the economic shocks of the pandemic.

Sincerely,

###

WASHINGTON – Today, U.S. Senator Chris Van Hollen (D-Md.) as well as Senators Ben Cardin (D-Md.), Mark Warner (D-Va.) and Tim Kaine (D-Va.) sent a letter to the financial regulators asking them to take action to mitigate the adverse impacts of the coronavirus on workers in the hospitality and tourism industry. The letter was sent to Jerome Powell, Chairman of the Federal Reserve; Joseph Otting, Comptroller of the Currency; Jelena McWilliams, Chair of the Federal Deposit Insurance Corporation; Mark McWatters, Chairman of the National Credit Union Administration; and John Ryan, President and CEO of the Conference of State Bank Supervisors.

The Senators write, “As Americans take necessary precautions to protect the well-being of their families, their workplaces and their communities from the novel coronavirus (COVID-19), the economic fallout on workers and businesses is becoming increasingly severe. Given the recent guidance and bans on travel, the millions of workers who serve in sectors like hospitality, travel, special events, and tourism are particularly hard hit. To that end, we urge you to take all actions within your power to ensure that workers do not lose their jobs or wages as a result of this public health crisis while also using your authority to maintain the safety and soundness of our banking system.”

They note, “This is of particular concern to our regional economy, which relies heavily on tourism and business travel, especially during this time of year. To put this into context, the Maryland Department of Commerce estimates that in 2018 alone, visitor spending contributed $18.1 billion to Maryland’s economy. Virginia’s tourism industry generated $26 billion in visitor spending in 2018. And, in 2018 the District of Colombia saw tourists spend $7.8 billion.”

They continue, “We appreciate your recent joint agency statement to encourage financial institutions to meet the needs of customers and members affected by the novel coronavirus/COVID-19 outbreak. We encourage you to apply similar guidance for businesses in the travel, hospitality, and tourism sectors so they can continue to pay their employees and provide them with full pay and benefits, including paid sick leave, during the ongoing coronavirus health crisis. Enacting this guidance would help employees, lenders, and businesses alike – lenders would not have to write-off loans, businesses could continue paying their employees, and employees would continue receiving paychecks.”

They close the letter noting a variety of options available to the regulators, including:

Providing loan workouts to modify or restructure loans to avoid foreclosure
Allowing borrowers to defer payments without penalty, provided that the businesses use the deferral for employee-related expenses
Allowing borrowers to defer the principal portion of the monthly payment and make an interest-only payment.
Allowing borrowers to refinance without fees.
These measures could not be used in any way for owner distributions.

The full text of the letter is available below.

Dear Chairman Powell, Comptroller Otting, Chair McWilliams, Chairman McWatters, and Mr. Ryan:

As Americans take necessary precautions to protect the well-being of their families, their workplaces and their communities from the novel coronavirus (COVID-19), the economic fallout on workers and businesses is becoming increasingly severe. Given the recent guidance and bans on travel, the millions of workers who serve in sectors like hospitality, travel, special events, and tourism are particularly hard hit. To that end, we urge you to take all actions within your power to ensure that workers do not lose their jobs or wages as a result of this public health crisis while also using your authority to maintain the safety and soundness of our banking system.

While the first priority for our response has rightly focused on detection and medical care, we are also developing a legislative response to the harmful economic impacts this pandemic is having on working families. Last week, Congress passed the Coronavirus Preparedness and Response Supplemental Appropriations Act of 2020, which includes provisions to help small businesses, and Congress is currently considering additional measures.

With conferences and other public events canceled, travel discouraged, and consumers staying home, the hospitality and tourism industries are among the sectors that have been particularly hard hit, and workers in these industries are at greater risk of losing their jobs and/or wages.

Federal data shows that travel and tourism accounted for 5.9 million U.S. jobs in 2018, including positions in lodging, dining and transportation. In 2017 alone, business events in North America generated $221.6 billion in direct GDP, representing 35.7% of global business events GDP. Consequently, the damaging economic impact on this sector and its workforce will reverberate throughout the economy.

This is of particular concern to our regional economy, which relies heavily on tourism and business travel, especially during this time of year. To put this into context, the Maryland Department of Commerce estimates that in 2018 alone, visitor spending contributed $18.1 billion to Maryland’s economy. Virginia’s tourism industry generated $26 billion in visitor spending in 2018. And, in 2018 the District of Colombia saw tourists spend $7.8 billion.

We appreciate your recent joint agency statement to encourage financial institutions to meet the needs of customers and members affected by the novel coronavirus/COVID-19 outbreak. We encourage you to apply similar guidance for businesses in the travel, hospitality, and tourism sectors so they can continue to pay their employees and provide them with full pay and benefits, including paid sick leave, during the ongoing coronavirus health crisis. Enacting this guidance would help employees, lenders, and businesses alike – lenders would not have to write-off loans, businesses could continue paying their employees, and employees would continue receiving paychecks.

For businesses that have been in good standing with their financial institution prior to the crisis and that commit to retaining employees and providing them with full pay and benefits, including paid sick leave, we encourage you to implement the appropriate mix of the following options:

Providing loan workouts to modify or restructure loans to avoid foreclosure
Allowing borrowers to defer payments without penalty, provided that the businesses use the deferral for employee-related expenses
Allowing borrowers to defer the principal portion of the monthly payment and make an interest-only payment.
Allowing borrowers to refinance without fees.
These measures could not be used in any way for owner distributions.

As we continue to see impacts of coronavirus, we urge you to take proactive measures to ensure the long-term health of these hard hit sectors and their employees. Thank you for your attention to this important issue.

###

WASHINGTON – U.S. Sen. Mark R. Warner (D-VA) was joined by six of his Senate colleagues in calling on the U.S. Department of Homeland Security (DHS) to release the additional H-2B visas needed to support local seafood businesses in Virginia and states like Alaska, Maryland, and North Carolina. The letter, signed by Sens. Ben Cardin (D-MD), Tim Kaine (D-VA), Lisa Murkowski (R-AK), Dan Sullivan (D-AK), Thom Tillis (R-NC), and Chris Van Hollen (D-MD), urges the DHS to quickly authorize additional visas for temporary non-agricultural workers so that seafood industries around the country can hire seasonal workers and continue operations.

“Many of the seafood businesses we represent are family-owned operations that go back multiple generations, often in rural areas of our states. Despite good faith efforts to find local seasonal workers, our seafood industries rely on H-2B workers for tough jobs such as shucking oysters and processing crabs,” wrote the Senators. “These businesses are entirely reliant on the forces of nature that determine, for example, when salmon will run and be ready for harvest. Without H-2B visas, some local businesses will be forced to reduce the size of their American workforces.”

“We urge the Department to promptly make available sufficient visas to meet the labor needs of our states’ seafood industries, and to announce its intent to do so by March 1, 2020,” they continued. “Local seafood businesses earn their livelihoods based on perishable products, and need H-2B workers to harvest and process their respective seafood products so they can sell those products. If these local businesses lose a customer base one year, it is extremely difficult, if not impossible, to come back into the industry. We have already heard from local businesses that will be forced to shut down ahead of the 2020 season if a sufficient number of Congressionally-authorized H-2B visas are not released.”

H-2B visas allow employers to temporarily hire nonimmigrants to perform nonagricultural labor or services in the United States if U.S. workers are not available, after completing rigorous application and certification process. These visas are critical to the survival of Virginia’s seafood industry – particularly the seafood processing community around the Chesapeake Bay. Last month, Sen. Warner met with Virginia seafood processors in Tappahannock, who expressed concern with their inability to fill their seasonal labor needs, resulting in lost supply agreements with grocery stores and other customer suppliers who are then forced to turn to foreign imports for their orders.

According to the Virginia Institute of Marine Science’s last complete study of this kind, the commercial seafood industry in Virginia generates $407.9 million in economic output, which includes all economic activity from harvesters to restaurants. Of that $407.9 million, 62 percent comes from seafood processing/wholesaling firms – the primary companies who rely on the H-2B worker program. Additionally, according to the Virginia Marine Resources Commission, in 2017, Virginia oysters alone had a dockside value of more than $48.9 million dollars, followed by Quahog Clams with more than $47.6 million and Blue Crabs with more than $38 million in dockside value.

In the letter, the Senators note that the Congressionally-authorized FY20 Consolidated Appropriations Act gives the DHS Secretary, in consultation with the Secretary of the U.S. Department of Labor (DOL), the authority to raise the cap on H-2B visas, and issue additional visas as needed.

Sen. Warner has long advocated for Virginia’s seafood processing industry – a community largely made up of rural, family-owned operations. Earlier this month, in a bipartisan call, he pressed DHS Secretary Wolf to release the additional Congressionally-authorized H-2B visas, to publicly announce this intent, and to do so as quickly as possible. Additionally, in January, he joined a bipartisan, bicameral letter calling on the Administration to increase the statutory cap of H-2B visas for FY20. He also recently met with DOL Secretary Eugene Scalia to discuss the impact of the H-2B program on Virginia and urge the Secretary to work alongside DHS to release the additional visas in a timely fashion. Sen. Warner has previously introduced bipartisan legislation to strengthen the H-2B visa program, and has requested an audit to determine the number of unused visas that could be made available to eligible petitioners.

The letter is available here and below.

The Honorable Chad F. Wolf

Acting Secretary

United States Department of Homeland Security

3801 Nebraska Avenue, NW

Washington, DC 20528

Dear Acting Secretary Wolf:

We write on behalf of local seafood businesses in Virginia, Alaska, Maryland, and North Carolina who need the Department of Homeland Security (DHS) to release additional H-2B visas in order to hire seasonal workers and continue operations. We were encouraged to hear that you have been working diligently on this issue when we spoke with you last week.

Many of the seafood businesses we represent are family-owned operations that go back multiple generations, often in rural areas of our states. Despite good faith efforts to find local seasonal workers, our seafood industries rely on H-2B workers for tough jobs such as shucking oysters and processing crabs. These businesses are entirely reliant on the forces of nature that determine, for example, when salmon will run and be ready for harvest. Without H-2B visas, some local businesses will be forced to reduce the size of their American workforces.

Under the “Further Consolidated Appropriations Act, 2020”, the Secretary of the Department of Homeland Security, in consultation with the Secretary of the Department of Labor (DOL), is authorized to provide expeditious H-2B cap relief for our local businesses’ upcoming seasonal labor needs. We urge the Department to promptly make available sufficient visas to meet the labor needs of our states’ seafood industries, and to announce its intent to do so by March 1, 2020.

Local seafood businesses earn their livelihoods based on perishable products, and need H-2B workers to harvest and process their respective seafood products so they can sell those products. If these local businesses lose a customer base one year, it is extremely difficult, if not impossible, to come back into the industry. We have already heard from local businesses that will be forced to shut down ahead of the 2020 season if a sufficient number of Congressionally-authorized H-2B visas are not released.

Without answers on H-2B visa cap relief for 2020, our seafood industries remain in a unique and perilous position. We urge you to quickly announce your intent to make available sufficient H-2B visas authorized as Congress. Thank you for your careful attention to this critical matter.

Sincerely,

###

WASHINGTON, D.C. – Today, U.S. Senators Mark R. Warner and Tim Kaine announced $47,220,892 in federal funding to support public housing and workforce development programs in 26 localities across Virginia. The funding was awarded through the Department of Housing and Urban Development’s (HUD) Job Plus Initiative and Public Housing Capital Fund programs.

“It’s important for every Virginian to have the opportunity to secure stable housing and employment,” the Senators said. “We’re pleased that these federal funds will help ensure more Virginians have access to affordable homes and upward mobility.”

The Jobs Plus Initiative program develops locally-based, job-driven approaches to advance employment outcomes and increase earnings for residents of public housing.

The Capital Fund provides federal funding for the development, financing, and modernization of public housing developments.

The Virginia housing authorities that received funding from the Jobs Plus Program are listed here:

City Virginia Housing Authority Recipient Amount

PORTSMOUTH

Portsmouth Redevelopment and Housing Authority

$2,300,000

The Virginia housing authorities that received funding from the Capital Fund are listed here:

City Virginia Housing Authority Recipient Amount

ABINGDON ALEXANDRIA	Abingdon Redevelopment & Housing Authority Alexandria Redevelopment & Housing Authority	$70,754 $1,907,939
BRISTOL	Bristol Redevelopment & Housing Authority	$930,998
CHARLOTTESVILLE	Charlottesville Redevelopment & Housing Authority	$960,618
CHESAPEAKE	Chesapeake Redevelopment & Housing Authority	$1,261,470
COEBURN	Wise County Redevelopment & Housing Authority	$459,136
DANVILLE	Danville Redevelopment & Housing Authority	$1,202,845
DUFFIELD	Scott County Redevelopment & Housing Authority	$219,382
FRANKLIN	Franklin Redevelopment & Housing Authority	$168,040
HAMPTON	Hampton Redevelopment & Housing Authority	$1,583,634
HOPEWELL	Hopewell Redevelopment & Housing Authority	$888,611
JONESVILLE	Lee County Redevelopment & Housing Authority	$146,191
LEBANON	Cumberland Plateau Regional Housing Authority	$615,483
LYNCHBURG	Lynchburg Redevelopment & Housing Authority	$926,987
MARION	Marion Redevelopment & Housing Authority	$573,088
NEWPORT NEWS	Newport News Redevelopment & Housing Authority	$4,295,157
NORFOLK	Norfolk Redevelopment & Housing Authority	$7,978,621
NORTON	Norton Redevelopment & Housing Authority	$515,977
PETERSBURG	Petersburg Redevelopment & Housing Authority	$930,090
PORTSMOUTH	Portsmouth Redevelopment & Housing Authority	$1,628,891
RICHMOND	Richmond Redevelopment & Housing Authority	$11,547,123
ROANOKE	Roanoke Redevelopment & Housing Authority	$3,702,478
SUFFOLK	Suffolk Redevelopment & Housing Authority	$1,161,115
WAYNESBORO	Waynesboro Redevelopment & Housing Authority	$453,879
WILLIAMSBURG	Williamsburg Redevelopment & Housing Authority	$263,260
WYTHEVILLE	Wytheville Redevelopment & Housing Authority	$529,125

###

WASHINGTON – U.S. Sen. Mark R. Warner (D-VA) has urged the U.S. Securities and Exchange Commission (SEC) to require companies to disclose more information regarding their investment in workers, such as turnover rates, amounts spent on employee training opportunities, and whether workers are considered full-time employees or contractors. Sen. Warner’s letter comes as the SEC considers public comments regarding its proposed modernization of Regulation S-K, the set of SEC rules that establish disclosure requirements for public companies.

“As our nation continues to evolve and our economy becomes more knowledge-based, workers are easily becoming the most valuable asset a company can have. Human capital can affect a company’s potential, and when properly cultivated, can boost its ability to adapt, innovate, and compete,” said Sen. Warner, regarding the letter he sent to the SEC. “I appreciate the SEC’s commitment to fostering a culture of increased investment in our workers, but urge it to take this effort a step further by requiring companies to disclose exactly how they’re investing in their labor force.”

The SEC’s current proposed rule would require that companies broadly disclose human capital resources, measures, and objectives, but not necessarily specific metrics, which can be valuable for potential investors across a variety of industries.

In the letter to SEC Chairman Jay Clayton, Sen. Warner applauded the SEC’s efforts and urged the SEC to take additional steps, including requiring disclosure of specific metrics related to worker training, turnover rates, and full versus part-time workers. This kind of information can be easily compared across industries and companies, and can help shareholders better understand risks to company performance, and potential long-term systemic risks to the economy.

Sen. Warner has been an outspoken advocate of investing in our workers, and ensuring they are adequately equipped to participate in the 21^st century labor force. Earlier this year, the SEC announced this proposed rule following advocacy by Sen. Warner, who last year urged the Commission to heed the calls of investors and utilize its rulemaking authority to require companies across the board to provide further details relating to human capital management.

The letter text can be found below and a PDF copy is available here.

The Honorable Jay Clayton

Chairman

Securities & Exchange Commission

100 F Street, N.E.

Washington, DC 20549

United States File Number S7-11-19

Dear Chairman Clayton,

I applaud the Securities and Exchange Commission’s (Commission’s) recent actions on the Modernization of Regulation S-K, particularly with regard to Item 101, and welcome the opportunity to comment on an issue that has long been a focus of mine. Human capital is among a company’s most valuable assets. It is critical to a firm’s ability to innovate, adapt, and compete as companies in the United States transition to a 21st-century knowledge-based economy. As the proposed rule notes, “intangible assets [including human capital] represent an essential resource for many companies.”

Beyond the value that human capital holds for a company itself, shareholders increasingly expect public companies to disclose material issues affecting a businesses’ financial performance – such as investments in human capital and worker training. These disclosures are relevant and important to shareholders, not only in order to better understand risks to company performance, but also to understand potential long-term systemic risks to the economy. You have also raised the issue of the importance of human capital disclosures to shareholders, most recently in May 2019 at the Investment Company Institute, stating, “If I am an investor looking at businesses today, I want to know what you are doing with your human talent, how you are growing your human talent, how you are accessing new talent, how you are retaining existing talent . . .”

The route that the Commission has taken with the proposed rule is encouraging, however, I believe the more appropriate route should be a principles-based approach that incorporates some prescriptive elements. As the Commission notes, the current human capital element in Item 101(c) “dates back to a time when companies relied significantly on plant, property, and equipment to drive value.” With regard to the Commission’s proposed amendments, I could not agree more that Item 101(c) should be modernized to include human capital resources, measures, and objectives as a disclosure topic. Further, I recognize the value that a principles-based approach holds for human capital management disclosures. Setting objectives and letting management judge what information best satisfies the disclosure requirements for the registrant is beneficial, but cannot be the entire picture. Human capital management, and the metrics used to measure it, differs from one industry to the next and even among companies within the same industry. A purely prescriptive approach may miss important subjective information, but a purely principles-based approach would fall short by losing the benefits of increased consistency and comparability for investors.

I understand that you have expressed concerns about the value of mandating certain metrics as disclosure items across all industries, but I encourage the Commission to consider the value of quantitative information that is of a high value to investors across a variety of industries. Specific disclosures make it easier to compare registrants, which is important to potential investors. You have commented on the importance of comparability yourself, for instance in February 2019 during a phone call with Investor Advisory Committee Members: “for human capital, I believe it is important that the metrics allow for period to period comparability for the company.” There are certain disclosure items, such as whether workers are full-time or contractors, turnover rates, and spending on employee training opportunities, that can provide universal value across all industries. I recognize the risk that prescriptive metrics can pose – that companies may “manage to the metric,” as the SEC Investment Advisory Committee put it. However, I encourage the Commission to engage with investors, registrants, and experts further to learn more about metrics that may serve useful purposes while minimizing unintended consequences.

With regard to the utility of non-exclusive examples, I believe that the Commission should provide these to registrants. Principles-based disclosure can lack direction. Examples will be especially useful for registrants when disclosing on new human capital management metrics.

I believe the addition of more human capital management disclosure requirements to Regulation S-K furthers the Commission’s mission to “protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.” Thank you for your attention to this critical matter.

Sincerely,

###

WASHINGTON – Today U.S. Senator Chris Van Hollen (D-Md.) led a bicameral letter to U.S. Department of Agriculture (USDA) Secretary Sonny Perdue about the proposed relocation of the USDA’s Economic Research Service (ERS) and National Institute of Food and Agriculture (NIFA).

He was joined on the letter by Senators Debbie Stabenow (D-Mich.), Ben Cardin (D-Md.), Patty Murray (D-Wash.), Sherrod Brown (D-Ohio), Mark Warner (D-Va.) and Tim Kaine (D-Va.) and U.S. Representatives Steny Hoyer (D-Md.), Dutch Ruppersberger (D-Md.), John Sarbanes (D-Md.), Anthony Brown (D-Md.), Eleanor Holmes Norton (D-D.C.), Jennifer Wexton (D-Va.), Jamie Raskin (D-Md.), Gerry Connolly (D-Va.), Don Beyer (D-Va.), David Trone (D-Md.), Chellie Pingree (D-Maine), and Marcia Fudge (D-Ohio).

While members continue to oppose the relocation, they have raised two specific issues with the Secretary following his conversation with Senator Van Hollen on Sunday:

· First, it is our understanding that AFGE Local 3403 sent a letter to USDA requesting an extension of the July 15 deadline to accept or decline the employee reassignment to Kansas City. The union issued a demand to bargain on June 18, and requested to meet on June 24 to begin bargaining. However, ERS and USDA management and labor relations officials refused to meet before July 15. Working out some issues with the union would help to ensure more employees can make an informed decision about whether to relocate, potentially mitigating at least some of the serious damage that this move will do to the ability of these agencies to carry out their missions. We understand that in your view, July 15 was a preliminary deadline, and that the final deadline is September 30. Can you confirm that the deadline for employees to accept or decline reassignment to Kansas City is now September 30?

· Second, the General Services Administration recently extended the deadline by one month for Kansas City real estate companies to submit bids to hold the future lease for the ERS and NIFA. It is our understanding that the process of securing and building out a new space in Kansas City could take up to two years. This predicament makes it nearly impossible for your employees to determine where they will be living, where to send their children to school, and other important decisions until they know where the final office space will be located in Kansas City. Will you also commit to utilizing available office space and teleworking capabilities to keep your employees in the National Capital Region unless and until a final office space is completed and ready for occupancy in Kansas City?

The full text of the letter is available below and here.

Dear Secretary Perdue:

We again write to express our opposition to your proposal to reorganize USDA, specifically the proposal that would relocate the Economic Research Service (ERS) and the National Institute of Food and Agriculture (NIFA) away from the National Capital Region to Kansas City.

These agencies are national research institutions that provide vital information on national and local issues that are critically important to farmers, families, and rural communities. In order to provide this world-class research, ERS and NIFA need to be able to coordinate with other U.S. statistical agencies as well as other stakeholders that are connected to on the ground efforts, which are headquartered in the National Capital Region. We remain concerned that this restructuring will gut the ability of these agencies to successfully carry out their important missions. We also remain concerned that the quality of work being done at ERS and NIFA has already been undermined and will continue to degrade.

In particular, data compiled by American Federal Government Employees Local 3403, as part of a summary of all employees, found that ERS could expect more than 4 out of 5 of its more than 200 employees and more than 90% of NIFA’s more than 300 employees to decline reassignment to the temporary offices in Kansas City, and instead seek employment elsewhere. With such a high rate of projected attrition, this move will have catastrophic impacts on the scientific capabilities of USDA, thereby hurting the farmers, families, and rural communities who benefit from the important work of these agencies.

While we oppose entirely the relocation and will continue to work to stop this move, we write today with two principal requests on which we ask for your immediate response.

First, it is our understanding that AFGE Local 3403 sent a letter to USDA requesting an extension of the July 15 deadline to accept or decline the employee reassignment to Kansas City. The union issued a demand to bargain on June 18, and requested to meet on June 24 to begin bargaining. However, ERS and USDA management and labor relations officials refused to meet before July 15. Working out some issues with the union would help to ensure more employees can make an informed decision about whether to relocate, potentially mitigating at least some of the serious damage that this move will do to the ability of these agencies to carry out their missions. We understand that in your view, July 15 was a preliminary deadline, and that the final deadline is September 30. Can you confirm that the deadline for employees to accept or decline reassignment to Kansas City is now September 30?

Second, the General Services Administration recently extended the deadline by one month for Kansas City real estate companies to submit bids to hold the future lease for the ERS and NIFA. It is our understanding that the process of securing and building out a new space in Kansas City could take up to two years. This predicament makes it nearly impossible for your employees to determine where they will be living, where to send their children to school, and other important decisions until they know where the final office space will be located in Kansas City. Will you also commit to utilizing available office space and teleworking capabilities to keep your employees in the National Capital Region unless and until a final office space is completed and ready for occupancy in Kansas City?

We know you care deeply about improving customer service at the Department; however, customers cannot be served if there are not an adequate number of employees to get the job done. Thank you for your prompt attention to these urgent matters that are of critical importance to our farmers, families, and rural communities.

Sincerely,

###

WASHINGTON – U.S. Sen. Mark R. Warner (D-VA) joined Sens. Roger Wicker (R-MS), Shelley Moore Capito (R-WV), and Ben Cardin (D-MD) in introducing legislation to encourage greater investment in rural and underserved areas. The Rural Jobs Act would build on the proven success of the New Markets Tax Credit (NTMC) by increasing the flow of private investment to rural areas.

“During my time as Governor and in the Senate, I’ve supported initiatives to help create jobs and boost economic opportunity for all Virginians,” said Sen. Warner. “There’s a lot happening in parts of Southwest and Southside Virginia, but we still have more work to do to ensure that no part of Virginia is left behind. That’s why I’m proud to introduce this legislation to set aside additional tax credits for rural and underserved regions.”

“The proposed Rural Jobs Act specifically addresses the critical needs of places like Danville, Virginia, that have been struggling to regain their economic health in the twenty-first century. New Markets Tax Credits have been a very valuable tool for this locality, and we are excited about the possibility of additional authorization to fund such Credits in smaller cities and rural areas. We believe that this program is a model for the kind of investment programs that return dividends not only to the locality, but ultimately to the nation. Our support for the Rural Jobs Act is total and passionate,” said Linwood Wright, Former Mayor and Consultant to the Office of Economic Development, Danville, Virginia.

“The Rural Jobs Zones initiative will drive more resources to projects such as the OnePartner/HMG Medical Center in Duffield, Virginia. Hampton Roads Ventures used the New Markets Tax Credit to finance a new facility that expanded medical services to residents in this medically underserved area. Rural Jobs Zones will benefit from billions in private sector financing for health centers, manufacturing businesses, broadband expansions, and Main Street revitalization efforts. We applaud Senator Warner for his continued commitment to rural economic development,” said Jennifer Donohue, CEO of Hampton Roads Ventures, LLC.

"Senator Warner’s Bill, the Rural Jobs Act, will create a powerful new tool for economic and community development in rural communities across Virginia and across the nation, it will lead to more quality jobs and better futures in rural America," said Rob Robert G. Goldsmith, President and CEO, People Incorporated Financial Services.

The New Markets Tax Credit (NMTC) program currently provides a modest tax incentive to private investors to invest in low-income communities. Since the creation of the NMTC, a total of 70 businesses and economic revitalization projects in Virginia have already received financing, with a total of $735.9 million in NMTC allocations going towards $1.4 billion in project investments. Between 2003 and 2015, the program created 14,559 jobs across the Commonwealth.

The Rural Jobs Act would help close the job creation gap by designating $500 million in NMTC investments for “Rural Job Zones” – low-income communities that have a population smaller than 50,000 inhabitants and are not adjacent to an urban area. Under this new definition, Rural Job Zones would be established in 342 out of the 435 congressional districts across the country.

Under this legislation, Virginia would have more qualified census tracts than almost any other state, providing greater investment opportunity to support and grow businesses and create jobs in communities across the Commonwealth. The bill would also require that at least 25 percent of this new investment activity be targeted to persistent poverty counties and high-migration counties. There are approximately 400 persistent poverty counties in the United States, 85 percent of which are located in non-metro or rural areas.

Companion legislation has also been introduced in the House of Representatives by Reps. Terri Sewell (D-AL) and Jason Smith (R-MO).

The full text of the bill is available here.

###

WASHINGTON – U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA) introduced legislation that would prevent the Trump Administration from closing the Flatwoods Job Corps Civilian Conservation Center in Coeburn, Va. The bipartisan Job Corps Protection Act would block the Administration from using federal government funds in 2019 or 2020 to close any Job Corps Civilian Conservation Centers in the United States.

The legislation is in response to a Department of Labor (DOL) and United States Department of Agriculture (USDA) announcement that the Flatwoods facility and eight other Job Corps Civilian Conservation Centers are scheduled to close as part of the program’s transfer from USDA to DOL. Civilian Conservation Centers provide valuable job training for young adults ages 16 to 24 in rural communities across the country, including in Southwest Virginia, while assisting in the conservation of the nation’s limited public natural resources. This legislation also comes on the heels of a letter that Sens. Warner and Kaine, along with Rep. Morgan Griffith (R-VA), sent to the Trump Administration last week, urging DOL and USDA to reconsider the closure of these facilities.

“For decades, the Flatwoods Job Corps facility in Coeburn, Virginia has helped equip young Virginians with the skills needed to succeed in today’s changing economy,” said Sen. Warner. “Closing the door on this vital program would not only make it harder to expand economic opportunities in Southwest Virginia, it will also make it harder for Virginia’s employers to find the kind of high-skilled talent that the jobs of tomorrow will require.”

“Job training is at the core of preparing our next generation for good-paying jobs in Virginia and across the country. I’m worried about the Trump Administration’s decision to close nine Job Corps Civilian Conservation Centers – including Flatwoods Job Corps in Coeburn, Va., a top performing Center that has a tremendous economic impact in Southwest Virginia. There’s agreement on both sides of the aisle that President Trump shouldn’t take funding away from these critical job training programs, and Congress can prevent him from doing so by passing our bill,” Sen. Kaine said.

In addition to Sens. Warner and Kaine, the Job Corps Protection Act is sponsored by Sens. Jon Tester (D-MT), John Boozman (R-AR), Jeff Merkley (D-OR), Steve Daines (R-MT), Maria Cantwell (D-WA), Ron Wyden (D-OR), and Tammy Baldwin (D-WI).

Separately, Sens. Warner and Kaine joined a bipartisan, bicameral group of 18 Senators and 33 Representatives in pushing USDA and DOL to reverse their decision to end the Civilian Conservation Center program in its current form and shutter nine facilities across the nation.

“We write to express strong opposition to your Departments’ recent decision to permanently close over a third of Civilian Conservation Center program facilities and end the program in its current form. We strongly urge you to reconsider this decision,” the Senators and Representatives wrote in a letter to U.S. Secretary of Labor Alexander Acosta and U.S. Secretary of Agriculture Sonny Perdue. A copy of the letter is available here.

###

WASHINGTON, D.C. - Today, U.S. Senators Mark R. Warner and Tim Kaine joined Senators Joe Manchin (D-WV), Sherrod Brown (D-OH), Bob Casey (D-PA), and Tammy Duckworth (D-IL) to introduce the Revitalizing the Economy of Coal Communities by Leveraging Local Activities and Investing More (RECLAIM) Act of 2019 to provide opportunities for coal reclamation and economic development in communities impacted by the downturn in the coal industry.

“As technologies evolve and our economy changes, we cannot forget about the coal mining communities that for years fueled our nation. The RECLAIM Act reiterates our economic commitment to these mining communities by fast-tracking the release of $1 billion from the Abandoned Mine Reclamation Fund and using it to fund projects that reinvigorate communities, promote economic growth and counteract the environmental effects of coal mining locally,” said Warner.

"Mine reclamation supports hundreds of jobs in Virginia each year, strengthens our economy, and helps clean up the environment,” said Kaine. “This bill would let money already sitting in the Abandoned Mine Reclamation Fund be used to boost economic development in coal communities.”

The RECLAIM Act of 2019 releases $1 billion from the remaining, unappropriated balance in the Abandoned Mine Reclamation Fund to states to be spent on reclamation projects in communities impacted by abandoned mine lands (AML) and the recent decrease in coal mining production. The RECLAIM Act will also require states to carry out reclamation projects that will create favorable conditions for economic development.

These projects must be conducted in areas that have been adversely affected by a reduction in coal mining related activity and/or in communities that have traditionally relied on coal mining for a substantial portion of their economy. Under the RECLAIM Act, $195 million will be distributed to uncertified states and tribes with approved AML programs each year from Fiscal Year 2020 to 2024.

Virginia has over 71,000 acres of land that has been impacted by coal mining. It is estimated that it would take approximately 55 years at the current rate of funding and reclamation construction to reclaim Abandoned Mine Land sites in the Commonwealth. The estimated price tag for reclamation is over $313 million. The RECLAIM Act would provide additional funding to the Virginia Abandoned Mine Land program and help speed up reclamation efforts in Southwest Virginia.

To learn more about the RECLAIM Act click here and to read the full bill text click here.

###

WASHINGTON – Today, the Securities and Exchange Commission (SEC) Investor Advisory Committee called on the Commission to modernize and improve corporate reporting and disclosure of human capital management practices.

The Investor Advisory Committee recommendations come on the heels of calls by U.S. Sen. Mark R. Warner (D-VA) for accounting principles and reporting requirements to view workforce investments in human capital as assets, rather than costs, in a knowledge-based economy.

Last July, Sen. Warner, a former business executive and current member of the Senate Banking Committee, pressed the SEC to use its rulemaking authority to require companies to tell shareholders whether and how they are investing in their workforces through human capital management disclosures. The Investor Advisory Committee’s recommendations to the SEC today track closely with the human capital reforms Sen. Warner proposed in his July letter.

“I’m very encouraged to see the Investor Advisory Committee come to similar conclusions based on the evidence: that the SEC should recognize the significance of human capital management and modernize corporate reporting and disclosure on it. In particular, I’m encouraged to see their recommendations include training per-employee. The recommendations would go a long way to provide investors with the critical information they need to evaluate whether a company is making the appropriate investments in its workforce to compete in a 21st century economy. Just as there were increasing calls for greater and standardized disclosure of R&D in the 1970’s, there’s growing support for more human capital disclosure for the purpose of long-term economic growth. I hope the SEC responds with quick, meaningful action,” Sen. Warner said today.

Human capital management disclosures provide a snapshot of how U.S. companies compensate, train, retain, and incentivize their employees. Several studies have found that human capital management disclosures are an important predictor of a company’s long-term success in a changing economy. For example, a 2015 McKinsey study found that firms that prioritize learning programs for their employees perform better overall than those that do not. As the Investor Advisory Committee also noted, a recent Harvard report found a positive correlation between disclosed training programs and financial performance. Requiring companies to disclose human capital management indicators would provide investors with a better understanding of a firm’s performance and potential for long-term growth.

The SEC’s current human capital disclosure requirements are extremely limited, requiring disclosures only of the number of employees, their median compensation, and CEO compensation. In a July letter, Sen. Warner urged the SEC to heed the calls of investors and utilize its rulemaking authority to require companies across the board to provide further details relating to human capital management. Specifically, Sen. Warner encouraged the SEC to revise and modernize Regulation S-K to require public reporting companies to disclose more qualitative and quantitative information regarding human capital. While the SEC would be responsible for developing and finalizing the requirements, human capital disclosures could potentially require firms to make public information about employee education and training programs; workforce demographics; employee turnover; employee compensation; and workforce compensation and incentives.

###

WASHINGTON, D.C. – Today, U.S. Senators Mark R. Warner and Tim Kaine applauded the Appalachian Regional Commission (ARC) for awarding $2,296,533 in federal funding to communities in Southwest Virginia through its Partnership for Opportunity and Workforce and Economic Revitalization (POWER) program.

“We are thrilled to support this economic investment in Southwest Virginia,” the Senators said. “This funding aims to stimulate the local economy by promoting job growth, increasing access to capital, and supporting local businesses.”

The funding will be awarded as follows:

Appalachian Sustainable Development (ASD) in Abingdon, VA will receive $1,250,000 to enhance a multi-state food network across Appalachia through mediation between private industry and small-scale farmers, fostering aggregation and distribution opportunities. It will increase the region’s produce supply, attracting more regional and national buyers to purchase local produce. It is anticipated that the project will improve 238 businesses, create 38 new businesses and 85 jobs, and leverage $732,666 of private investment.
People Incorporated Financial Services (PIFS) in Abingdon, VA will receive $486,769 for the New Market Tax Credit Project – Growth in Appalachia. This funding will allow PIFS to focus on providing technical assistance and advisory services to start-up and emerging businesses, local government and community based organizations. PIFS anticipates this will create a minimum of 50 jobs and leverage $10 million in new capital into local communities.
Bland County will receive $459,764 for the Bland County Broadband Deployment Project to construct a 33 mile fiber run that will be used to supply broadband to 37 businesses, Bland County Schools, the Board of Education Offices and the Bland County Health Clinic.
Friends of Southwest Virginia in Abingdon, VA will receive $100,000 for a multi-state plan that would develop common natural and cultural assets that can boost regional economic diversification. This process will bridge communities in Southwest Virginia with their neighbors in North Carolina, Tennessee, West Virginia, and Kentucky, to create a community-driven identification and planning process.

The ARC’s POWER Initiative provides grants to communities that have been affected by severe job losses in the coal industry and the changing dynamics of America’s energy production. ARC's mission is to innovate, partner, and invest in the growth of new industries in Appalachia to diversify the region’s economy. Warner and Kaine have been strong advocates for a fully funded ARC so that it can continue to increase employment and economic opportunities for those living in Appalachia.

###

WASHINGTON – U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA) were joined by every member of the Virginia congressional delegation in urging U.S. Air Force Secretary Heather Wilson to relocate the F-22 Flight and Maintenance Formal Training Units (FTU) to Joint Base Langley-Eustis in Hampton Roads. Originally located at Tyndall Air Force Base in Florida, which was heavily damaged by Hurricane Michael in October of 2018, the squadron is being temporarily held at Eglin Air Force Base, awaiting a decision by Secretary Wilson as to where it will be housed permanently.

“Beyond the existing ramp space and infrastructure at Langley that would allow it to quickly receive aircraft at minimal additional cost, a decision to move the F-22 FTU to Langley would leverage a number of key benefits that Langley and the surrounding areas have,” said the members of Congress. “The Hampton Roads area has a long history of supporting our nation’s military and their families, and would provide strong recruiting and retention ability.”

“Additionally, the Virginia Air National Guard stands uniquely positioned to support the FTU, with experienced instructors and maintainers well versed on the platform,” they continued. “We ask that you give full consideration to Joint Base Langley-Eustis as a host to this mission.”

Built to accommodate three squadrons, Joint Base Langley-Eustis is currently underutilized, housing only two F-22 squadrons and supporting maintenance units. Moving the F-22 FTU would advance an important recommendation put forward by the Government Accountability Office, which has emphasized the need for improving aircraft availability by consolidating the fleet into larger squadrons or wings.

In addition to Sens. Warner and Kaine, the letter was signed by Reps. Bobby Scott, Robert Wittman, Gerry Connolly, Morgan Griffith, Don Beyer, A. Donald McEachin, Ben Cline, Elaine Luria, Abigail Spanberger, Denver Riggleman, and Jennifer Wexton.

The full text of the letter can be found here and below.

The Honorable Heather Wilson

Secretary of the Air Force

1670 Air Force Pentagon

Washington, DC 20330-1670

Dear Secretary Wilson:

In December 2018, you announced that the Air Force would conduct a Strategic Basing Process to determine the new location for the F-22 Flight and Maintenance Formal Training Units (FTU). As the Air Force looks to move this mission from Tyndall AFB, and its temporary location at Eglin AFB, we write to express our strong support for moving the mission to Joint Base Langley-Eustis.

While Joint Base Langley-Eustis currently has two F-22 squadrons, as well as supporting maintenance units, it was built for the beddown of three squadrons, thereby underutilizing the airspace and Air Force investment in ramp, hangar, and operations support facilities. The east coast Mid-Atlantic training ranges provide an excellent opportunity to train with other 4th and 5th generation aircraft in the region. Moving the F-22 FTU to Langley would advance one of the recommendations put forward by the Government Accountability Office regarding F-22 organization: the need for “consolidating the fleet into larger squadrons and/or wings in order to improve aircraft availability.”

Beyond the existing ramp space and infrastructure at Langley that would allow it to quickly receive aircraft at minimal additional cost, a decision to move the F-22 FTU to Langley would leverage a number of key benefits that Langley and the surrounding areas have. The Hampton Roads area has a long history of supporting our nation’s military and their families, and would provide strong recruiting and retention ability. Additionally, the Virginia Air National Guard stands uniquely positioned to support the FTU, with experienced instructors and maintainers well versed on the platform.

We ask that you give full consideration to Joint Base Langley-Eustis as a host to this mission. Please don’t hesitate to reach out for any additional information.

Thank you for your consideration.

Sincerely,

###

WASHINGTON – Sen. Mark R. Warner (D-VA) wrote to the Small Business Administration (SBA) today to express concern and solicit information on the backlog of loans created by the partial government shutdown. The 35-day lapse in appropriations jammed the approval process of SBA loans—a particularly alarming fact for Virginia, where 1.5 million individuals, nearly half of the Commonwealth’s employees, are employed by small businesses.

“I fear the fallout from the Administration’s 35-day shutdown will slow Virginia’s economic growth and innovation,” wrote Sen. Warner. “According to some estimates, the shutdown delayed about $2 billion in SBA lending and more than 300 small business loans per day. A backlog of loan applications could have a chilling effect on small businesses’ confidence, investment, and hiring.”

According to SBA’s shutdown contingency plan, more than 2,000 SBA positions were subject to furlough, freezing essential loan programs that allow individuals to start or expand businesses, make essential repairs and refinance debt. SBA loans are vital contributors to innovation and growth and have been used by the founders of companies like Under Armour, Chipotle and Apple to kick-start their businesses.

“News reports shared the stories of small business owners who had to cancel SBA-financed expansion plans because of the shutdown, as well as entrepreneurs who were unable to access SBA loans to open their businesses,” Sen. Warner continued.“Throughout the 35-day period, Americans hoping to obtain an SBA loan to start or expand their small business had to put their ambitions on hold — or turn to more costly capital alternatives— while they waited for the government to get its act together. I am deeply concerned with backlog left for SBA employees now that the shutdown is over, and other impacts the lapse in funding had on SBA’s vital functions.”

In his letter to SBA Administrator Linda McMahon, Sen. Warner asked for information in order to evaluate the shutdown’s lasting damage on small businesses. Specifically, he requested a list of all functions that were reduced or postponed. He also asked about the number of loan applications in the backlog and about SBA’s plan to address this backlog.

A PDF copy of the letter is available here and the text appears below.

January 31, 2019

Linda McMahon

Administrator

Small Business Administration

403 3^rd Street, SW

Washington, DC 20024

Dear Administrator McMahon:

I write to raise concerns with a potential backlog of Small Business Administration (SBA) loans created by the government shutdown. Virginia has over 680,000 small businesses, which collectively employ approximately 1.5 million Virginians, almost half of the Commonwealth’s employees.[1] The Commonwealth’s economy, like our nation’s economy, depends on our small businesses and entrepreneurs. I fear the fallout from the Administration’s 35-day shutdown will slow Virginia’s economic growth and innovation.

Support from the SBA has been a key contributor to our nation’s innovation leadership, providing early funding and resources to renowned companies such as Apple, HP, Intel, FedEx, and AOL in the early years.[2] Under Armour was started by founder Kevin Plank with the help of a small SBA loan at just 23 years old. Chipotle used a SBA loan to open a third store setting the food chain on a path to open more than 2,450 restaurants and to employ over 70,000 people.

According to SBA’s Lapse Appropriations Contingency Plan, over 2,000 positions at the agency were subject to furlough. Moreover, reports indicated that, during the shutdown, the SBA stopped approving routine small business loans upon which entrepreneurs and established firms depend. According to some estimates, the shutdown delayed about $2 billion in SBA lending and more than 300 small business loans per day. A backlog of loan applications could have a chilling effect on small businesses’ confidence, investment, and hiring.

For over a month, the reduced flow of capital put many small businesses in a precarious position. News reports shared the stories of small business owners who had to cancel SBA-financed expansion plans because of the shutdown, as well as entrepreneurs who were unable to access SBA loans to open their businesses. Throughout the 35-day period, Americans hoping to obtain an SBA loan to start or expand their small business had to put their ambitions on hold — or turn to more costly capital alternatives— while they waited for the government to get its act together.

I am deeply concerned with backlog left for SBA employees now that this shutdown is over, and other impacts the lapse in funding had on SBA’s vital functions. To assess the lasting damage that the shutdown has caused, please provide me with the following information:

1. A list of all SBA functions that were stopped or reduced during the lapse in funding.

2. The number of loan applications that are in the backlog.

3. How will SBA address the loan backlog that was created by this shutdown?

I appreciate the vital functions SBA provides to small businesses and entrepreneurs in Virginia and across the country. I hope the SBA can quickly dig out of the hole in which the Administration placed both your agency and our nation’s small businesses.

Thank you for your attention to this matter.

Sincerely,

###

[1] Small Business Administration, “Virginia Small Business Profile,” 2018, available at https://www.sba.gov/sites/default/files/advocacy/Virginia.pdf

[2] Small Business Administration, “SBIC Early Stage Initiative,” available at https://www.sba.gov/sites/default/files/articles/SBIC-Early-Stage-Initiative.pdf

WASHINGTON – Responding to changes in the economy and the nature of work, U.S. Sen. Mark R. Warner (D-VA) and Congressman Jim Himes (D-CT) today released a proposal for portable accounts that would make saving for retirement easier for American workers who can increasingly expect to work multiple jobs for multiple employers over the course of a career.

In a white paper, Sen. Warner and Rep. Himes put forward a proposal for a new type of retirement savings vehicle, the Portable Retirement and Investment Account (PRIA). The accounts – which would be universal for all Americans, and travel from job to job over the course of a lifetime in a workforce – would offer those workers who are not currently well-served by existing retirement programs a new avenue to save and manage their retirement assets. The accounts would not replace 401(k)s, IRAs, and other existing retirement accounts and would also make it easier for employees to consolidate their existing retirement accounts if they change jobs.

“Changes in the nature of work mean that Americans are more likely to change jobs and be engaged in non-traditional forms of work than they were a generation ago, but our policies haven’t kept up with these shifts. As more and more Americans can expect to hold multiple jobs across a career, a year, and even a day, we need to provide them with access to flexible, portable benefits such as retirement savings that will carry with them from employer to employer and gig to gig,” said Sen. Warner. “Input from stakeholders will be critical as we look towards developing functional solutions that will work for employers and employees alike.”

“Millions of Americans are not properly preparing for retirement and need a mechanism that makes it easier to save throughout their lives. To achieve this, Congress should create a portable retirement account that is personalized and independent from employment status. I’ve introduced a version in the House as a first draft and am grateful to Senator Warner in joining me to develop the idea further in a bicameral way. Today’s release of our white paper is a call to partnership for all interested parties who know our system isn’t working and are committed to fixing it,” said Rep. Himes. “With input from experts and stakeholders, we’ll be able to create a new, flexible and portable plan that will be an integral part of overcoming the challenges facing our retirement system.”

American workers are increasingly likely to hold several different jobs over the course of their careers. According to the Bureau of Labor Statistics, younger baby boomers held, on average, 12 jobs by the time they turned 50 – and current economic trends indicate that younger workers can expect to change jobs even more frequently. At the same time, fewer companies now offer traditional defined benefit pensions to their workers, and, whether by choice or necessity, a growing number of Americans are also engaged in alternative work arrangements that offer little or no access to retirement benefits. These trends all point to the need to offer workers a new option to save for their retirement in addition to or in lieu of traditional employer-based plans.

Sen. Warner and Rep. Himes are now seeking input from stakeholders regarding their proposal with an eye towards potential legislation. Submissions can be made to Sen. Warner’s office at PRIA@warner.senate.gov and to Rep. Himes’ office at Mark.Snyder@mail.house.gov by Friday, January 11.

###

WASHINGTON, D.C. – Today, U.S. Senators Mark R. Warner and Tim Kaine announced that the Department of Transportation is awarding the Port of Virginia $15,500,197 to increase terminal capacity at the Virginia Inland Port (VIP) in Front Royal. The Port of Virginia built the inland port 30 years ago to extend the reach of Virginia’s ports, help distribute commerce among both highways and railroads, and spur economic development for the entire region. The funding provided through the Better Utilizing Investment to Leverage Development (BUILD) Grant program, formerly known as the TIGER program, will be used to help optimize the flow of traffic inside the port gate through the addition of three long loading tracks, to lengthen existing loading tracks, to purchase two hybrid straddle carriers, and to construct a new highway bridge grade separation. The improvements will increase the Port’s capacity and its ability to safely handle the largest ships in the Atlantic.

“The Port of Virginia plays a critical role in the economy of the East Coast, and we’re proud to announce these dollars to ensure the entire system, both in Tidewater and in Front Royal, remains strong,” the Senators said. “The Virginia Inland Port moves goods and materials throughout the region, extending the economic benefits of the Port and helping to keep fewer trucks off of crowded roads like I-81. These funds will allow even more cargo to move through the facility, while also making much-needed safety improvements to support the hard working men and women at the Port.”

Warner and Kaine wrote to U.S. Secretary of Transportation Elaine Chao asking the Department to fund these improvements. As a direct result of the VIP facility opening in 1989, nearly 40 manufacturing and distribution centers have located in the region, creating roughly 8,000 direct and indirect jobs.

###

WASHINGTON – Today U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA) announced that the Appalachian Regional Commission (ARC) has approved $500,000 in grant funding for the Blue Ridge Discovery Center (BRDC), a non-profit organization dedicated to exploring, discovering, and sharing the natural history of the Blue Ridge Mountains.

The ARC funding will go towards renovating the former Luther Konnarock Training School that will serve as a location for educational programs centered on the biodiversity of the Mount Rogers National Recreation Area. Within three years of the project’s completion, BRDC expects to host 95 programs that will serve nearly 4,000 participants and receive more than 2,500 visitors annually.

“Southwest Virginia is known for its biodiversity and abundance of natural resources,” said the Senators. “We are pleased to announce these federal dollars that will increase local tourism and continue to spur economic opportunity.”

ARC project grants are awarded to local and state government entities and non-profits. The ARC funds are then matched by local funding sources. In addition to the ARC funds, local sources will provide $1,750,000, bringing the total project funding to $2,250,000.

Since its inception in 1965, ARC has generated more than 300,000 jobs and $10 billion for the 25 million Americans living in Appalachia. ARC has provided funding and support for job-creating community projects across the 13 Appalachian states, producing an average of $204 million in annual earnings for a region often challenged by economic underdevelopment. President Trump’s 2018 budget proposed eliminating the program entirely. Sens. Warner and Kaine have continued to advocate for a fully funded ARC so that it can continue to increase employment and economic opportunities for those living in Appalachia.

###

WASHINGTON – Today U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA) announced that the Appalachian Regional Commission (ARC) has approved $392,588 in grant funding to the Town of Narrows, Va.

The ARC funding will go towards a series of projects designed to improve the waterfront business district, including the development of a new multi-use 1,425 linear trail along Wolf Creek that will generate increased revenues to ten local businesses. Additionally, the funding will also help the town acquire a vacant warehouse to establish an outfitter post to spur recreational tourism.

“Southwest Virginia is known for its wide variety of outdoor recreation activities, which are an important economic driver for the region,” said the Senators. “We are pleased to announce these federal dollars that will increase local tourism and continue to spur economic opportunity.”

ARC project grants are awarded to local and state government entities and non-profits. The ARC funds are then matched by local funding sources. In addition to the ARC funds, local sources will provide $392,775, bringing the total project funding to $785,363.

###

WASHINGTON, D.C. – Today, U.S. Senators Mark Warner and Tim Kaine criticized President Trump for escalating the trade war with China by placing an additional $200 billion in tariffs on Chinese goods, which the Chinese government has recently matched with $60 billion in tariffs on American goods. The U.S. Chamber of Commerce has warned that this move will threaten an additional $899 million in Virginia exports. Warner and Kaine have long supported tougher trade negotiations, especially with countries like China that violate U.S. laws, but do not believe a trade war where Virginia farmers, manufacturers, and families pay the highest price is a responsible approach.

“Global trade wars threaten everything from Virginia’s emerging craft brewery industry to soybean farmers and now the coal fields. We have pushed President Trump for months to stop his foolish antics, form a coalition with like-minded allies he is currently alienating like Canada and Europe, and jointly confront China with a coordinated strategy to find an acceptable deal. This escalating trade war is going to cost many Virginians their jobs at a time when they will see rising prices for the goods they buy every day. While we agree that we should be targeting the theft of U.S. intellectual property by China, imposing across-the-board tariffs that stick hardworking American consumers with the costs is the wrong approach. Once again, we call on this Administration to stop using as collateral some of our most vital local industries in order to pursue a reckless and dangerous trade policy,” the Senators said.

According to the Chamber, Virginia’s hardest hit products from the new retaliatory Tariffs are:

Soybeans - $361 million of soybeans are exported annually to China. For a comprehensive list of Va. soybean production, click here.
Bituminous Coal (Not Agglomerated) - $105 million are exported annually to China
Corrugated Paper Waste (Scrap unbleached) - $50 million exported annually to China

For months, Warner and Kaine have spoken out against President Trump’s escalating trade war and encouraged substantive negotiations. The Virginia Department of Agriculture and Consumer Services (VDACS) has confirmed that China is the Commonwealth’s biggest export market for agricultural goods and suggested President Trump’s tariffs could hurt Virginia businesses and employees. President Trump has tweeted that “trade wars are good.”

###

WASHINGTON, D.C. – Today, U.S. Senators Mark Warner and Tim Kaine praised Marine Hydraulics International, Inc. in Norfolk for receiving $505,617 in federal funding to purchase rolling stock, forklifts, quay wall, and support operations.

“We are pleased that with this federal funding Marine Hydraulics will be able to purchase new equipment that can support their day-to-day operations and help the world’s largest naval station right here in Norfolk maintain the world-class fleet that keeps our country safe,” the Senators said.

The funding was awarded through the U.S. Department of Transportation’s Maritime Administration (MARAD)’s Small Shipyard Grant Program. This grant program helps support shipyards as they modernize operations, invest in emerging technologies, and improve efficiency. In a letter to the Senate Committee on Appropriations, Warner and Kaine called for strong funding to support the Small Shipyard Grant Program.

###

WASHINGTON – U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA) today announced $75,000 in federal funds from the U.S. Department of Agriculture to support small businesses and job creation in rural Southwest Virginia communities affected by changes in the coal industry. The funds were awarded to Virginia Community Capital, Inc., which will provide technical assistance – such as one-on-one counseling, education, and workshops – to a minimum of ten small businesses in order to help them succeed and grow.

“As the nation’s economy continues to recover, there is still a lot of work to do to ensure struggling communities aren’t left behind,”said the Senators. “That is why we’re pleased to announce these critical federal dollars to help small businesses in Southwest Virginia receive tools they need to thrive in a 21^st century economy.”

Today’s announcement is expected to result in the creation or retention of 15 jobs in rural communities that were impacted by a shift in coal production. The funding was awarded through the Rural Business Development Grant (RBDG) program at the U.S. Department of Agriculture, a competitive grant designed to support targeted technical assistance, training and other activities leading to the development or expansion of small businesses in rural areas.

As Governor, Warner help establish Virginia Community Capital (VCC) as a Community Development Financial Institution (CDFI) with an initial $15 million investment, with the goal of leveraging that initial investment for an economic return to underserved areas. Since its inception, VCC has grown that original investment into more than $1 billion in statewide impact, with VCC-financed projects creating or retaining more than 6,495 jobs across the Commonwealth. In the Senate, Sens. Warner and Kaine have pushed for federal dollars to support rural communities in Southwest Virginia, including fully funding the Appalachian Regional Commission and the Economic Development Administration.

###

Press Releases

May 08 2020

Apr 27 2020

Apr 17 2020

Apr 16 2020

Mar 25 2020

Mar 18 2020

Mar 17 2020

Feb 26 2020

Feb 13 2020

Oct 23 2019

Jul 17 2019

Jun 28 2019

Jun 06 2019

Apr 30 2019

Mar 28 2019

Feb 22 2019

Feb 15 2019

Jan 31 2019

Dec 07 2018

Dec 06 2018

Sep 26 2018

Sep 25 2018

Sep 18 2018

Aug 15 2018

Aug 15 2018