“[L]Local governments are well positioned to provide short-term economic assistance, ”said an article by Joseph Parilla for Brookings, which is responsible for federal and state levels of government in critical areas of economic stabilization.
“Protecting workers is a critical first step in any city-level economic stabilization plan,” said Parilla, who lists efforts in Washington, DC, California and Washington to take out unemployment insurance for workers who are not working due to quarantine or housing can place orders.
“The second major political response from cities was stabilizing small businesses,” added Parilla. Examples of Parilla’s small business stabilization include Seattle’s move to defer corporate and crew taxes for eligible companies, expand the small business stabilization fund, and “provide technical support to business owners seeking relief from the US Small Business Administration.” .
The key to all local efforts and parilla lists in the source article is the need to move forward quickly. “According to the JPMorgan Chase Institute47% of small businesses have less than two weeks of liquidity, with restaurants and retail operating the least. ”
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