PPI - Radically Pragmatic
  • Donate
Skip to content
  • Home
  • About
    • About Us
    • Locations
    • Careers
  • People
  • Projects
  • Our Work
  • Events
  • Donate

Our Work

Statement: New Business Preservation Act Provides Much Needed Capital to Startups

  • March 19, 2020
  • The Progressive Policy Institute

Today, Senators Amy Klobuchar (D-MN), Chris Coons (D-DE), Tim Kaine (D-VA), and Angus King (I-ME) introduced the New Business Preservation Act. The legislation would  create an Innovation and Startups Equity Investment Program in partnership with states and private investors, providing vital capital during the coronavirus pandemic to new startups.

Startups play a critical role in the American economy, powering productivity gains and creating nearly 3 million jobs annually. Unfortunately, due to their nature, many new businesses do not have adequate assets on hand to survive an emergency such as coronavirus, with an average time to turn a profit of nearly three years.

The New Business Preservation Act would provide much needed financial resources to startups during the pandemic. Specifically, the New Business Preservation Act would allocate an initial $2 billion to the program for participating states to invest alongside private venture capital companies in new businesses outside of the Silicon Valley, New York, and Boston venture capital hubs. Importantly, special consideration is given to businesses created by women and persons of color, who face additional barriers in accessing investment capital.

As the U.S. economy continues to suffer due to the coronavirus pandemic, the New Business Preservation Act provides relief to America’s startups. The Progressive Policy Institute urges Congress to swiftly pass this legislation.

Related Work

Budget Breakdown  |  July 3, 2025

Passage of ‘One Big Beautiful Bill’ Renders Republican Deficit Hawks Extinct

  • Ben Ritz Alex Kilander
Blog  |  July 2, 2025

Senate Republicans Go Nuclear to Blow Up the National Debt

  • Ben Ritz
Press Release  |  July 2, 2025

New PPI Report Asserts Democrats Must Reclaim Obama’s Vision of American Identity

  • Ian Reifowitz
Publication  |  July 1, 2025

How Democrats Lost Sight of Obama’s Vision of National Identity

  • Ian Reifowitz
Op-Ed  |  June 19, 2025

Ainsley for the New York Times: A Progressive Future Depends on National Identity

  • Claire Ainsley
In the News  |  June 13, 2025

Ainsley on ABC Radio National: Lessons for Global Centre-Left Parties from Labor’s Win

  • Claire Ainsley
  • Never miss an update:

  • Subscribe to our newsletter
PPI Logo
  • Twitter
  • LinkedIn
  • Facebook
  • Donate
  • Careers
  • © 2025 Progressive Policy Institute. All Rights Reserved.
  • |
  • Privacy Policy
  • |
  • Privacy Settings