Congressman Dan Goldman Works to Mitigate Damages Caused by Extreme Weather Power Outages
The ‘Prolonged Power Outage Relief Act’ Would Unlock Federal Aid for Small Businesses and Households that Experience Power Outages
Read the Bill Here
Washington, DC – Congressman Dan Goldman (NY-10) joined Congresswoman Haley Stevens (MI-11) in introducing the ‘Prolonged Power Outage Relief Act,’ which would enable individuals and small businesses to qualify for various low-interest loans to recover losses from a power outage. Specifically, it would permit the declaration of a disaster when at least 25 homes or businesses in a community lose power for more than 48 hours, making those affected eligible for assistance.
“As far too many New Yorkers know firsthand, prolonged power outages can cause thousands of dollars in damage to our homes and our small businesses,” Congressman Dan Goldman said. “As the impacts of climate change intensify, it is imperative that we offer support to our neighbors during prolongedpower outages. Last summer, there were numerous instances of heavy rains causing flooding and power outages in NY-10. Our government must have the ability to respond quickly and effectively to these crises so our communities can bounce back and prevent long-term negative impacts.”
The ‘Prolonged Power Outage Relief Act’ amends the Small Business Act to classify prolonged power outages as a disaster. This enables access to various forms of federal assistance:
Real Property Disaster Loans: Up to $500,000 for households to repair or restore their primary residence.
Personal Property Disaster Loans: Up to $100,000 for homeowners and renters to repair or replace personal property.
Physical Disaster Business Loans: Up to $2 million for businesses and nonprofits to repair or replace uninsured or underinsured physical property damages.
Economic Injury Disaster Loans (EIDLs): Up to $2 million for small businesses, nonprofits, and small agricultural cooperatives to address substantial economic injury, cover working capital, and resume normal operations.
Congressman Dan Goldman is committed to ensuring the resilience and sustainability of small businesses.
Congressman Goldman has cosponsored the ‘Providing Resources for Emergency Preparedness and Resilient Enterprises (PREPARE) Act,’ which would create a Small Business Administration (SBA) Pre-Disaster Mitigation Loan Program to help small businesses take preventative action to bolster their resiliency infrastructure in preparation for future flooding events.
In April, Goldman convened a Small Business Roundtable to provide resources for small business owners, discuss the Inflation Reduction Act’s impact on small businesses, and answer questions from business owners on how his office and various other agencies can support them.
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