Michael R. Strain, Columnist

How to Make Sure the Small-Business Bailout Works

There’s a grant and loan program that can prevent a lot of layoffs. It needs to be strengthened and relentlessly publicized.

April 1, 2020 at 3:00 PM UTC

By Michael R. Strain

Michael R. Strain is a Bloomberg Opinion columnist. He is director of economic policy studies and Arthur F. Burns Scholar in Political Economy at the American Enterprise Institute. He is the author of “The American Dream Is Not Dead: (But Populism Could Kill It).”

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Small businesses are in trouble. As the coronavirus spreads and more states close up restaurants, cafes, theaters, clothing stores, beauty salons and similar shops, small businesses are desperate for funds to avoid laying off their workers. Fortunately, the relief package signed by President Donald Trump last Friday is set to provide businesses some of the help they need.

But the law’s passage isn’t the end of the story. Now, it needs to be put into effect in a way that encourages its use.