The Toll Extreme Weather Takes on Small Business and the Economy
Publisher: Small Business Majority
Published: March 4, 2014
As the U.S. continues to suffer from bouts of extreme weather, including record storms across much of the country and droughts in the West, small employers are feeling the strain. “The Toll Extreme Weather Takes on Small Business & the Economy,” provides a number of legislative actions policymakers can take to help small businesses better weather these extreme events, and mitigate the effects of climate change that causes them.
Figure 1: Losses due to disasters worldwide (1980–2012)
Key policy Recommendations
- Congress should pass the Sensible Accounting to Value Energy (SAVE) Act: The SAVE Act would instruct federal loan agencies to assess a borrower’s expected energy costs when financing a house.
- Lawmakers should enact the Strengthening the Resiliency of our Nation on the Ground (STRONG) Act: This legislation would build upon existing extreme weather resiliency efforts to provide state and local planners with the tools and information they need to develop and improve local extreme weather resiliency efforts.
- Congress should pass the Energy Savings and Industrial Competitiveness Act: Small business owners want to see Congress enact the Energy Savings and Industrial Competitiveness Act (or Shaheen-Portman bill), which would promote energy conservation and cut energy waste.
- The Small Business Administration should assess the effects of climate change on the small business community: We need more information about the effects of climate change and extreme weather on the small business community to better educate small employers and lawmakers on this issue.
Downloads: The Toll Extreme Weather Takes on Small Business and the Economy