Hearing of the House Small Business Committee - Paycheck Protection Program and the Gaming Industry

Hearing

The Congressman's full remarks can be read below:

Thank you to the Members of the Small Business Committee, and to the staff for keeping us safe. I want to thank you for allowing me to address an issue that is important to Nevada, but also one that affects businesses in 43 states in our country.

The gaming industry is vital to local small businesses; it supports more than 350,000 small business jobs and delivers $52 billion annually in small business revenue, including construction, manufacturing, retail, and wholesale firms. In many states, especially in my home state of Nevada, gaming contributes significantly to our state's budget with $10.7 billion in gaming taxes and tribal revenue share payments.

However, in light of COVID-19, commercial and tribal casino properties have been forced to close their doors. And while many small businesses are able to participate in the Paycheck Protection Program, which Congress has provided over $660 billion in relief, the Small Business Administration (SBA) has used unfair and, I would say, discriminatory guidance and has stated that small gaming businesses that have a portion of gaming revenue are precluded from receiving any of these funds. This is outrageous.

Nevada currently is ranked 43rd out of 50 states in the amount of funding received from PPP. We have over 8700 businesses that have received funding for these loans, but disproportionately, restaurants, small taverns and other local businesses are not even eligible to apply and therefore Nevada is left out. On top of that, minority, women and Veteran-owned businesses have not gotten an equal share of the funding either. So while I am voting for this bill today, I call on this committee to join with me and the members of our delegation to fix this issue that prohibits gaming businesses from getting their share of the money, and I'm asking you, Mr. Chairman, to work with us while we address this issue, not just for Nevada, but for all of the United States.

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