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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - Senate

Short Title(s) as Introduced

Saving Our Street Act

Official Titles

Official Titles - Senate

Official Titles as Introduced

A bill to permit the Secretary of the Treasury to provide direct funding to certain entities.


Actions Overview (1)

Date Actions Overview
06/23/2020Introduced in Senate

All Actions (1)

Date All Actions
06/23/2020Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Action By: Senate

Cosponsors (7)

* = Original cosponsor
CosponsorDate Cosponsored
Sen. Gillibrand, Kirsten E. [D-NY]* 06/23/2020
Sen. Wyden, Ron [D-OR]* 06/23/2020
Sen. Markey, Edward J. [D-MA]* 06/23/2020
Sen. Klobuchar, Amy [D-MN]* 06/23/2020
Sen. Warren, Elizabeth [D-MA]* 06/23/2020
Sen. Duckworth, Tammy [D-IL]* 06/23/2020
Sen. Reed, Jack [D-RI]* 06/23/2020

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Related Documents
Senate Banking, Housing, and Urban Affairs06/23/2020 Referred to

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Latest Summary (1)

There is one summary for S.4047. View summaries

Shown Here:
Introduced in Senate (06/23/2020)

Saving Our Street Act

This bill establishes and provides funding for the Microbusiness Assistance Fund through which the Department of the Treasury must provide grants to specified small entities.

Specifically, the bill provides $125 billion for grants to entities such as community small businesses and nonprofits that have suffered a drop in revenue of over 20% during the COVID-19 (i.e., coronavirus disease 2019) pandemic. Such a grant shall not exceed $250,000 and may only be used for certain purposes, including (1) rehiring or hiring furloughed employees; (2) payment of compensation, rent or mortgage, utilities, or insurance; and (3) providing health care and benefits to employees.

Treasury is prohibited from denying a grant on the basis of any criminal history or involvement with the criminal legal system. Further, Treasury must give priority to people of color, veterans, women-owned community businesses, and socially and economically disadvantaged individuals, and 75% of appropriated amounts shall be provided to businesses or nonprofits owned or controlled by one or more socially and economically disadvantaged individuals.