Dear Friend,

Small businesses in central Arkansas, and local economies across the United States continue to recover from the devastation that was the COVID-19 pandemic. They now face another threat from President Biden and House Democrats’, inflated and fiscally irresponsible unemployment benefits.

Instead of encouraging jobs to be filled, Democrats have disincentivized going back to work. They have made these benefits so appealing that it has disrupted labor markets across the country. This has hurt states like Arkansas so much so, that Governor Hutchinson has rejected further extending federal unemployment benefits.

The solution is simple and has been what Republicans were advocating for months ago: We need policies that encourage Americans to get back to work not policies that encourage dependence on the federal government.

MY BILL STOPPING AMERICAN DEPENDENCE ON CRITICAL MEDICAL SUPPLIES FROM CHINA PASSED THE HOUSE

Last week, the House unanimously passed my legislation, H.R. 3146, the Securing America’s Vaccines for Emergencies (SAVE) Act, by voice vote. The bill responds to the shortage of medical personal protective equipment (PPE) and other critical medical supplies at the start of the COVID-19 pandemic and protects medical supplies for the future by bolstering our supply chain during times of crisis. My bill will ensure we will not have to rely on foreign countries, like China, for PPE in emergency situations.

At the beginning of the pandemic, our supply chains were tested like never before. My bill, will make certain we will not have to face that challenge again should another test arise in the future.

NEED HELP PAYING RENT?

The Arkansas Rent Relief Program kicked off recently to help struggling central Arkansans during this difficult time. This funding came from the CARES Act that I supported last year.

The Arkansas Rent Relief Program offers financial help to pay overdue and upcoming rent and utilities for eligible Arkansas renters. Landlords who have tenants unable to pay their rent because of lost income or the pandemic can apply for some of the $173 million of federal funding for the program. Once an application is approved, money would go directly to landlords and utilities companies.

To be eligible, Arkansas renters must:

Have someone in your home who qualifies for unemployment benefits OR

Your household income must have decreased during the pandemic OR

Someone in your home has suffered significant financial hardship due to the pandemic (i.e. lost a job, has extensive medical bills)

AND

You must meet income eligibility requirements based on your residing county, and number of people in your home.

To learn more please visit the Arkansas Department of Human Services website.

IGNITE HBCU EXCELLENCE ACT INTRODUCTION

Arkansas is home to four Historically Black Colleges and Universities (HBCUs). As Co-Chair of the HBCU Caucus along with Co-Founder and Co-Chair Congresswoman Alma Adams (D-NC), I joined fellow HBCU Caucus co-chair Senator Chris Coons (D-DE) and Rep. Adams for a press conference on the introduction of our bill, the bipartisan Institutional Grants for New Infrastructure, Technology, and Education (IGNITE) for HBCU Excellence Act.

The incredible success of HBCUs has been achieved despite over a century of public and private underfunding. Too often, HBCUs are forced to navigate the effects of that underfunding while also lacking access to alternate sources of capital available to other institutions. This bill encourages private and philanthropic support for HBCUs and is a major investment into addressing their critical needs. If you’d like to learn more about the bill, here is a summary.

REINTRODUCING THE FAIR INVESTMENT OPPORTUNITIES FOR PROFESSIONAL EXPERTS ACT

Small businesses and emerging startups in central Arkansas play a significant role as drivers of our nation’s economic activity, innovation, and job creation. Their capacity to raise capital in the private markets is critical to the economic well-being of the United States. Therefore, the ability to participate in a private offering should not be limited to individuals that can pass an arbitrary wealth test set by the government and, instead, should be afforded to individuals that demonstrate professional expertise and a strong understanding of the offering. This will provide both greater investment opportunities for more Americans and will enable entrepreneurs to create more jobs.

My bill, the Fair Investment Opportunities for Professional Experts Act, introduced with Congressman David Schweikert (R-AZ), expands the definition of an “accredited investor” to allow access to private offerings for individuals who have demonstrated an understanding of the subject matter related to the offering.

Due to significant costs and barriers to raising capital in the United States public markets, most small companies raise start-up or expansion funds in the private market, where most offerings are limited to “accredited investors.” The current “accredited investor” definition focuses only on the financial status of the investor, and as a result, participation in private offerings is limited, barring the majority of Americans from what may be attractive investment opportunities.

Sincerely,

Representative French Hill