Section 1 Short title
This Act may be cited as the “Ensuring Economic Recovery Act”.
Ensuring Economic Recovery Act
A BILL
To require the Administrator of the Small Business Administration to report on small business recovery and the impact of an hourly Federal minimum wage increase, and for other purposes.
Sec. 2 Small Business Administration reports on small business recovery and the impact of an hourly Federal minimum wage increase
Initial report— Not later than 180 days after the date of the enactment of this Act, the Administrator of the Small Business Administration shall submit to the Committee on Small Business of the House of Representatives and the Committee on Small Business and Entrepreneurship of the Senate a report on the recovery of small business concerns (as defined under section 3 of the Small Business Act (15 U.S.C. 632)) from the coronavirus pandemic, including the effects of an increase in the Federal minimum hourly wage to $15—
disaggregated by industry; and
on such concerns that have less than 500 employees.
Subsequent report— Not later than 180 days after the date on which a law is enacted that proposes increasing the Federal minimum hourly wage to $15 or greater, the Administrator of the Small Business Administration shall submit to the Committee on Small Business of the House of Representatives and the Committee on Small Business and Entrepreneurship of the Senate a study on the effect of such an increase on small business concerns as compared to small business concerns that pay the current minimum wage. Such report shall include—
an analysis of the net effect on prices, or costs of goods or services, provided by such concerns, disaggregated by industry;
a description of the change in levels of employment and work hours, including any changes in the age of employees and in the number of part-time employees;
the total number of job losses associated with the increase to the Federal minimum hourly wage, as reported by such concerns; and
an analysis of any increase in automation associated with such increase.