Bill Overview
Title: Rural Investment in America Act
Description: This bill authorizes the Small Business Administration to make loans for certain costs to businesses that manufacture goods essential to critical infrastructure sectors in rural areas. Businesses that meet at least 75% of their job creation goals under such loans may receive partial loan forgiveness.
Sponsors: Rep. Davis, Rodney [R-IL-13]
Target Audience
Population: People living in rural areas where businesses benefit from critical infrastructure investments
Estimated Size: 57000000
- The bill focuses on businesses in rural areas, specifically those involved in manufacturing goods essential to critical infrastructure.
- Only businesses located in rural areas are eligible for the loans provided by the bill.
- The employees of these businesses may indirectly be impacted as the businesses could potentially expand or stabilize, affecting employment.
- Residents of rural areas could benefit from improved infrastructure and job opportunities as a result of the investments.
Reasoning
- The policy targets rural businesses involved in manufacturing goods key to infrastructure, affecting both the businesses and their communities.
- A portion of the population, those in rural areas, especially in manufacturing sectors, will see more direct impacts.
- Budget considerations limit the scale of the policy, but it can significantly boost smaller rural economies by aiding key businesses.
Simulated Interviews
Factory Manager (Ely, Nevada)
Age: 45 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 4/20
Statement of Opinion:
- I hope this policy will help ensure my job's security.
- The partial loan forgiveness sounds promising for expansion plans.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 5 |
| Year 2 | 7 | 5 |
| Year 3 | 8 | 4 |
| Year 5 | 8 | 4 |
| Year 10 | 9 | 4 |
| Year 20 | 8 | 3 |
Line Worker (Keysville, Georgia)
Age: 34 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 5.0 years
Commonness: 6/20
Statement of Opinion:
- If the local business thrives, we might get raises or more hours.
- I'm not sure how much this will directly affect us workers.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 7 | 5 |
| Year 5 | 7 | 4 |
| Year 10 | 6 | 4 |
| Year 20 | 5 | 3 |
Local Government Official (Holland, Michigan)
Age: 50 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 2/20
Statement of Opinion:
- This helps us support local businesses which is crucial.
- Resources for critical infrastructures are always a plus.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 8 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 9 | 6 |
| Year 10 | 9 | 6 |
| Year 20 | 8 | 5 |
Entrepreneur (Limon, Colorado)
Age: 28 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 20.0 years
Commonness: 3/20
Statement of Opinion:
- With the loan, I can expand faster and hire more.
- It could really change the scale of my business.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 5 |
| Year 2 | 8 | 5 |
| Year 3 | 9 | 5 |
| Year 5 | 9 | 4 |
| Year 10 | 9 | 4 |
| Year 20 | 8 | 4 |
Retired Farmer (Talbotton, Georgia)
Age: 62 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 8/20
Statement of Opinion:
- Improving businesses here means better facilities and services for us residents.
- I see this as a positive move although indirectly beneficial to me.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 7 | 5 |
| Year 20 | 6 | 5 |
Agricultural Analyst (Prosser, Washington)
Age: 39 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 5/20
Statement of Opinion:
- The act encourages the development we've been needing.
- It supports sustainable growth.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 8 | 5 |
| Year 10 | 8 | 5 |
| Year 20 | 7 | 5 |
Manufacturing Technician (Twisp, Washington)
Age: 25 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 5.0 years
Commonness: 7/20
Statement of Opinion:
- It'd be nice if this helps bring in some modern tech here.
- I'm optimistic about these kinds of policies.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 7 | 5 |
| Year 3 | 8 | 5 |
| Year 5 | 8 | 4 |
| Year 10 | 7 | 4 |
| Year 20 | 6 | 3 |
Small Business Owner (Warsaw, Missouri)
Age: 56 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 20.0 years
Commonness: 9/20
Statement of Opinion:
- The loan would be instrumental in expanding our capacity.
- This could significantly impact our sales in the long term.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 7 | 5 |
| Year 3 | 8 | 4 |
| Year 5 | 9 | 4 |
| Year 10 | 8 | 4 |
| Year 20 | 6 | 3 |
Teacher (Torrington, Wyoming)
Age: 30 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 10/20
Statement of Opinion:
- Any business growth around here can mean more for community resources.
- I'm hopeful this reflects positively on our education system too.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 7 | 6 |
| Year 10 | 6 | 5 |
| Year 20 | 6 | 5 |
Regional Supply Chain Manager (Corrigan, Texas)
Age: 47 | Gender: male
Wellbeing Before Policy: 8
Duration of Impact: 20.0 years
Commonness: 1/20
Statement of Opinion:
- This should bolster the whole supply chain and improve our operations.
- It's exactly the type of policy we need for long-term growth.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 9 | 8 |
| Year 3 | 9 | 8 |
| Year 5 | 9 | 7 |
| Year 10 | 9 | 7 |
| Year 20 | 9 | 6 |
Cost Estimates
Year 1: $350000000 (Low: $300000000, High: $400000000)
Year 2: $375000000 (Low: $325000000, High: $425000000)
Year 3: $400000000 (Low: $350000000, High: $450000000)
Year 5: $425000000 (Low: $375000000, High: $475000000)
Year 10: $0 (Low: $0, High: $0)
Year 100: $0 (Low: $0, High: $0)
Key Considerations
- The administrative costs and potential loan defaults can affect overall cost estimation.
- The partial loan forgiveness provisions need clear guidelines to estimate impact accurately.
- Long-term economic benefits in rural areas can potentially offset some initial costs.