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Support Workers, Not Wall Street
That is the bill my staff is drafting right now to deal with #coronavirus #COVID19.
We can’t afford to pander to lobbyists and bureaucrats in boardrooms on Wall Street. No corporate bailouts! We MUST help those working for us everyday.
Support Small Businesses How? 1) Low-to-zero interest loans for 60-90 days. The loans should be available to all businesses – we should not pick + choose winners and losers. We must work w/ banks to provide federally guaranteed loans to small business for the next 60-90 days.
2) Expanded SBA loan authority. We need money in the hands of those employing millions of Americans so they can bridge the gap. It does no good to mandate “paid leave” from a job that doesn’t exist because the business went under. Let’s be smart about it.
3) Delay tax payments for Q1 and Q2. 4) Give employee retention credit worth 40 percent of wages (up to $6,000 of qualified wages per employee) paid by a qualified employer to an employee, for a maximum credit of $2,400. You shouldn’t be punished for keeping good employees.
5) Allow businesses to defer a portion of their 2020 federal tax liability, to be paid ratably over the following five tax years.
Support Workers 1) For those who are missing work or experiencing reduced hours due to the virus, we will use funds under Unemployment Insurance to get cash to workers NOW. 2) Extend tax deadline to July 15.
Appreciate you.....the "Mr. Smith goes to Washington"....glad someone is looking out for the little guys who make the country run.
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