Source: Press release from the office of Congresswoman Stephanie Murphy
June 8, 2020
WASHINGTON—A bipartisan bill introduced by U.S. Representatives Stephanie Murphy, D-Fla., John Katko, R-N.Y., Suzan DelBene, D-Wash., Brian Fitzpatrick, R-Pa., and Chris Pappas, D-N.H., to prevent layoffs by expanding the employee retention tax credit (ERTC) is gaining momentum among small businesses and key industry leaders. The measure would enhance the ERTC, which incentivizes businesses of all sizes to retain their employees in active or furloughed status, rather than laying them off, so they continue to receive a paycheck, employer-sponsored health insurance, and other benefits. The ERTC expansion will help 6.1 million businesses keep 60 million workers tethered to their jobs, according to the Joint Committee on Taxation (JCT).
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ERTC expansion is also supported by the American Hotel and Lodging Association, the Asian American Hotel Owners Association, Associated General Contractors, the Latino Hotel Association, the National Apartment Association, the National Association of Black Hotel Owners, Operators & Developers, the National Association of Manufacturers, the National Federation of Independent Business, the National Multifamily Housing Council, and a consortium of 22 non-profit education organizations.
