Bipartisan Support Builds for Employee Retention Tax Credit Expansion
Legislation included in House-passed Heroes Act would help 6.1 million businesses keep 60 million workers connected to their jobs, so they continue to receive a paycheck and health insurance
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) continues to gain bipartisan momentum. The measure would enhance the employee retention tax credit (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. It is estimated that ERTC expansion will help 6.1 million businesses keep 60 million workers tethered to their jobs.
“With already historic levels of unemployment, we need to stop mass layoffs during this crisis. This bipartisan plan, which is the central jobs protection provision of the Heroes Act, is the most efficient way to keep workers on payroll and receiving their benefits,” said DelBene. “This proposal does not create a new program to administer, new forms to fill out, or extended waiting period before relief comes in the door. Business are already using this program and will be able to immediately take advantage of it once it is expanded. I urge the Senate and the Trump administration to come to the table immediately to reach a bipartisan deal to support workers and businesses.”