ISSA Supports JOBS Credit ActJune 16, 2020
ISSA has joined 128 organizations representing millions of workers and employers throughout the country to support the Jumpstarting Our Businesses’ Success Credit (JOBS Credit) Act of 2020 (H.R. 6776). The organizations also thanked U.S. Representatives Stephanie Murphy (D-FL) and John Katko (R-NY) for their bipartisan leadership on H.R. 6776. If enacted, the JOBSCredit Act would make several improvements to the Employee Retention Tax Credit (ERTC) and better fulfill the ERTC goal of keeping workers connected to their jobs during the COVID-19 pandemic.
The letter explains that the JOBS Credit Act would enhance the ERTC provision included in the Coronavirus Aid, Relief, and Economic Security (CARES) Act (P.L. 116-136 (Section 2301) by, for example:
- Expanding the credit percentage from 50% to 80% of qualified wages
- Increasing the per-employee limitation from US$10,000 for all calendar quarters to $15,000 per calendar quarter (and an aggregate of $45,000 for all calendar quarters)
- Creating a phased-in credit, which would allow employers with more than a 20% decline in gross receipts to be eligible for a portion of the credit
- Improving coordination between the ERTC and the Paycheck Protection Program (PPP) so that employers could be eligible for both programs, but with guardrails in place to prevent double dipping.
A similar letter will be sent to the leadership of the U.S. House of Representatives and U.S. Senate expressing support for H.R. 6776 and requesting that the JOBS Credit Act be included in a future legislative package addressing COVID-19 and the economic harm caused by the pandemic.
“An expansion of the ERTC is warranted so that cleaning-related companies can continue to retain employees and pay their healthcare benefits until more robust consumer spending returns,” said John Nothdurft, ISSA Director of Government Affairs. “The enhancements to the credit contained in the JOBS Credit Act will help our member businesses and their employees even more and we urge Congress to include these enhancements in future legislation enacted to address the COVID-19 pandemic.”
ISSA is working diligently to support the full spectrum of the cleaning industry in the U.S. and worldwide during the COVID-19 pandemic, including providing a variety of government affairs resources to support its members during this challenging time. For questions regarding ISSA’s advocacy efforts, including the association’s response to COVID-19, please contact [email protected].