Grassroots Push for Second-Round U.S. Stimulus
Updated: Sep 14, 2020
SDA and DLI are asking all U.S. professional cleaners to urge their elected representative to support a new stimulus package for small businesses. Please copy the sample text below and paste it into this website that will automatically determine your representatives by your ZIP code. Please feel free to alter the text as you see fit.
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Thank you for your service to our community. As your constituent, I am writing to ask you to support another stimulus package for small business.
The drycleaning and laundry industry has suffered tremendously as it has taken longer than anyone expected for states to reopen and businesses to return to work. Consumers are not yet comfortable going out to dinner, going to church, having weddings and social events—all the activities that contribute to our business livelihood. When you couple that with the tremendous number of companies closing office buildings and mandating employees work from home and remotely wherever possible, you can imagine the financial devastation our industry is suffering and how long the recovery is going to take. Like many small business, we need help to survive.
I ask you to support measures that build on the success of the PPP by enacting a second round of application eligibility to initial eight-week loan recipients and make other changes to help extend and sustain this successful program. Make PPP loans tax deductible so that small businesses can deduct eligible expenses paid with a forgiven PPP loan, and eliminate the substantial tax liability many face for taking these loans in the first place. And for those small businesses that received PPP funding less than $150,000 and used the money as intended, make the forgiveness automatic.
To review, I am asking specifically for you to support:
A new round of funding (P4) for those businesses who previously got a PPP loan, especially for those in the first batch before the rules changed which really diminished the effectiveness
Make PPP loans tax deductible so that small businesses can deduct eligible expenses paid with a forgiven PPP loan, and eliminate the substantial tax liability many face for taking these loans in the first place.
Provide for automatic forgiveness for all PPP loans under $150,000 provided funds are spent on allowable expenses and with the appropriate ratio. Allow use of the Form 3508EZ for loans greater than $150,000 provided the funds are spent appropriately and the business can document business activity less than 50%.
Thank you again for your service.
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