Rep. Gallagher Supports PPP Deduction, Liability Protection in Next Coronavirus Recovery Relief Bill
As part of NFIB’s Virtual Fly-In, Rep. Mike Gallagher told Wisconsin small business owners that it’s been a tumultuous few months and Congress has been tested.
Rep. Gallagher told members that the House and Senate are trillions apart in the next round of funding, which he thinks should include liability protections and reduced federal unemployment benefits. Unfortunately, that is a huge sticking point right now.
Rep. Gallagher was critical of the President’s executive orders. He told NFIB members that he thinks it sets a dangerous precedent and that all action should come from Congress, which shouldn’t have to pass legislation from the sidelines.
Gallagher also told members that it’s time for the House to be back in session. The Senate HEALS Act is a start, he says, it’s the ground for bargaining. The Representative says the next legislation needs to target the small businesses who are barely surviving and get them more funding. He also believes Congress should be giving tax credits to businesses that are investing in COVID protections for their employees and customers.
Rep. Gallagher thinks the President’s Executive Orders make it less likely that there is a compromise for the fourth stimulus bill anytime soon. “The House has passed their version so it’s easy for them to say they did something and blame inaction on Republicans. The closer we get to the election, the less likely it becomes that a bill will pass” says Gallagher.
Rep. Gallagher heard concerns from a Wisconsin small business owner who shared his story about what a lifeline the Paycheck Protection Program has been for him and his small business, a supper club in the Madison area. He’s afraid that if his expenses are taxable it will be just enough to put small business owners like himself out of business for good. Rep. Gallagher expressed his support for deductibility of PPP loans and the Expense Protection Act.
Rep. Gallagher also expressed his support to do what he could to work with the Senate to get the Corporate Transparency Act off the table, acknowledging the paperwork and regulation headaches it would mean for small business owners.
“The last five months have been a crucible for small business and the country got punched in the gut. However, in Northeast Wisconsin I’ve heard lots of tales of Wisconsinites who have adapted. I sense that there is a hunger to get back to work and get the economy back on track. This has been the most expensive experiment in history. Working is part of Wisconsin’s identity and we need that preserve that. The small business owners who are struggling have been my sanity check through these unprecedented and scary times,” said Gallagher.