Washington, D.C. (March 27, 2020)— Today, President Trump signed the much needed CARES Act, an emergency rescue package that includes provisions to keep small businesses afloat during the economic downturn caused by the coronavirus outbreak, as well as better position them for a strong rebound down the road.
“On behalf of the 30 million small business owners and their 60 million employees across America, Job Creators Network would like to thank President Trump and leaders in Congress for making this moment a reality. The relief provided by the now-enacted economic stimulus package signed by President Trump today will bring relief and hope to small businesses, which are the engine of the American economy. This isn’t a bailout for small business and its employees; it’s a lifeline. The new law is a terrific start, but more will be required soon to keep small businesses afloat. JCN believes that Congress and the Trump Administration should advance a short-term, targeted payroll tax cut for businesses with fewer than a hundred employees. This measure would provide the kind of relief local businesses need to overcome the financial hardships imposed by the spread of the coronavirus. The cut should apply through the end of the year and would benefit both employers and workers alike. Now is the time to go all in on helping small businesses not only survive this crisis but prepare for the massive Main Street recovery to come.”