Washington, DC (August 13, 2020) — New data released by the Department of Labor reveals the number of first-time unemployment claims was 963,000 last week.
“Led by President Trump and our small business community, America is rapidly moving in the right direction. For the first time in 21 weeks, the number of first-time jobless jobless claims was under one million. Since the pandemic peaked in April, over nine million Americans have regained their jobs. The biggest reason is the Paycheck Protection Program, a bipartisan success story that saved 51 million jobs but expired on August 8. With negotiations over a stimulus bill deadlocked, Congress should pass a standalone bill renewing the PPP. Additionally, Congress should provide certainty by codifying the President’s executive order suspending the payroll tax into legislation. Otherwise, if Joe Biden is elected President, he will force everyone to pay the money back – which would effectively be a tax hike during a time of economic distress. Last but not least, Congress should pass liability protection against Covid-related frivolous lawsuits.”
On July 17, JCN sent a letter to Senate leaders urging them to support a payroll tax holiday. To read the letter, click here.