Washington, DC – (May 21, 2020) — New data released by the Department of Labor reveals the number of first-time unemployment claims was 2.43 million last week. During the past nine weeks, about 39 million Americans have lost their jobs.
“PPP loans continue to make a positive impact, reducing the number of jobless claims slightly over the past few weeks. However, Congress and the Administration need to take further action to get Americans back to work. JCN has called on the Administration to adjust the eight-week loan forgiveness clock for PPP loans so it starts when businesses, in their respective industries and in their respective states, regions or municipalities are allowed to open at 100 percent capacity. Additionally, we’re calling on the Senate to pass a temporary payroll tax cut targeted specifically for businesses with under 100 workers. If the Senate passes a temporary and targeted payroll tax cut, it will enter its Phase 4 negotiations with the House with a stronger hand. Our small businesses don’t need a $3 trillion left-wing wish list, but we do need a temporary and targeted payroll tax cut.”
Today, JCN ran an ad in the Wall Street Journal with the headline, “Dr. Fauci, We’d Like a Second Opinion” (to see the ad, click here). The ad consists of a letter to Dr. Anthony Fauci, Director of the National Institute of Allergy and Infectious Diseases, urging him to consider the voices of other medical professionals who are raising the alarm about the broader negative health consequences of the lockdown.
This week, the Wall Street Journal quoted Mr. Ortiz about the need to extend the loan forgiveness clock. To read the article, click here.
To read JCN’s letter to congressional leaders calling for a temporary and targeted payroll tax cut, click here.