Washington, D.C. (March 11, 2020)— Today, the Job Creators Network sent a letter to Speaker Pelosi and Minority Leader Schumer urging them to publicly support President Trump’s payroll tax cut proposal to shore up the economy amid the coronavirus outbreak. To read the letter, click here.
“With Wall Street experiencing its worst week in over a decade, Congress must drop their partisan swords and work with the President to preserve the economic gains made by small businesses during this recovery, Alfredo Ortiz, JCN President and CEO, wrote in the letter. “Congress should immediately consider and approve a payroll tax cut for all small businesses. A payroll tax cut will give America’s 30 million small business owners the financial flexibility they need to weather the economic fallout of the coronavirus. With this flexibility, America’s small businesses will be better positioned to avoid layoffs and, in more extreme cases, avoid having to go out of business altogether.”
The letter continues, “In 2010, President Obama led a successful effort to cut the payroll tax to help small businesses cope. In 2012, the payroll tax cut was extended in a bipartisan way, passing a Republican-controlled House and a Democrat-controlled Senate… The coronavirus is the very definition of a black swan event, which is why Congress must take smart, immediate action in a bipartisan way.”