FOR IMMEDIATE RELEASE
Stoke Consumer Demand Through Stimulus Checks to Working, Middle Class and Cover Paid Sick Leave Expenses
Statement by Frank Knapp, Jr. co-chair of Businesses for Responsible Tax Reform and President & CEO of the South Carolina Small Business Chamber of Commerce
Washington, D.C., March 12, 2020—As we face serious economic impacts from COVID-19, we must understand that small business owners and their employees will be hit hard and fast by dropping consumer demand and expenses associated with extended paid leave. Under these circumstances, layoffs–which are already happening–are likely to increase.
There are 30 million small businesses in this country that employ nearly half the workforce and support local economies. When they are hit hard, the pain is felt by many. The government needs to quickly get stimulus money into the hands of working and middle-class consumers who shop at these businesses so they can weather this health crisis. These consumers will spend every penny of it. The government also needs to help small businesses cover expenses related to paid leave and social distancing. Many small businesses cannot let employees work from home or afford extended paid leave.
What we don’t need is another large corporate tax give away like the Tax Cuts and Jobs Act. Large corporations have clearly shown they will pocket any tax savings rather than deploy it for economic stimulus.
The nation’s Main Street businesses need our help. We need direct and immediate action to support them by helping
keep their shops open and their employees healthy.
About Businesses for Responsible Tax Reform
Businesses for Responsible Tax Reform is a coalition of business leaders calling for tax reform that truly benefits America’s small business owners. We are dedicated to ensuring tax reform is fiscally responsible, creates a level playing field for all businesses, grows the economy and works for our nation’s 30 million small business owners. Learn more about us on our website and follow us on Twitter and Facebook.