Business Groups to Press Trump for Virus Response to Curb Damage

Article at WashingtonPost.com

By Ben Brody, Megan Wilson, and Jennifer A. Dlouhy

Business lobbies are pressing the President and Congress for actions to help with the effects of the Coronavirus on the economy. Some of the initiatives being proposed include:

  • extending unemployment insurance
  • broadening business entertainment tax breaks
  • offering tax credits to employers of quarantined workers

The massive drop in oil prices is the other impetus for the pressure for action.

The White House is hosting business leaders and industry executives to discuss possible actions, though sources say that the travel industry isn’t on the list for action at this time. The National Association of Manufacturers issued a plan with 30+ recommendations for helping medium and small businesses.

Vice President Pence is also set for meetings with top executives of major health insurance companies. The details of these activities are discussed in the article, including discussions about the oil and energy industries and the crisis precipitated by price-cutting actions of OPEC and Russia. The oil industry is suggesting tariff relief, more offshore drilling options, and faster permitting.

The escalating adverse effects of the virus on the travel and hospitality industries are discussed as well as actions by the Consumer Brands Association to deal with disappearing items from store shelves. Face masks, toilet paper, cleaning supplies, and hand sanitizer are all under pressure.

Read the entire article at this link.

SCHEDULE MY FREE CALL

With Tax Hive’s years of experience in tax and business services, we use our expertise to make your life easier so you can focus on building your business. Ever changing rules require a team who knows you, your business and the tax implications. Our tax professionals meet your needs while helping you manage tax risk, control costs and reap maximum benefit. If you’re ready to get started, CLICK HERE to schedule a FREE strategy session with one of our specialists today.

Schedule your FREE 15 minute call now!
X
X

YOU'RE ALL SIGNED UP!

Please check your inbox for our confirmation email
and your free eBook.