Press release:
Congressman Chris Jacobs (NY-27) has cosponsored four pieces of legislation to help drive economic recovery – the Paycheck Protection Small Business Forgiveness Act, a bill extending coronavirus aid for airlines, the Small Business Expense Protection Act of 2020, and the Coronavirus Economic Relief for Transportation Services (CERTS) Act.
“As we work through the unprecedented challenges facing our nation, my focus is ensuring we have a strong and robust economic recovery," Jacobs said. "We must get Americans back to work safely, support our major industries, and provide vital resources to small businesses so we can protect American jobs and give companies the ability to create new ones.”
The four pieces of legislation Jacobs cosponsored are:
- H.R. 7777 – Paycheck Protection Small Business Forgiveness Act would forgive any Paycheck Protection Program loan under $150,000.
- H.R. 8345 – to provide support for air carrier workers, would extend the Payroll Support Program (PSP) for airlines for an additional six months through March 2021.
- H.R. 6821 – Small Business Expense Protection Act of 2020 would allow businesses to deduct expenses covered with forgivable Paycheck Protection Program loans from their federal taxes.
- H.R. 7642 – Coronavirus Economic Relief for Transportation Services (CERTS) Act would provide assistance to bus and motor coach operators that have been significantly impacted by COVID-19. In addition to supporting employees, these funds could be used to support operation and maintenance of existing equipment.
“Supporting the American workforce and reducing the burdens placed on our small businesses are critical to bolstering our nation’s economic recovery," Jacobs said. "As I continue fighting for policies that put American workers and small businesses first, I am also strongly urging the Speaker, the Senate, and the White House to reach a bipartisan deal to provide comprehensive COVID-19 relief for our families, small businesses, and farmers.”
