AS FAR AS THEIR HEALTH GOES.
WE HAVE TO LEARN --
>> HORRENDOUS.
>> -- HOW TO DO TWO THINGS AT
ONCE.
>> JOINING US DEMOCRATIC
CONGRESSWOMAN SUSAN DelBENY OF
WASHINGTON.
SHE CREATED A JOBS BILL WHICH IS
THE CENTRAL PAYCHECK PROTECTION
COMPONENT OF THE HEROES ACT.
SHE IS HERE NOW.
THANK YOU FOR JOINING US.
HOW WILL THIS BILL HELP
AMERICANS GET THROUGH THIS?
>> WELL, FIRST OF ALL LET ME SAY
THANK YOU TO ALL OF YOU FOR
RECOGNIZING THE OVER 100,000
LIVES THAT HAVE BEEN LOST ACROSS
OUR COUNTRY, ALMOST 1,100 IN MY
STATE OF WASHINGTON.
THESE ARE OUR FRIENDS AND OUR
FAMILY, OUR LOVED ONES.
WE ALL GRIEVE FOR THEM.
YOU ARE ALSO RIGHT IN THAT WE
HAVE DONE -- WE NEED TO DO MORE
TO MAKE SURE THAT FAMILIES WHO
ARE STRUGGLING ECONOMICALLY CAN
GET BY, AND ONE OF THE KEY
COMPONENTS IS TO MAKE SURE THAT
WE KEEP PEOPLE CONNECTED TO
THEIR JOBS, GETTING A PAYCHECK
AND RECEIVING BENEFITS.
SO A KEY PART OF THE HEROES ACT,
BASED ON LEGISLATION THAT MYSELF
AND STEPHANIE MURPHY FROM
FLORIDA, INTRODUCED WOULD BE TO
EXPAND THE EMPLOYEE RETENTION
TAX CREDIT.
IT IS A TAX CREDIT THAT WAS PUT
IN PLACE IN THE C.A.R.E.S. ACT
IN A SMALL WAY TO HELP COVER
PAYROLL.
WE EXPAND IT SO IT WOULD RUN
FROM MARCH -- SO YOU COULD LOOK
BACKWARDS -- THROUGH THE END OF
THE CALENDAR YEAR AND WOULD HELP
COVER UP TO 80% OF QUALIFIED
WAGES SO THAT A SMALL BUSINESS
WOULD HAVE THEIR PAYROLL
COVERED.
YOU COULD ALSO GET MONEY FOR
OVERHEAD TO MAKE SURE THAT
THEY’RE ABLE TO KEEP THEIR
EMPLOYEES IN THEIR JOBS, GETTING
A PAYCHECK, ON BENEFITS AND
REDUCE UNEMPLOYMENT.
>> WILLIE.
>> CONGRESSWOMAN, IT IS WILLIE
GEIST.
THANKS FOR BEING ON THIS
MORNING.
THIS OBVIOUSLY WILL BE WELCOME
NEWS TO SMALL BUSINESS OWNERS.
WHO EXACTLY WOULD QUALIFY FOR
THIS?
THERE WAS SOME TROUBLE AS YOU
KNOW WITH THE FIRST ROUND OF PPP
OF THE SMALL BUSINESS GETTING
THE MONEY TO SURVIVE.
WHO DO THEY GO ABOUT IT AND WHO
QUALIFIES.
>> THIS IS ANY BUSINESS THAT
SUFFERED GREATER THAN 10%
REVENUE LOSS FROM THE PREVIOUS
YEAR WOULD QUALIFY, 1500
EMPLOYEES OR LESS.
IT IS SEPARATE FROM THE PAYCHECK
PROTECTION PROGRAM, THE PPP LOAN
PROGRAM.
IT IS A TAX CREDIT, ADVANCED
REFUNDABLE TAX CREDIT.
THE WAY IT WORKS IS DIRECTLY
WITH THE IRS.
YOU WOULD BE ABLE TO CLAIM YOUR
QUALIFIED WAGES UP TO $15,000
PER EMPLOYEE PER QUARTER.
THEN YOU WOULD BE ELIGIBLE TO AN
80% TAX CREDIT FROM THAT.
THE ELEGANT WAY WE MADE IT
WORK -- AND I USED TO RUN THE
DEPARTMENT OF REVENUE FOR THE
STATE OF WASHINGTON, SO I KNOW
PUTTING PROGRAMS IN PLACE IS
HARD.
IT IS MORE THAN JUST THE
LEGISLATION.
WE WORK SO THAT YOU WOULD --
THROUGH THE IRS A BUSINESS WOULD
NOT HAVE TO PAY THEIR PAYROLL
TAXES OR CERTAIN WITHHOLDING.
THEY WOULD BASICALLY BE ABLE TO
KEEP THAT MONEY BASED ON THE
CREDIT THEY WOULD RECEIVE.
INSTEAD OF WRITING A CHECK TO
THE IRS AND THEN THE IRS SENDING
YOU MONEY BACK, YOU WOULD BE
ABLE TO KEEP THOSE DOLLARS IN
PLACE AND KEEP THAT CREDIT.
SO IT WOULD BE ABLE TO GET UP
AND RUNNING QUICKLY, NO MIDDLE
MAN AND HELP BUSINESSES RIGHT
AWAY.
>> CONGRESSWOMAN, LOOKING AT THE
LATEST JOBLESS CLAIMS,
2.1 MILLION FILED LAST WEEK,
BRINGING THE TOTAL OVER TEN
WEEKS TO 41 MILLION, WHAT ARE
YOUR CONCERNS SPECIFIC TO YOUR
CONSTITUENTS IN THE WEEKS AND
MONTHS TO COME?
>> WELL, I HAVE MANY CONCERNS.
YOU KNOW, ONE IS TESTING AND
MAKING SURE WE ARE ABLE TO GET
TESTING AND CONTACT TRACING UP
TO THE LEVEL WHERE AS WE START
TO REOPEN WE CAN MAKE SURE THERE
ARE NO FURTHER SPIKES.
IN WASHINGTON STATE WE’VE DONE A
GREAT JOB OF BENDING THE CURVE
AND WE’RE JUST STARTING TO DO A
PHASED REOPENING, BUT TESTING
AND CONTACT TRACING WILL BE
CRITICAL TO THAT.
WE NEED TO MAKE SURE THAT WE
HELP OUR COMMUNITIES, HELP FOLKS
GET BACK ON THEIR FEET.
ONE THING ABOUT THE EMPLOYEE
RETENTION TAX CREDIT IS BECAUSE
IT RUNS THROUGH THE END OF THE
YEAR IT GIVES THAT CERTAINTY TO
BUSINESSES AND TO THEIR
EMPLOYEES SO THAT THEY KNOW THAT
PROGRAM IS AVAILABLE AND THOSE
RESOURCES ARE AVAILABLE EVEN AS
THEY START TO REOPEN BECAUSE WE
KNOW IT IS GOING TO TAKE TIME.
SO MAKING SURE WE ARE DOING THE
PUBLIC HEALTH SIDE OF CONTACT
TRACING AND TESTING IS VERY,
VERY IMPORTANT, MAKING SURE WE
ARE DOING THE OTHER SIDE OF
PROVIDING THE ECONOMIC RESOURCES
INCLUDING NOT ONLY EMPLOYEE
RETENTION TAX CREDIT BUT ALL OF
THE THINGS IN THE HERO’S ACT,
SUPPORT FOR STATE AND LOCAL
GOVERNMENT.
WE KNOW THAT THE MORE WE DO NOW,
WE HELP PREVENT THIS CRISIS FROM
BECOMING EVEN WORSE ECONOMICALLY
AND WE HELP THE RECOVERY HAPPEN
FASTER.
IT IS VERY IMPORTANT THAT WE
MOVE LEGISLATION THROUGH TO HELP