Congressman Reed Discusses the PPP Program and Protecting Small Businesses from a Surprise Tax Bill at NFIB's Virtual Fly-In

Date: August 26, 2020

On Friday, August 21, Representative Tom Reed (R, NY-23) met with small business owners from across New York State to discuss the unprecedented challenges small businesses are facing as a result of COVID-19 and how Congress can help them recover.

Reed discussed the status of another federal relief package being negotiated in Washington, D.C. He is optimistic that Congress will reach an agreement that will include additional funding for the Paycheck Protection Program (PPP), restoring the tax deductibility of forgiven expenses under PPP, and hopes for small business protections from frivolous lawsuits as long as they are following health and safety guidelines. Reed heard directly from small businesses about their experiences with the PPP program and how it proved to be a vital and valuable tool for their survival. The Congressman remains committed to helping small businesses, especially those hit hardest by the pandemic, by extending the PPP program, allowing a second draw of forgivable loans, and maintaining its flexibility.

“We care about small businesses and their employers across the nation,” said Congressman Reed. “We were thankful for the opportunity to speak with so many New York businesses regarding our efforts to secure additional financial assistance and protections for small businesses in the upcoming stimulus bill, as well as other policy solutions to reignite our economy. Small businesses are the backbone of America – it is only fair they have fair access to the resources they need to reopen and thrive moving forward.”

“Congressman Reed understands the value small businesses bring to communities across New York’s 23rd district and is committed to finding bipartisan solutions to protect our state and nation’s job creators. Now more than ever, small businesses need to remain actively engaged in advocacy efforts to ensure they not only survive this pandemic but can help New York and our nation recover and thrive. NFIB sincerely thanks Congressman Reed for taking the time to meet and listen to New York’s small businesses and for being a strong supporter and tireless advocate in Washington,” said Greg Biryla, NFIB’s New York State Director.

NFIB’s annual Fly-In went virtual this year, connecting hundreds of small business owners across the nation with critical information, resources, and more than 70 virtual meetings with members of Congress.

 

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