National ACE sends letter to congressional leadership re: Potential Aid for Industries Impacted by Coronavirus
On March 11, 2020, National ACE, along with the National LGBT Chamber of Commerce, US Black Chambers, Inc., and the US Hispanic Chamber of Commerce, sent a letter to congressional leadership urging Congress to strongly consider small businesses when drafting any potential aid legislation for industries impacted by coronavirus. Specifically, we asked that Congress:
1) Ensure that hourly employees and paid interns, who are the majority of employees at many smaller associations and organizations, as well at the backbone of countless small businesses, are not left out of these essential measures.
2) Provide a fix for the drafting error in the Tax Cuts and Jobs Act (TCJA) of 2017 to ensure the 15-year Qualified Improvement Property (QIP) benefits are included, as intended. Small businesses are the economic engine that provides jobs for the majority of America's workforce. Further delay in fixing this error will increase its negative impact, decrease economic activity and threaten job creation.