Ask Senator Cory Booker and Senator Robert Menendez to support small business provisions contained in the Coronavirus Aid, Relief and Economic Security (CARES) Act to provide relief to small businesses and keep you valuable dealership workers employed.
Negotiations on the next Coronavirus Response bill are moving rapidly in the Senate with major decisions being made any minute. There are several provisions to help auto and truck dealers improve liquidity and cash flow included in the initial Senate Republican bill and we need your help to ensure these provisions stay in the final bill
Please urge Senators Booker & Menendez to support the provisions below to restore small business liquidity and keep dealership employees on the payroll.
These provisions would:
- Provide nearly $300 billion in small business interruption loans for paid sick or medical leave, employee salaries, mortgage payments, and any other debt obligations;
- Provide a process for small business borrowers to obtain loan forgiveness equal to the payroll cost and costs related to debt obligations from March 1 through June 30, 2020;
- Increase eligible small businesses to include businesses with 500 or less employees; and
- Help continue operations for businesses by delaying payment of employer payroll taxes; relaxing limitations on firm’s use of losses from prior years, and other tax relief to help dealers keep employees on payroll.
These small business provisions, if enacted, would provide relief to help small business dealers cover expenses and make payroll during this unprecedented time.