Congresswoman Elaine Luria Fights for Tax Credits for Small Business to Purchase PPE
VIRGINIA BEACH, VA— Today, Congresswoman Luria announced her support of the Small Business PPE Tax Credit Act. This bipartisan bill will provide tax credits of up to $25,000 for small businesses to purchase personal protective equipment, such as gloves and face coverings for their employees. The tax credits would also be available for nonprofits, veterans’ organizations, independent contractors, and self-employed workers.
“As a former small business owner, I empathize with many of the business community’s frustrations and concerns,” said Congresswoman Luria. “Small businesses are the heartbeat of our Coastal Virginia economy, and we must support them during these uncertain times. As businesses across our Commonwealth and nation begin to reopen, it is critical to ensure that they have the resources they need to resume operations safely, which is why I support the Small Business PPE Tax Credit Act.”
Throughout the pandemic, Congresswoman Luria has worked across the aisle to support bipartisan solutions to support small business owners during this difficult time. The Congresswoman cosponsored the Safe Reopening Tax Credit Act, which would allow a payroll tax credit for 30% of qualified virus transmission prevention expenses. She also voted for the CARES Act, which established the Paycheck Protection Program (PPP) to distribute low-interest loans to small businesses and nonprofits. This program was not perfect, so Congresswoman Luria supported bipartisan initiatives to allow business owners to use PPP loans over extended time periods and provide flexibility for businesses struggling to meet the SBA’s requirement that 75% of loan proceeds go toward payroll costs.
Congresswoman Elaine Luria represents Virginia’s 2nd Congressional District. She serves on the House Armed Services Committee, where she is the Vice Chair of the Seapower and Projection Forces Subcommittee, and the House Committee on Veterans’ Affairs, where she serves as Chair of the Disability Assistance and Memorial Affairs Subcommittee.