Legislation included in House-passed Heroes Act would help 6.1 million businesses keep 60 million workers connected to their jobs, so they continue to receive a paycheck and health insurance

WASHINGTON--A bipartisan bill introduced by U.S. Representatives Stephanie Murphy, D-Fla., John Katko, R-N.Y., Suzan DelBene, D-Wash., Brian Fitzpatrick, R-Pa., and Chris Pappas, D-N.H., to prevent layoffs by expanding the employee retention tax credit (ERTC) continues to gain bipartisan momentum. The measure would enhance the employee retention tax credit (ERTC), which incentivizes businesses of all sizes to retain their employees in active or furloughed status, rather than laying them off, so they continue to receive a paycheck, employer-sponsored health insurance, and other benefits. It is estimated that ERTC expansion will help 6.1 million businesses keep 60 million workers tethered to their jobs.

Other cosponsors of the legislation now include Reps. Pete King, R-N.Y., Kathleen Rice, D-N.Y., Anthony Gonzalez, R-Ohio, Steven Horsford, D-Nev., Jaime Herrera Beutler, R-Wash, Derek Kilmer, D-Wash., John Curtis, R-Utah, and Cindy Axne, D- Iowa.

"I'm proud our initiative to help millions of workers and businesses continues to receive broad bipartisan support. This proposal was the result of painstaking negotiations with my colleagues on both sides of the aisle who agree Congress needs to advance big, bold, and bipartisan proposals to support workers, businesses, and our economy," said Murphy, who was the first Member of Congress to propose inclusion of the ERTC in the CARES Act and worked successfully to secure its passage. "Only legislation that becomes law will help the American people directly. Now that the House has approved this bill, we will keep working to ensure this job-saving measure is soon enacted into law."

"With already historic levels of unemployment, we need to stop mass layoffs during this crisis. This bipartisan plan, which is the central jobs protection provision of the Heroes Act, is the most efficient way to keep workers on payroll and receiving their benefits," said DelBene. "This proposal does not create a new program to administer, new forms to fill out, or extended waiting period before relief comes in the door. Business are already using this program and will be able to immediately take advantage of it once it is expanded. I urge the Senate and the Trump administration to come to the table immediately to reach a bipartisan deal to support workers and businesses."

The legislation was included in the House-passed HEROES Act, which is Congress's latest effort to combat COVID-19. More information on the bipartisan ERTC expansion bill can be found here https://murphy.house.gov/uploadedfiles/fact_sheet_on_hr_6776_the_jobs_credit_act_of_2020.pdf.

Read this original document at: https://murphy.house.gov/news/documentsingle.aspx?DocumentID=1379