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Balderson Offers Bipartisan Tax Break to Small Businesses for COVID-19 Protective Gear

Washington, June 15, 2020
  • PPE Tax Credit

WASHINGTON – Congressman Troy Balderson (R-OH) today with Representatives Brenda Lawrence (D-MI), John Joyce (R-PA), and Mike Quigley (D-IL) introduced bipartisan legislation that will provide further relief to America’s small businesses in the wake of the COVID-19 outbreak. The Small Business PPE Tax Credit Act would provide a tax credit to small businesses, 501(c)(3) nonprofit organizations, veterans’ organizations, farmers, independent contractors, sole proprietors, and certain other organizations for the purchase of Personal Protective Equipment (PPE) intended to reduce the risk of COVID-19 transmission.

“As we safely reopen, Ohio’s small businesses are facing atypical expenses—such as the purchase of protective gear to safeguard employees and customers—on top of recent unexpected declines in revenue,” said Balderson. “Small businesses’ resiliency throughout this crisis has been astounding. Providing these job creators with the relief of a tax credit will go far in helping them get back to business as usual.”

Under the Small Business PPE Tax Credit Act, certain small businesses and nonprofit organizations would qualify for a tax credit of up to $25,000 for the purchase and installation of PPE intended to reduce the risk of COVID-19 transmission between people on the business’ or organization’s premises. This includes, but is not limited to:

  • Gloves, medical masks, N-95 respirators, eye protection, gowns and aprons, boots or closed-toe work shoes, cleaning detergents, hand sanitizers, cleaning products or tools;
  • Retrofitting or installation of equipment; and
  • Any other relevant expense the Secretary of the Treasury, in consultation with the Secretary of Health and Human Services, deems necessary.

BACKGROUND

Balderson has championed the needs of small businesses throughout the COVID-19 outbreak, including his role in passing the CARES Act, which established the Paycheck Protection Program (PPP), and the Paycheck Protection Program and Health Care Enhancement Act, both of which provided funding for loans to small businesses to help retain employees during the crisis.

Balderson also cosponsored the PPP Flexibility Act, which recently became law, and is pushing for additional reforms to the program that will go further to assist Ohio’s small businesses.

Balderson also introduced a resolution commending America’s small businesses for their resiliency during the COVID-19 crisis and acknowledging Congress’ need to continue supporting these job creators.

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