Prepared Floor Remarks
by U.S. Senator Chuck Grassley of Iowa
Chairman, Senate
Finance Committee
Thursday, August 6,
2020
Every day we can see that this public
health crisis is also an economic crisis. During the shutdowns, some employers
shuttered completely and others were forced to lay off workers. Tens of
millions of jobs were saved thanks to the Paycheck Protection Program and other
CARES Act provisions, but millions of
other Americans lost their jobs and remain unemployed. While jobs numbers have
improved since the more dire days of March and April, there are still many
Americans facing unemployment.
Talks are continuing to determine how
best to modify and extend a federal supplement to state unemployment insurance
programs. These state programs and the extra federal aid have been important
safety nets for folks who’ve lost their income. But they’re only a piece of
what we can and should do.
And, as the Leader said yesterday, we
know that those programs shouldn’t pay someone more to stay home than essential
workers are making by working. We also know that most people would prefer to
have a reliable job or avoid a layoff entirely.
That’s why Republicans, as part of the HEALS
Act, have put forward several additional proposals to help already
unemployed Americans and prevent others from getting laid off in the first
place.
We extend and significantly expand the
employee retention tax credit that was included in the CARES Act so employers can keep more people on payroll, and support
businesses that hire more workers as the economy continues to improve.
We expand the Work Opportunity Tax
Credit to support employers that are helping those currently receiving
unemployment insurance find a new, safe and steady job.
Bringing in new employees and expanding
the workforce can be complicated, especially in the time of a pandemic. Both
employers and employees want to maintain safe working environments.
So it’s important for employers to have
the resources to keep their workspaces clean and their employees protected.
Republicans propose a new tax credit for these expenses, like additional
cleaning expenses, personal protective gear and even office reconfigurations
that keep employees and customers safer.
The HEALS Act also provides for
another round of economic impact payments. An average family of four will
receive 3,400 dollars to help cover expenses. These payments will help any
family or individual who’s had to deal with a layoff, and are in addition to
any unemployment benefits they may receive.
These tax provisions serve as a
complement to the unemployment insurance programs. They set up extra layers of
protection for workers and those already out of work. Together, these proposals
provide a responsible approach to help employers reopen businesses so that
employees can safely and effectively return to work to continue fueling the
nation’s economic recovery.