PPP impact Virus relief — now

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When the Paycheck Protection Program was established by the Coronavirus Aid, Relief, and Economic Security Act in March, the law stated that any loan forgiveness provided to qualifying employers under the program would be excluded from the borrower’s taxable income.

However, at the direction of the Treasury Department, the IRS issued Notice 2020-32 specifying expenses paid with PPP loans that are forgiven will not be tax- deductible. How this would impact me? Absent new legislation if I had a $100,000 PPP loan used for payroll expenses in 2020 that are not deductible (per the IRS notice) could result in an increased tax bill to my company of $25,000 or more!

I ask you to support legislation to ensure employers are provided with tax deductibility of expenses paid for with forgiven PPP loans as intended by Congress.

I am outraged that Washington politicians may head home for the holidays without passing any new COVID relief. For millions of Americans, this holiday season is looking like a nightmare.

Millions of families are struggling to put food on the table this holiday season, and 12 million renters are under threat of eviction when the CDC eviction moratorium ends on December 31. These renters are behind in rent an average of $5,400, causing economic hardship for them and their landlords. Some lawmakers have a bipartisan plan to provide food and rental assistance for the next few months, but Senate leaders are blocking it. They seem content to let countless Americans fall into financial ruin and homelessness in the middle of a global pandemic.

Congress must not leave Washington without taking action. They must pass a COVID bill now that includes food assistance, emergency rental assistance, and an extension of the CDC eviction moratorium.

— Margaret DeMott/

Sacramento