Relief includes Tax Rebates, Delaying Quarterly Tax Payments and Providing Wage Credits to Small Businesses
WASHINGTON, D.C. – As the U.S. Senate works on the third phase of a coronavirus relief bill, the National Association for the Self-Employed (NASE), the nation’s leading advocate and resource for the self-employed and micro-business community, is advocating alongside a coalition of small business organizations for bipartisan support of a stand-alone piece of legislation, “Save America’s Main Street Act,” which would focus primarily on providing relief for America’s small business community.
“We are aggressively advocating along with our coalition partners to secure immediate and bipartisan financial support for America’s smallest businesses to assist in helping entrepreneurs survive this national public health crisis,” said Keith Hall, the president and CEO of NASE. “From tax rebates to delaying quarterly tax payments and providing wage credits to small businesses, each will go a long-way in preserving our small businesses along Main Street. We encourage lawmakers from both sides of the aisle to support this legislation as well as the small business community.”
Small business owners and self-employed Americans are the lifeblood of the country’s economy. According to Everlance, the explosion of gig economy workers — such as driver’s for Uber and Lyft — is part of a growing self-employed demographic, which now represents 33 percent of the economy. Recent studies have shown that nearly 27 million workers will have left their full-time jobs to start businesses, bringing the number of self-employed entrepreneurs in the U.S. to 42 million.
Hall concluded, “Protecting America’s small businesses is essential to our nation’s economic survival during, and after, this COVID-19 national health crisis. Across our country today, millions of small business owners are suffering enormous financial impacts due to an historic shutdown of Main Street. Congress must act now in a unified way to send a clear signal to our country’s small business community that they will not be left on their own to weather this national emergency.”