Today, the Texas Public Policy Foundation released the second paper on the Workplace Recovery Act, a plan that would bring relief to American employers in a strategic and comprehensive way.
“Two things are clear in this economic crisis; we need to get back to work, and any assistance needs to be directed specifically at helping businesses reopen and keep or rehire their workforce,” said Rod Bordelon, one of the authors of the paper and a senior fellow with TPPF. “Many employers who were forced to close by government-mandated shutdowns incurred significant losses and now need help to repair the damage but any assistance must be carefully administered in order to serve the purpose of getting the economy back on track and Americans back to work. This plan is also inherently fair in that it is open to a broad spectrum of businesses and allows smaller businesses to have the same program access as larger businesses.”
The Workplace Recovery Act would direct federal funds specifically at businesses that have incurred and can demonstrate cash operating losses after March 1, 2020, when government shutdowns began. The funds directed are limited to covering cash operating losses only and not profits. The program is designed to have a long enough length to create business confidence to reopen and rehire. The Workplace Recovery Act would compensate businesses with a valid taxpayer ID number prior to March 1, 2020, for losses capped at up to 90% of their revenues of the prior 12 months.
To read the full, updated plan, visit:
To read about the sort of employer that the Workplace Recovery Act could help, visit: