NAFEM supports JOBS Credit Act
NAFEM joined the International Franchise Association (IFA) and others in supporting bipartisan legislation to improve and enhance the Employee Retention Tax Credit (ERTC) program in the proposed Jumpstarting our Businesses’ Success (JOBS) Credit Act. The JOBS Credit Act builds on the Coronavirus Act, Relief and Economic Security (CARES) Act. It calls for, among other things, allowing employers to qualify for separate provisions of both the ERTC and the Payroll Protection Program (PPP), and an increase in the per-employee-limit from $10,000 for all calendar quarters to $15,000 per calendar quarter.
In the letter NAFEM and other signatories said, “An expansion of the ERTC is warranted so companies can continue to retain employees and pay their healthcare benefits until more robust consumer spending returns.”