NAW Urges Congress to Support PPP Deductibility
Washington, DC – The National Association of Wholesaler-Distributors (NAW) today released the following statement regarding the bipartisan COVID-19 relief legislation.
From Eric Hoplin, NAW President and CEO:
“While distributors fought to keep the supply chain moving, the Paycheck Protection Program helped keep employees on payroll so they could supply critical goods to hospitals, schools, and businesses across the country. Any proposal that limits the deductibility of PPP funds would raise taxes on small businesses that simply cannot afford it as they continue to face unprecedented challenges during the COVID-19 pandemic. We urge Congress to allow all businesses to deduct regular business expenses funded by PPP and avoid unexpected tax increases that could lead to a double dip recession.”