Bipartisan legislation recently introduced in the U.S. House would provide a tax credit for the purchase of personal protective equipment (PPE).
The Small Business PPE Tax Credit Act would provide a credit up to $25,000 for independent contractors, small businesses, nonprofit organizations, and others.
The bill was introduced by Reps. John Joyce (R-PA), Troy Balderson (R-OH), Brenda L. Lawrence (D-MI), and Mike Quigley (D-IL).
“In Pennsylvania and around the country, small businesses are not only the backbone of our economy, they are the heart of our communities,” Joyce said. “As America reopens, the small business community is working hard to protect both workers and customers. Providing a tax credit for personal protective equipment will help our small businesses ensure that they have the resources they need to safely reopen and keep our nation’s recovery on the right track.”
“As we safely reopen, Ohio’s small businesses are facing atypical expenses—such as the purchase of protective gear to safeguard employees and customers—on top of recent unexpected declines in revenue,” Balderson said. “Small businesses’ resiliency throughout this crisis has been astounding. Providing these job creators with the relief of a tax credit will go far in helping them get back to business as usual.”
Joyce is a member of the House Small Business Committee.