The legislation includes important financial assistance for businesses – large and small – including loans, tax credits, and other provisions aimed at incentivizing employers to keep workers on the payroll during the crisis.
“We urge Congress to move quickly to pass this vitally important legislation. We know from history that without regular waste collection illness and disease spread. The provisions in the legislation will help our members continue to operate during this health crisis,” said NWRA President and CEO Darrell Smith.
Provisions important to NWRA members include an employee retention credit for employers subject to closure due to COVID-19; delay of payment of employer payroll taxes; modifications for net operating losses which expands carryovers and carrybacks for losses which can help with bad debts incurred when companies continue their services despite non-payment or by providing services that are non-compensated; modifications of limitation on business interest; and loans both through the Small Business Administration and the “Coronavirus Economic Stabilization Act of 2020.”
ABOUT NWRA
The National Waste and Recycling Association represents the private sector waste and recycling services industry.
Association members conduct business in all 50 states, and DC and include companies that manage waste collection, recycling and medical waste, equipment manufacturers and distributors, and a variety of other service providers.
REFS
NWRA CALLS ON CONGRESS TO PASS ECONOMIC STIMULUS PACKAGE SWIFTLY