The American Lighting Assn. (ALA) provided an update to its members regarding government assistance programs and the ongoing coronavirus crisis.
The assistance programs included in the second and third COVID-19 stimulus packages are still being implemented. For businesses and employees in need of assistance, the following links contain all the necessary information needed to navigate the process:
- Paycheck Protection Program
- Economic Injury Disaster Loans and Loan Advance
- SBA Debt Relief
- SBA Express Bridge Loans
- Guidance for Businesses and Employers
- SBA Products and Resources
- Government Contracting
- Local Assistance
Established by the IRS, this special section focuses on economic impact payments and steps to help taxpayers, businesses and others affected by the coronavirus.
Additional tax items
The federal government has extended the filing period until July 15, 2020, for federal tax returns. However, Americans are encouraged to file their federal taxes in a timely manner. A tax return must be filed before a $1,200 direct stimulus payment will be issued to qualified recipients. Please check with your state’s tax authority regarding your state income taxes.
Latest on Tariff Relief
President Donald Trump is poised to provide some relief on tariffs. The proposal being considered by the administration would defer payments for 90 days on tariffs from most-favored nations. Excluded from the deal are tariffs on Chinese goods (Section 301) and the Section 232 tariffs on imported steel and aluminum.
While this move does bring some relief to aid the economy, it brings little relief to ALA members. ALA says it will continue to follow-up on the letter it sent to the administration in March.
ALA members are encouraged to continue to engage Members of Congress, asking them them to send a letter on ALA’s behalf to the President regarding the suspension of Section 301 tariffs. Visit ALA’s Facebook page to take action. There you will see a suggested message to your Member of Congress and the link to the letter they can send to the President.
The Fourth Stimulus
Negotiators on Capitol Hill are already beginning to define the universe of a fourth stimulus package. This round of stimulus is expected to take longer to come together than the first three.
Items being floated for possible inclusion are infrastructure funding for highways, roads and bridges, as well as improving America’s drinking water system, credits for low-emission energy sources, another round of payments to Americans, additional resources for state and local governments, a potential roll back of the state and local tax deductions, and an undefined sum to assist with the recovery once the crisis subsides.
ALA will continue to monitor the establishment of a fourth stimulus package and will report on the relevant developments.
Please email Michael@ALALighting.com with any questions about the government’s response to the COVID-19 pandemic.
