Skip to content
Home / COVID Relief

COVID Relief

The Employee Retention Credit: A Boon to the Restaurant Industry

Recovering from the devastating impact of COVID will prove to be a long journey for the restaurant industry. Recent data shows that sales are $240 billion below normal, 8 million employees have been laid off or furloughed, and over 110,000 eateries closed for good in 2020, and it’s evident the way back to pre-crisis level of sales and employment will not be straightforward.

work-opportunity-tax-credit

Tax Tools to Spur Sustainable Growth in the Next Wave of COVID-19 Relief Legislation

Congress is to be commended for moving swiftly this spring to mitigate economic fallout from COVID-19, but the pandemic has exposed core vulnerabilities for the United States that require more than patchwork solutions. Now is the time to improve tools in the tax code that will make American businesses more competitive while increasing their ability to withstand the inevitable future economic shocks. We should start with the R&D tax credit. Let’s make it more generous, especially for U.S.-based manufacturers and small and mid-size businesses.