On March 18, AGC joined a host of other business groups in calling on Congress to enact a number of tax-related measures to safeguard companies, regardless of size, during the COVID-19 outbreak. This includes policies such as immediately providing accessible, unsecured credit to businesses, suspend the filing of business returns and the payment of all business taxes, and amending the Tax Code to, among other items, restore the ability of businesses to carryback any net operating losses against previous year tax payments. AGC believes these measures will help to minimize the number of businesses closed and workers unemployed during this time and ensure that all businesses have the resources necessary to ride out the pandemic.
For more information, please contact Matthew Turkstra, Director, Congressional Relations, Tax, Fiscal Affairs, & Accounting at matthew.turkstra@agc.org.