WASHINGTON, D.C. (WMBF) – Congressman Tom Rice wants to help businesses get back to work and keep their employees healthy.
Rice introduced the Healthy Workplace Tax Credit on Thursday in Washington.
The legislation would provide a refundable tax credit against payroll taxes for 50% of the costs spent on COVID-19 testing, personal protection equipment, disinfecting, extra cleaning and reconfiguring workspaces.
For example, a restaurant with 40 employees that spends $60,000 on PPE, testing, disinfecting plexiglass shields, will receive a $30,000 tax credit against its payroll taxes.
If the credit exceeds the restaurant’s employer side payroll, then the excess credit will be refunded to the restaurant.
“The coronavirus pandemic is impacting every American. As we continue to safely reopen, business owners will have to take unprecedented measures to protect their employees and patrons. Keeping Americans safe while getting back to work is a top priority. It’s important we reconnect workers to jobs and prevent more business closures. Our healthy workplace tax credit will support businesses as they reopen by incentivizing them to take extra precautions to protect the health of patrons and employees,” Rice said.
The tax credit would be limited to $1,000 per employee for a business’s first 500 employees, $750 per employee for the next 500 employees and $500 for each employee thereafter.