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CIRT Urges Liability Protection and Flexibility for Businesses in Post-Pandemic Start-Up

Wed, May 20, 2020 2:50 PM | Anonymous

On behalf of its member firms and the design/construction industry, CIRT has joined a cross-section of organizations and businesses on two U.S. Chamber-led letters:

(1) The first letter joins a COVID 19 working group urging Congress to enact temporary protections from the expected surge of coronavirus liability lawsuits against employers and others. The letter does not recommend any specific legislation but stresses the need for Congress to act. [See letter for details]. 

(2) The second short letter simply calls on Congress and the Administration to make key changes to the PPP rules to provide more flexibility and clarity for borrowers. Namely, to: (1) repeal the Paycheck Protection Program’s (PPP) 75%-25% rule; (2) extend the eight-week period for purposes of calculating loan forgiveness,; and (3) extending the June 30th rehiring and restoration of pay safe harbor date.  These matters are of particular importance to smaller businesses and S-Corps that will likely be more impacted by the PPP program. 

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