Business, nonprofit coalition urges restored employee tax credit

Council of Nonprofits in the News

Tags: 

Employee Retention Tax Credit

#Relief4Charities

David L. Thompson, vice president of public policy for the National Council of Nonprofits, said in an interview that repeal of the tax credit hit at a particularly poor time and was based on a false narrative it wasn’t being used. The group has more than 25,000 organizations in its network and lobbies on behalf of charitable nonprofits.

According to Thompson, nonprofits may need to lay off some workers if the credit isn't restored. He said bringing the credit back would also help deal with the pandemic's impacts, including a drop in volunteering that's left some charities without a vital source of staffing.

Thompson said policymakers didn't anticipate the omicron variant and new restrictions when they negotiated the infrastructure law. “So they repealed a disaster relief tool right before the disaster hit even harder," he said.

Source Name: 

CQ