April 8, 2020

Dear Friend,

It is encouraging to see more small business owners who are taking steps to keep their employees on the payroll. The U.S. Small Business Administration's new Payroll Protection Program (PPP), included in the CARES Act, is making that effort possible. Last Friday, PPP was launched, freeing up funds to provide eight weeks of cash-flow assistance to small business owners who keep paying their employees. If an employer maintains their payroll, then the portion of the PPP loan that was used to cover payroll, interest on mortgage obligations, rent and utilities will be forgiven. This proposal would be retroactive to February 15, 2020, to enable employers to bring employees who were laid off back onto the payroll. 501(c)(3)s are also eligible. 

These measures to protect small business owners and their employees are a step in the right direction, but more needs to be done to help Mississippi businesses. On Friday, all members of the Mississippi congressional delegation sent a letter to U.S. Small Business Administration (SBA) Administrator Jovita Carranza. We requested the SBA issue new guidance to include more Mississippi small businesses in the federal Paycheck Protection Program. We are concerned about the method that the SBA is using to count employees for small businesses. To read the full text of the delegation's letter, please click on the link.

To read the most up to date regulations pertaining to this program, please click on the link.

Additional resources:

Coronavirus.gov Small Business Resources Page
Treasury Department Overview on the Paycheck Protection Program
SBA.gov/Coronavirus Small Business Guidance & Loan Resources Page

Economic Impact Payments 

Our office has received a great deal of phone calls and emails from our constituents who want to know if they qualify to receive a direct cash payment. Every eligible American will receive the one-time payment.

Here's how it works:
  • The full credit amount ($1,200 individuals, $2,400 couples, $500 for children) is available for individuals with income at or below $75,000 ($112,500 for heads of household), and couples with income at or below $150,000.
  • If you have children, you will receive an additional $500 per child.
  • Your tax rebate amount will be reduced by $5 for each $100 your income exceeds the above income limits.
  • That means for those without children, an individual will not receive any rebate if their income exceeds $99,000; and the same is true for couples with more than $198,000 of income.
The Republican House Ways and Means Committee has provided answers to some Frequently Asked Questions (FAQs). To learn more, please click HERE.

Social Security recipients will automatically receive an economic impact payment. Click here for details.

Stay Informed/Stay Safe:

Please continue to watch for updates that will be posted on social media and on my website. 

STAY IN TOUCH

Let me know if there is anything my office can do to assist you. You can keep up with the latest news by signing up for my newsletter and following me on Facebook, Twitter and Instagram.

Thanks for reading, 
Rep. Trent Kelly (MS-01)
Member of Congress
Washington D.C.
1005 Longworth HOB
Washington, DC 20515
 
Phone: (202) 225-4306		 Hernando
2565 Caffey St., #200
P.O. Box 218
Hernando, MS 38632
Phone: (662) 449-3090		 Columbus
318 North 7th St., Ste. D
Columbus, MS 39701

Phone: (662) 327-0748
Tupelo
431 West Main St.
Tupelo, MS 38804

Phone: (662) 841-8808		 Eupora
855 South Dunn St.
Eupora, MS 39744

Phone: (662) 687-1545		 Farmington
4135 County Road 200
Corinth, MS 38834

Phone: (662) 687-1525
  Oxford
107 Courthouse Square
Oxford, MS 38655

Phone: (662) 687-1540 		 
WEBSITE | UNSUBSCRIBE | CONTACT