The Paycheck Protection Program established by Congress promised businesses tax-free loans to cover employees’ paychecks during the unprecedented pandemic, to help businesses suffering at no fault of their own, and mitigate the economic impact of government-mandated shutdowns. Still, countless small businesses in Wisconsin have been forced to close their doors permanently and many others have barely survived with the help of these tax-free loans.
But now after businesses have spent these tax-free loans to protect their employees’ paychecks, Governor Evers and his administration are trying to punish them – knowing full well they’re taking money from the businesses who took these loans to survive blanket government shutdowns. Wisconsin must treat PPP loans like any other federal loan or grant for tax purposes.
Urge Governor Evers to abandon his plan to tax these loans immediately and instead work to help Wisconsin businesses recover and thrive!