Economy & Jobs

Today, Congressman Joe Courtney (CT-02) released a letter that he wrote to several eastern Connecticut chambers of commerce to provide clarification for small businesses on the federal tax impact of a forgiven Paycheck Protection Program (PPP) loan.

“Passage of the bipartisan CARES Act opened up numerous additional resources for small business owners, and kickstarted brand new programs that will help streamline cashflow directly to small businesses,” said Rep. Courtney.

“The COVID-19 pandemic has upended life for everyone, but people in eastern Connecticut need to know that more help is on the way,” said Rep. Courtney.

“I am grateful that the House Oversight and Reform Committee voted to approve our legislation supporting Minor League Baseball,” said Congressman Courtney.

“Ten years ago, a group of hard-working people in Middletown, Connecticut headed to work at the Kleen Energy power plant, and did not go home that evening to their friends and families,” said Congressman Courtney.

“The population of working Americans aged 60 and over is growing nationwide, and eastern Connecticut is fortunate to be home to a large number of those seniors,” said Congressman Courtney.

“the Tax Cuts and Jobs Act, imposed a new tax on nonprofits, including religious organizations, which required nonprofits to pay a 21% UBIT on parking and transportation benefits provided to their employees. This tax has been an enormous burden to many nonprofit and religious organizations in Connecticut."

“The long-awaited contract awarded today – the largest ever awarded by the Navy – provides stability and certainty to our submarine shipbuilders, greater deterrent capability to our combatant commanders, and increased workload for the industrial base,” Courtney said.