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Jobs and Economic Impact


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Update: the law congress passed effectively requires small businesses (under 500 employees) to pay out huge benefits to employees who qualify as sick or eligible for special COVID Family and Medical Leave. The Givernment will eventually refund employers, but only through a payroll tax credit that could take many months (or years) to get back the benefits paid out. And employers have no revenue coming in.
 

All of this means that the only way employers can keep their employees on the books is if (1) they have a lot of cash in the bank to pay out these benefits, and (2) they believe they will survive this and stay in business long enough to get reimbursed by the government. Few businesses satisfy both of these. As a result, they are terminating employees instead of furloughing them or reducing their hours substantially. 
 

In other words, the very law the government passed in a supposed effort to help employees is actually resulting in their terminations. Our government at its finest, folks.

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11 hours ago, wopphil said:

Update: the law congress passed effectively requires small businesses (under 500 employees) to pay out huge benefits to employees who qualify as sick or eligible for special COVID Family and Medical Leave. The Givernment will eventually refund employers, but only through a payroll tax credit that could take many months (or years) to get back the benefits paid out. And employers have no revenue coming in.
 

All of this means that the only way employers can keep their employees on the books is if (1) they have a lot of cash in the bank to pay out these benefits, and (2) they believe they will survive this and stay in business long enough to get reimbursed by the government. Few businesses satisfy both of these. As a result, they are terminating employees instead of furloughing them or reducing their hours substantially. 
 

In other words, the very law the government passed in a supposed effort to help employees is actually resulting in their terminations. Our government at its finest, folks.

This is what we’re facing. We’re in construction manufacturing which should be viable when all this passes but everyone is puckered up tighter than a snare drum. 
Theoretically, we go out of business if too many employees use the full range of benefits be because you’re right, I don’t see a path to reimbursement 

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