March 16, 2020 / 5:02 PM / 17 days ago

U.S. Chamber of Commerce urges aid to larger firms to combat revenue losses

WASHINGTON (Reuters) - The U.S. Chamber of Commerce said on Monday that the coronavirus pandemic has drained revenues from a broad swath of American businesses large and small that need emergency loans and guarantees to keep them afloat and paying workers.

Neil Bradley, the Chamber’s chief policy officer, said the business lobby group is urging Congress to suspend the payment of payroll taxes by employers for March, April and May and to pass legislation allowing emergency loans to companies with more than 500 employees in addition to small and mid-size businesses.

“Broadly speaking across industries, there’s virtually no industry that’s not having significant revenue disruption,” Bradley told reporters on a conference call. “The most important thing we can do for American workers today is to make sure that their employers is in a position to continue cutting them their paycheck.”

Reporting by David Lawder; Editing by Chizu Nomiyama

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