Delgado Visits Ulster Savings Bank, Highlights Small Business PPE Tax Credit Act

Last week, U.S. Representative Antonio Delgado (NY-19) visited Ulster Savings Bank in Lake Katrine for a first-hand look at the programs they've implemented to help customers during these difficult times, and PPE and measures installed to protect employees and customers. During the visit, Rep. Delgado discussed the Small Business PPE Tax Credit Act, bipartisan legislation he helped introduce which would provide a tax credit of up to $25,000, for the purchase of personal protective equipment (PPE), for small businesses, 501(c)(3) non-profits, veterans' organizations, independent contractors, farmers, self-employed, and more. Additionally, the visit focused on important changes to the Paycheck Protection Program (PPP) to make these programs more flexible for small business owners.

"Small businesses across NY-19 and across the country are adjusting to a new normal with social distancing measures that help keep both employees and customers safe while reopening. I was glad to tour the Ulster Savings Bank and hear from the employees and leadership about their experiences with federal small business programs including PPP loans, as well as the steps they've taken to support the health and wellbeing of our community," said Rep. Delgado. "As businesses across upstate take on additional costs of personal protective equipment, I will continue to champion the Small Business PPE Tax Credit Act to help small businesses and non-profits offset these additional expenses."

"We want to thank Congressman Delgado for visiting some of our frontline teammates at Ulster Savings Bank and for his leadership and open communication during the COVID crisis. He and his office were extremely helpful in getting many of the necessary changes needed to the SBA PPP program that allowed us and many community banks get these needed funds to our customers," said Bill C. Calderara, President & CEO, Ulster Savings Bank.

The Small Business PPE Tax Credit Act would amend the Internal Revenue Code of 1986 to provide a tax credit for the purchase of PPE for small businesses, 501(c)(3) non-profits, veterans' organizations, independent contractors, farmers, sole proprietors, and many more. Qualified PPE includes -- gloves, medical masks, N-95 respirators, eye protection, gowns and aprons, boots or closed-toe work shoes, cleaning detergents, hand sanitizers, and cleaning products or tools, among other things. The credit shall not exceed $25,000 in any taxable year; and the credit is taxable in any year in which the President of the United States, in respect to COVID-19, declares a national emergency under the National Emergencies Act or under Section 501(b) of the Robert T. Stafford Disaster Relief and Emergency Assistance Act.

As a member of the House Committee on Small Business, Rep. Delgado has worked to elevate the voices of small businesses across New York's 19th Congressional District during the COVID-19 pandemic. The Congressman successfully included his Small Business Repayment Relief Act in the bipartisan CARES Act which was signed into law in April and led the charge to include small farmers in the Small Business Administration's Economic Injury Disaster Loan (EIDL) program. Earlier this month, Rep. Delgado voted for the Paycheck Protection Program Flexibility Act, signed into law on June 5. Last week, Rep. Delgado introduced the Prioritized Paycheck Protection Program (P4) Act which would allow smaller PPP recipients, with significant losses due to COVID-19, to receive a second forgivable PPP loan.

Earlier this month, Rep. Delgado was recognized by the U.S. Chamber of Commerce with their inaugural Jefferson-Hamilton Award for Bipartisanship. The award recognizes members of Congress who in their actions have demonstrated a willingness to work across the aisle in support of common objectives.

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