Steube Holds Virtual Town Hall with Englewood Chamber of Commerce
ENGLEWOOD, FLA. - U.S. Representative Greg Steube (R-Fla.) today held a virtual town hall with the Englewood Chamber of Commerce to discuss Florida's COVID response, President Biden's tax proposal, water quality issues, relief for businesses, and more.
"Communities like Englewood have experienced an unprecedented economic impact from the COVID-19 pandemic," Steube said. "I was honored to join their Chamber of Commerce today to share resources for small businesses and update them on my efforts to support our district's recovery at the federal level."
Steube updated the chamber on the recent extension of the Paycheck Protection Program's (PPP) application deadline until May 21, 2021. There is currently around $72 billion available in PPP funds for eligible small businesses and entities.
Later, Steube shared that he wrote a letter to the IRS commissioner on behalf of business groups in Florida's 17th district asking that the 2020 tax return deadline be extended past April 15, 2021, in light of the pandemic and a backlog at the IRS. The IRS subsequently announced that the deadline for 2020 tax returns would be automatically extended to May 17, 2021, without penalties or interest.
Steube also addressed concerns about President Biden's recent tax proposal. This proposal is the largest tax hike in decades, and President Biden has already signed $60 billion in tax hikes into law. This plan proposes raising the federal corporate tax rate from 21% to 28% and imposing a 15% minimum tax on large corporations' book income, which would make America's tax code one of the least competitive in the developed world.