Absent further action by Congress to extend a further financial lifeline to small businesses, the period in which employers are required to maintain payroll as a condition of Paycheck Protection Program (PPP) loan forgiveness is coming to a close (24-weeks since first receiving a payment). Unfortunately, businesses that have reopened, but are not yet financially independent and still relying upon PPP funding, could soon be forced to fire staff. Some economists predict that the resulting layoffs could affect as many as two million workers. Further, under normal circumstances, business expenses such as rent, utilities, payroll and the like are deductible, but unless Congress takes additional action, those expenses – if paid for with PPP loans will not be deductible and employers have to return a significant percentage of the “free” PPP money back to the IRS in taxes. To underscore the severity of these issues, the Coalition of Franchisee Associations (CFA) hosted a virtual Congressional Town Hall with Representative Rodney Davis (R-IL) yesterday afternoon, and the Congressman’s closing admonition to the many franchisees attending was “get engaged, and stay engaged. We need you to let your elected officials know what you need to keep your business open and thriving. Join us in the fight – enough’s enough!” Get involved and help us help you!