The last few weeks have been a difficult financial time for everyone. Family members have lost their jobs or have been furloughed due the COVID-19 pandemic. Businesses have disappeared and the economy is in bad shape.
StrasGlobal has been trying to help with the Stra$Bucks and the Essential Employee Bonus programs. The federal government has started sending out their Economic Impact payments (stimulus checks) and some cities and states have postponed rent and mortgage payments.
I want you to know about another proposal which is currently being developed in Washington, D.C. and which could be more good news for everyone. The Giving Retailers and Our Convenience Employees Relief Act (the “GROCER Act”) has been introduced in Congress. According to NACS, if the Act passes, anyone who is working in the grocery or convenience store industry will have their wages earned between February 15 and June 15, 2020 exempted from federal income taxes up to a maximum of $25,000. Furthermore, legislation allows the U.S. Treasury Secretary to extend the relief for up to an additional 3 months, with the cap increasing by $6,250 per month. If passed, this would increase the amount of your take home pay during this time period and reduce the taxes you will pay in 2021.
The reason for this proposal is to recognize the contribution of the convenience store industry to the nation during this COVID-19 crisis. This means that the nation would be thanking YOU!
“Grocery and convenience store workers are among the unsung heroes of our battle with COVID-19 and have played a vital role in the national food supply chain,” said Rep. Thompson. “The GROCER Act is a simple way of saying ‘thank you’ to the men and women who put themselves on the front lines, sanitizing, stocking, and serving communities by putting a little more of their hard earned money back in their paychecks.”
Rep. Evans said, “Our grocery and convenience store employees are serving on the front lines, making sure the rest of us have the food and other crucial supplies we need to get through this pandemic. This bipartisan four-month income-tax holiday would be a way to thank these vital workers and help them meet their own needs,” he said.
“Convenience store associates are indeed on the front line of the COVID-19 crisis in every community around the country by providing the food, fuel and necessities required by their customers,” said Henry Armour, CEO, NACS. “The relief provided by the GROCER Act is a welcome response to these heroes who have continued to serve their communities.”
We want to keep you updated on what is happening that might affect you and will share more information as we get it. You can find out about the Grocer Act by clicking here. More information about other federal and state government programs as well as COVID-19 health information can be found on the StrasGlobal website’s Health and Gov page. Be sure to stay up to date.