District Update | April 14, 2020 |
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I am proud to see another Arkansas company stepping up and doing their part to keep Arkansans healthy. Leather Brothers, Inc., in Conway, is converting their facilities to manufacture masks, which are reusable and washable and available in both child and adult sizes. These masks will help protect those who are most at risk from COVID-19, especially as traditional retailers are working to keep pace with demand. We all are in this together.
Recently, I joined Laura Monteverdi on THV 11 to answer your questions about the CARES Act, such as how to file for unemployment if you are self-employed, resources if you need food assistance, and when you can expect your one-time tax rebate. Listen to the full interview by clicking HERE or on the image below.
On April 11, 1945, General Patton’s Third Army liberated Buchenwald concentration camp in Weimar, Germany, where some 280,000 prisoners passed days and 56,545 died in captivity or were murdered. U.S. Army reports from that fateful week indicate some 20,000 prisoners were still alive in Buchenwald when the liberation day came. One of those liberators was my father-in-law, 22-year-old CPT Bill McKenzie, a fightin’ Texas Aggie combat engineer attached to the 76th Infantry Division. CPT McKenzie said of the day: “I will not describe the horrible sight of our entry into Buchenwald, but I will tell you this—that the crematorium was still burning, dead were stacked like cordwood on large trailers and the living dead were starving.” His words truly depicted the atrocities committed against the Jewish people and others during the Holocaust. This past Saturday, I marked the 75th anniversary of the liberation of Buchenwald death camp, and to watch my speech commemorating this day, click HERE or on the image above. We celebrate the Allied victory, we celebrate the long-awaited liberation, and we celebrate the American army officers who demonstrated courage in the face of tyranny and provided moral clarity in the face of authoritarian dictatorship and the cruel immorality of Buchenwald. May this grisly reminder serve as a clarion call urging all Americans and freedom-loving people across the globe to rally in repulsion of both the perpetrators of mass murder and those who willingly or by their silence facilitate its advance.
Last week, the Federal Reserve announced several new actions to provide up to $2.3 trillion in loans that will help main street America make it through to the other side of this trying time. These actions include:
If you have comments regarding this new program, please click HERE to submit them to the Federal Reserve. Paycheck Protection Program: The PPP went live on April 3, 2020. It authorizes up to $349 billion toward job retention and other expenses for the millions of Americans employed by small businesses. Small businesses and eligible nonprofit organizations, veterans’ organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards. For additional information from the Treasury's website, visit HERE. Which banks in Arkansas are ready to provide Paycheck Protection Program loans? The chart below outlines the current Small Business Administration (SBA) lenders in Arkansas.
Tax rebates are expected to hit bank accounts as soon as this week. Here’s what you need to know: You do not need to take any action if you filed a tax return for 2018 or 2019 and the IRS has your direct deposit information on file. You can expect your rebate approximately April 13 – April 16. You will need to take action if you filed a tax return for 2018 or 2019 but the IRS does not have your direct deposit information on file, or you didn’t file for 2018 or 2019. By mid-April, you will be able to input your information here:https://www.irs.gov/coronavirus/economic-impact-payments. Note: paper checks will start going out the week of April 20. Those with the lowest income will receive checks first. The checks will be issued in reverse “adjusted gross income” order — starting with people with the lowest income first. Those who do not file taxes can use the simple form provided on IRS.gov here or can also use the forms available from private sector tax preparers via the IRS Free File Program, which is accessible here. Additionally, some private sector tax preparers are providing the simple form for free through their regular commercial products. Families with children born in 2019 or 2020 can receive the $500 child credit, but action is required. A family with a child born in 2019 is eligible for the $500 per child rebate amount (assuming all other requirements are satisfied). If the family has not yet filed a 2019 tax return, the IRS will determine the family’s rebate amount based on their 2018 tax return filing. As a result, the family will not automatically receive the $500 rebate amount for the child born in 2019. To receive the credit the family can either:
Likewise, a family with a child born in 2020 is eligible for the $500 per child rebate amount. The family will be able to claim the $500 credit on their 2020 tax returns filed in 2021. If you have any questions, please contact my office at (501) 324-5941. |
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