David Richter Issues Plan for Immediate Economic Relief During the COVID-19 Crisis

Toms River, NJ – March 18, 2020 – David Richter, Republican candidate for Congress in New Jersey’s Third District, today released his plan for providing immediate economic relief in response to the COVID-19 crisis.

“The COVID-19 crisis is currently devasting residents and businesses alike throughout the Third District and across our entire nation,” said Richter.  “In order to ease the burden on everyone, I am proposing a real, commonsense plan that will provide immediate relief to those who most desperately need it.”

Richter’s plan includes the following:

1)     Provide a payroll tax cut.  To provide immediate tax relief to our small businesses, the federal government should eliminate payroll taxes for at least three months.  After those three months, the President can extend the payroll tax cut on a monthly basis until he determines that the economy has stabilized.

2)     Tax cuts for small businesses.  The business tax cuts enacted by the Tax Cuts and Jobs Act were a good start and were instrumental in providing a historic boost to our economy.  In this time of crisis, we should do more: let’s cut the business tax rate to 15% to put more people back to work.

3)     Expand SBA loan authority.  Better than anyone, small business owners know how to overcome economic downturns.  Let’s expand the authority of the U.S. Small Business Administration to provide loans to free up necessary capital and provide flexibility to small business owners to do what they do best: make smart decisions that create good-paying jobs that allow our local economies to thrive.

4)     Reimbursement for college costs.  With universities closing their doors and sending students home, students and families should not have to shoulder the burden for unused room, board and tuition.  These thousands of dollars, often tens of thousands of dollars, should be immediately reimbursed, using university endowments, if necessary, to quicken and simplify the process.

Richter continued, “It’s sad that I am the only candidate proposing real solutions about how we can help our fellow citizens dig out of this crisis.  Kate Gibbs’ lone idea was to self-servingly think ahead to Election Day – and about her own dimming election prospects – in calling for changes to the way we vote in June.  That’s fine, Kate, but what about families worried about paying their bills or putting food on their table right now?  Just as bad, Andy Kim is trying to raise campaign funds off of the crisis.  The residents of the Third District deserve better from both of them.”

For more information on the David Richter for Congress campaign, please visit our website at www.Richter2020.com.