Editor's Note: This column was co-authored by Rep. Ted Budd (R-NC).
In recent days, our nation has watched as COVID-19 (the Coronavirus) has significantly spread across the United States. Some of our finest medical experts have told us that our citizens will have to endure social distancing measures that carry not only emotional stress, but also economic consequences that must be addressed.
We believe that there are several legislative options that should be on the table for us to act on right now. That is why we introduced the Safeguarding Americans from Epidemics (SAFE) at Work Act. This legislation incentivizes social distancing in the workplace by creating a new telework tax credit for tax years 2020 and 2021 for employers who allow their employees to telework a minimum of 12 days per month. The tax credit would be worth up to $1,200 per year for each qualifying employee. The bill also temporarily allows employees to deduct home office expenses for tax years 2020 and 2021.
The Centers for Disease Control and Prevention (CDC) has found that individuals can contract COVID-19 and be contagious without showing symptoms, sometimes for weeks. This means that people could show up to work and infect others without being aware that they are even sick. Our legislation will keep Americans safe and healthy both at home and in the workplace.
Another step we should take to combat the spread of COVID-19 is to examine ways to accelerate the development of a vaccine as soon as possible. As of now, director of the National Institute of Allergy and Infectious Diseases (N.I.A.I.D.) Dr. Anthony Fauci estimates that the earliest a vaccine would be deployable is “in a year to a year and a half.” When it comes to this pandemic, we have to find ways to shorten that time frame. Fortunately, the Trump administration is already working with drug manufacturers to review any potential drug supply chain problems, and the National Institute of Health has officially announced the start of a clinical trial for a coronavirus vaccine candidate.
Our goal is to keep Americans safe and healthy wherever they live and work. In order to incentivize social distancing and make it more affordable, we think it's common sense to offer this telework tax credit. The medical experts are telling us to expect short-term pain in return for long-term gain. In that case, we believe that it’s our job to lessen the financial sting for our fellow citizens and the business community. We must also do everything in our power to speed up the development of a vaccine to get it on the market as soon as possible.
We need a full court press to stop the spread of the Coronavirus. Together we can overcome all challenges as a nation.