AGD Endorses PPE Tax Credit Legislation
AGD officially endorsed the Small Business PPE Tax Credit Act (H.R.7216) in a July 8 letter to the sponsors of the legislation. The recently introduced bill would allow for a tax credit of up to $25,000 for qualified personal protective equipment (PPE) expenses paid or incurred for the purposes of reducing the risk of COVID-19 transmission between people on the business' premises.
Expenses would include, but not be limited to: gloves, medical masks, N-95 respirators, eye protection, gowns and aprons, boots or closed-toe work shoes, cleaning detergents, hand sanitizers, cleaning products, tools, or other relevant expenses as deemed necessary by the Secretary of Treasury in consultation with the Secretary of Health and Human Services.
AGD also recently joined in an Organized Dentistry Coalition (ODC) letter in support of the legislation.
Impact on General Dentistry: AGD is working with the sponsors of the legislation to have its provisions included in future COVID-19-related relief legislation. Heightened costs related to acquiring the PPE needed to reopen dental practices are placing a substantial strain on the financial health of practices. A tax credit to help offset these costs would be a considerable line of support to dentists looking to maintain their supply of PPE and potentially invest in other environmental controls to reduce the risk of COVID-19 transmission in the dental practice setting.
Expenses would include, but not be limited to: gloves, medical masks, N-95 respirators, eye protection, gowns and aprons, boots or closed-toe work shoes, cleaning detergents, hand sanitizers, cleaning products, tools, or other relevant expenses as deemed necessary by the Secretary of Treasury in consultation with the Secretary of Health and Human Services.
AGD also recently joined in an Organized Dentistry Coalition (ODC) letter in support of the legislation.
Impact on General Dentistry: AGD is working with the sponsors of the legislation to have its provisions included in future COVID-19-related relief legislation. Heightened costs related to acquiring the PPE needed to reopen dental practices are placing a substantial strain on the financial health of practices. A tax credit to help offset these costs would be a considerable line of support to dentists looking to maintain their supply of PPE and potentially invest in other environmental controls to reduce the risk of COVID-19 transmission in the dental practice setting.