Academy Lauds Bill That Would Relieve Some PPE Expenses
H.R. 7216 Sets $25,000 Tax Deduction for Small Practices
November 4, 2020, 3:23 pm News Staff — The AAFP has voiced its support for legislation that would deliver much-needed financial relief to small primary care practices burdened by high costs for personal protective equipment as the COVID-19 pandemic continues.
The Small Business PPE Tax Credit Act (H.R. 7216) would allow small businesses to deduct from their taxes up to $25,000 of the cost of acquiring PPE. The legislation, the AAFP said in an Oct. 28 letter, takes “a critical step toward ensuring solo and small family physician practices have access to qualified personal protective equipment to continue operating during the ongoing pandemic.”
The letter was sent to Rep. Brenda Lawrence, D-Mich., who introduced the bill, and to its lead co-sponsors, Reps. Troy Balderson, R-Ohio; Mike Quigley, D-Ill.; and John Joyce, R-Pa. It was signed by Board Chair Gary LeRoy, M.D., of Dayton, Ohio.
Primary care practices are projected to lose a collective $15 billion due to decreased office visits and fees during the COVID-19 pandemic, the Academy wrote.
“Smaller practices and those that serve vulnerable populations will have a harder time absorbing these losses and continue to operate under increasing financial pressure. The cost of acquiring additional PPE, often at marked-up prices, is further cutting into practice revenue.”
Primary care practices continue to have difficulty securing PPE. As of September, one-third of primary care practices reported such obstacles, with a similar number saying this was a major concern.