News & Updates - California Business Roundtable Supports Governor’s Signing of PPP Loan Conformity Bill

April 29, 2021

SACRAMENTO—Rob Lapsley, president of the California Business Roundtable, issued the following statement in response to the governor signing AB 80 (Burke), which will provide federal tax conformity for PPP loans:

“AB 80 is an important part of the state’s economic recovery, especially for small business owners. We support the governor and Legislature’s ongoing focus on finding ways to help businesses recover, but there is still much work to be done. Now, full attention should turn to addressing the State and Local Tax (SALT) deduction issue, which the governor mentioned in his January budget and is moving through the legislative process as SB 104 (McGuire). SALT reform is yet another critical step for businesses to build back, hire back and bring our economy back.”

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