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Biden Administration Announces Changes to the Paycheck Protection Program This morning, President Biden announced tweaks to the Paycheck Protection Program (PPP) that are intended to focus loans to the smallest businesses that may have been left behind in previous iterations of the program. The most significant of these changes is a 14-day period beginning Wednesday,…

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ASA Signs Letter Opposing the Raise the Wage Act of 2021 This morning, ASA signed onto a letter sent by the National Federation of Independent Businesses (NFIB) to the U.S. Congress opposing the Raise the Wage Act of 2021. This legislation, if passed, would raise the federal minimum wage to $15 per hour over the…

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Department of Labor Finalizes Definition of Independent Contractor Status The U.S Department of Labor announced a final rule today clarifying the standards for independent contractors under the Fair Labor Standards Act (FLSA). This rule is intended to mitigate worker misclassification by detailing the qualifications for an independent contractor.   Under this new rule, independent contractors…

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Bipartisan Group of Lawmakers Release More Details on $908B Stimulus Plan The bipartisan group of Senators negotiating for a COVID-19 economic stimulus bill released more details of their $908 billion plan today. The U.S. Congress is attempting to come to an agreement on economic stimulus legislation before the end of the year. The current plan…

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Massachusetts Passes Right to Repair Ballot Initiative Last night, Massachusetts voters overwhelmingly passed Question 1 “Right to Repair” ballot initiative, 75 percent to 25 percent. This proposal expands upon the previously passed Right to Repair initiative. expanding the scope to include telematics information.   This was a hotly contested initiative, and both sides spent millions…

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ASA Urges Shops to Contact Congress to Move New COVID-19 Relief Stimulus Package This week in Congress, talks continue between Treasury Secretary Steven Mnuchin, Speaker of the House Nancy Pelosi, other Republican congressional leaders, and members of the Trump Administration to finalize another stimulus package for COVID-19 relief.  Speaker Pelosi and Secretary Mnuchin have been…

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SBA Announces Streamlined Loan Forgiveness Process for Small PPP Loans The Small Business Administration (SBA) announced a streamlined process for Paycheck Protection Program (PPP) Loans under $50,000. Loans under $50,000 account for approximately 3.5 million of the 5.2 million total loans issued through PPP. This announcement comes after consistent complaints from small business owners about…

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U.S. House Small Business Committee Holds Hearing on Fraud and the PPP The United States House of Representatives Committee on Small Business conducted a hearing today to discuss ongoing fraud in the Paycheck Protection Program (PPP) and potential remedies. This hearing follows a Government Accountability Office (GAO) report that the Small Business Administration (SBA) neglected…

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Government Accountability Office Predicts Trouble with PPP Loan Forgiveness The Government Accountability Office (GAO) released a new report Monday warning of potential delays and bureaucratic difficulties for businesses attempting to convert their Paycheck Protection Program (PPP) loans into forgivable grants. As of September 8, the Small Business Association (SBA) has processed and forgiven only 56,000…

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White House Signs PPP Extension On July 4, 2020, President Trump signed S. 4116 into law. The bill extends the Paycheck Protection Program (PPP) application period to August 8, 2020. The U.S. Senate and U.S. House of Representatives passed the bill last week.   To read the statement from the White House, click here. Categories…

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