Small Business
Biden Administration Announces Changes to the Paycheck Protection Program
NHTSA Issues Takata Air Bag Recall 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, February 24 when…
Read MoreASA Signs Letter Opposing the Raise the Wage Act of 2021
NHTSA Issues Takata Air Bag Recall 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 next five years. According to…
Read MoreDepartment of Labor Finalizes Definition of Independent Contractor Status
NHTSA Issues Takata Air Bag Recall 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 will continue to…
Read MoreBipartisan Group of Lawmakers Release More Details on $908B Stimulus Plan
NHTSA Issues Takata Air Bag Recall 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 includes $300 billion for the…
Read MoreMassachusetts Passes Right to Repair Ballot Initiative
NHTSA Issues Takata Air Bag Recall 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 of…
Read MoreASA Urges Shops to Contact Congress to Move New COVID-19 Relief Stimulus Package
NHTSA Issues Takata Air Bag Recall 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 negotiating for weeks over the size and…
Read MoreSBA Announces Streamlined Loan Forgiveness Process for Small PPP Loans
NHTSA Issues Takata Air Bag Recall 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 difficulties they have faced…
Read MoreU.S. House Small Business Committee Holds Hearing on Fraud and the PPP
NHTSA Issues Takata Air Bag Recall 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 critical oversight procedures for the PPP,…
Read MoreGovernment Accountability Office Predicts Trouble with PPP Loan Forgiveness
NHTSA Issues Takata Air Bag Recall 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 of the more…
Read MoreWhite House Signs PPP Extension
NHTSA Issues Takata Air Bag Recall 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.…
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