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Treasury Dept. Updates PPP FAQ Sheet

May 13, 2020 | Comments Off on Treasury Dept. Updates PPP FAQ Sheet

The U.S. Small Business Administration is working in conjunction with the U.S. Department of Treasury on the implementation of the Paycheck Protection Program (PPP). The PPP was established under H.R. 748, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, in response to the ongoing COVID-19 pandemic. The SBA and Department of Treasury are continuously…

Automotive Aftermarket Associations Urge Congressional Leaders to Oppose Cash for Clunkers Program

May 12, 2020 | Comments Off on Automotive Aftermarket Associations Urge Congressional Leaders to Oppose Cash for Clunkers Program

Major automotive aftermarket associations, including the Auto Care Association, Tire Industry Association and Service Station Dealers of American and Allied Trades, the Automotive Oil Change Association, and the Automotive Service Association, sent a letter to Congressional leaders in opposition of a new “Cash for Clunkers” type program from being included in the next COVID-19 stimulus…

House Democratic Leadership Releases COVID-19 Fourth Stimulus Package

May 12, 2020 | Comments Off on House Democratic Leadership Releases COVID-19 Fourth Stimulus Package

The U.S. House of Representatives Democratic leadership unveiled the COVID-19 fourth stimulus package. The House is expecting to vote on the package on Friday. The bill also makes changes to the Paycheck Protection Program (PPP), including expansions to the types of organizations that are eligible for the loans, specifically allowing 501(c)(6) business trade associations to…

SBA Cuts EIDLs and Blocks New Applications

May 7, 2020 | Comments Off on SBA Cuts EIDLs and Blocks New Applications

The Washington Post reported that the U.S. Small Business Administration (SBA) is decreasing the loan limit for the Economic Injury Disaster Loan (EIDL) program from $2 million to $150,000 for small businesses and is blocking new applications due to the programs popularity. Congress recently replenished the EIDL program, however, SBA has been facing a backlog…

NHTSA Report Shows Decrease in Traffic Fatalities

May 6, 2020 | Comments Off on NHTSA Report Shows Decrease in Traffic Fatalities

The National Highway Traffic Safety Administration (NHTSA) released an early report on the estimate of motor vehicle fatalities in 2019. According to NHTSAs findings, there was a slight decrease in fatal car crashes in 2019 when compared to 2018. In the report, NHTSA states that they are still continuing to gather and finalize data on…

Senator Cardin Sits Down to Discuss PPP

May 6, 2020 | Comments Off on Senator Cardin Sits Down to Discuss PPP

Senator Ben Cardin (D-MD), the ranking democrat on the Senate Committee on Small Business and Entrepreneurship, joined Politico’s chief economic correspondent, Ben White, to discuss the Paycheck Protection Program (PPP). The COVID-19 pandemic has presented unprecedented challenges to Americans. Over the past few weeks, many small business owners have applied for the PPP and Economic…

IRS Issued PPP Guidance Creates Upset Amongst Lawmakers

May 6, 2020 | Comments Off on IRS Issued PPP Guidance Creates Upset Amongst Lawmakers

Last week the Internal Revenue Service (IRS) issued guidance on the Paycheck Protection Program (PPP) that would prevent businesses from deducting expenses like rent and wages that are covered with the loans from the PPP. The IRS interpretation is the opposite of how Congressional lawmakers intended it. U.S. Senators Chuck Grassley (R-IA), Ron Wyden (D-OR),…

U.S. DOL Holds National Dialogue on Reopening America’s Workplaces

May 4, 2020 | Comments Off on U.S. DOL Holds National Dialogue on Reopening America’s Workplaces

The U.S. Department of Labor (DOL) is seeking comment and input from the public regarding reopening workplaces. Per the DOL: The U.S. Department of Labor (DOL) invites small business and workers to participate in the DOL’s “Opening America’s Workplaces Again National Online Dialogue.” Through this dialogue, the public can play a key role in helping…

ASA Joins America’s Recovery Fund Coalition

May 4, 2020 | Comments Off on ASA Joins America’s Recovery Fund Coalition

The Automotive Service Association (ASA) has joined America’s Recovery Fund Coalition, an alliance of more than 100 trade associations and business organizations advocating for a grant-based federal assistance program to power the resilience of American enterprise. Together, the Coalition’s members span 30 business sectors and employ 45 percent of the nation’s workforce – more than 58…

U.S. DOL Holds Online Dialogue on Opening Work Places

May 1, 2020 | Comments Off on U.S. DOL Holds Online Dialogue on Opening Work Places

Per the U.S. Department of Labor (DOL): As the U.S. Department of Labor continues its efforts to support American workers and position the economy for a strong rebound, the department is hosting a national online dialogue on “Opening America’s Workplaces Again,” to solicit ideas from the public on how best to help employers and workers reopen…

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