Latest on the Vaccine Eligibility and Essential Services 

As you all know all too well, the federal government deferred much of the decision-making on administration and eligibility of the COVID vaccine to the states and localities, making it very difficult for companies deemed essential last year to ensure that their employees are eligible to get the vaccine.  While we have not found a way to streamline the process, we hope these resources will help you navigate the maze.

Latest on the Paycheck Protection Program

Deductibility of expenses:  As you know, the IRS ruled earlier this year that otherwise-tax-deductible expenses that are paid with a forgiven PPP loan will not be deductible.  This ruling is in direct conflict with the statute, which clearly said PPP loans would not be taxable.  NAW and our trade association colleagues have been working with allies in the House and Senate to pass legislation that would reaffirm statutory intent and reverse the IRS ruling.  We have also communicated with the SBA and Treasury urging that the IRS ruling be rescinded, but with no success – Secretary Mnuchin has been truly “dug-in” on this issue.

According to data compiled after each Federal election by the U.S. Census Bureau, millions of registered voters who are private sector employees fail to cast ballots in elections for high public office at all levels of government.  This Census data is consistent election after election.  In the November 2018 election, more than 29 million registered voters did not cast ballots.

Our partners and the National Association of Wholesler-Distributors continue to work for our industry in Washington D.C. Here are recent updates from NAW on four pressing issues.

Update on Congressional Action for Additional Paycheck Protection Program (PPP) Funding

Yesterday evening, the Paycheck Protection Program (PPP) exhausted its funding forcing the Small Business Administration (SBA) to stop accepting applications for job-saving loans.  According to a press release from Treasury Secretary Mnuchin and the SBA, “By law, the SBA will not be able to issue new loan approvals once the programs experience a lapse in appropriations.”

After several years of rulemaking, and successful legal challenges by NAW and others which resulted in a second round of rulemaking, the Wage and Hour Division (WHD) of the Department of Labor (DoL) on Friday published a final rule “Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales and Computer Employees” – the EAP or so-called “White Collar exemptions” from minimum wage and overtime pay requirements – under the Fair Labor Standards Act (FLSA.).

Congress passes two-year budget agreement:

Congress has just passed a two-year budget deal that would be significant under any circumstances and may be seen as remarkable in Washington since this city is widely regarded as being incapable of getting anything done.

Our industry partners at the National Association of Wholesalers-Distributors continues to work on our behalf on a variety of issues impacting the greater wholesale industry. Below are a few updates on current issues they are involved with.

Our partners at the National Association of Wholesaler-Distributors is working hard to protect the best interests of our wholesaler members They recently joined to amicus briefs regarding labor issues. Keep reading to learn more.