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.
1. Latest on the Main Street Lending Program
The Federal Reserve has announced a NEW information session for minority and women-owned businesses and interested parties who wish to learn more about the Main Street Lending Program.
This webinar is an opportunity for interested parties to learn about the Main Street Lending Program and to get answers to questions from senior officials from the Federal Reserve. The session will include an overview of the program, and information about eligibility requirements, loan terms and conditions, and how to get started.
Wednesday, June 24, 2020, 2:00 p.m. EDT:
“The Main Street Lending Program and Your Business”
Registration is now open HERE.
2. Latest on the Paycheck Protection Program
Last Friday, the SBA and the Treasury Department announced that it would reveal the recipients of loans of $150,000 or more issued through the Paycheck Protection Program (PPP) after growing congressional pressure.
The SBA will disclose the names, addresses, classification codes, zip codes, business type, demographic data, non-profit information, jobs supported and loan amount of each firm to receive a coronavirus emergency relief loan of at least $150,000. The amount of the loan will be disclosed within a range, not a specific amount. NAW has joined other groups in expressing concern about the release of this information.
To read the full press release from the SBA and the Treasury, click HERE.
3. Issues Unrelated to COVID-19
Late last week the House Committee on Transportation and Infrastructure passed their $494 billion surface transportation reauthorization, more commonly known as “The Highway Bill,” by a party-line vote. The two-day long markup was heated at times and was interrupted at one point for a Democratic press conference where House Democratic leadership introduced a $1.5 trillion infrastructure package, which includes the afore mentioned highway bill.
The broader infrastructure package being introduced includes provisions for schools, housing, and broadband access. It is anticipated that the House will vote on the infrastructure package before July 4th, however, to date there are no details on how the House plans to pay for the $1.5 trillion package.
You can view a section by section outline of the House Infrastructure Package HERE.
Additionally, you can view a fact sheet on the infrastructure package HERE.
4. Latest on Economic Recovery and Re-Opening the Workplace
As the Coronavirus Pandemic continues to impact the United States economy and businesses across the nation, it can be hard to decipher how new regulations and laws may impact your business. To help you manage these issues NAW is providing information about reports, webinars and seminars that you may find useful:
Stateside Associates publishes a daily report about State and Local Government responses to the evolving situation.
To read their latest report, click HERE.
We are also providing a link to a spreadsheet that includes state and local COVID-19 response information provided by MultiState Associates.
To view their spreadsheet, click HERE.
Click here for links to Critical Updates sent previously.
The above information and links to other information has been prepared by NAW for the general information of NAW members. It is not intended to, and does not, provide tax, legal or professional advice concerning any specific matter. You should not act on the information without first obtaining professional advice and counsel.