ASAE Urges SBA to Rethink Small Business Loan Questionnaires

ASAE joined a large coalition of business groups this week in calling on the Trump administration to temporarily suspend “loan necessity” questionnaires developed to scrutinize businesses that took emergency payroll loans during the pandemic. The Small Business Administration (SBA) has been circulating the new questionnaires to obtain information from businesses that took Paycheck Protection Program… Read more »

DOL Proposes Association Retirement Plans

The Department of Labor on Oct. 22 announced proposed rulemaking to make it easier for small businesses to offer retirement benefits to their employees through association retirement plans (ARPs). Under the proposal, ARPs could be operated by trade associations in a city, county, state or multi-state metropolitan area, or in a particular industry nationwide. Sole… Read more »

Congress Approves ‘Minibus’ Spending Package

House and Senate leaders reached agreement on a package of three spending bills before departing early for a previously scheduled recess next week. The conference report also includes a continuing resolution that will keep all government agencies funded through at least Dec. 7, likely preventing any threat of government shutdown before the fall elections. The… Read more »

Coalition Pushing for Delay on Fringe Benefits

ASAE and other members of the UBIT Coalition continue to urge the Treasury Department to retroactively delay implementation of a provision in the new tax law that taxes transportation and parking benefits provided by many employers. The fringe benefits provision removes a deduction for employer-provided benefits such as transportation, parking and on-premises athletic facilities. In… Read more »

PRC Proposes New Rate-Making System

The Postal Rate Commission (PRC) last month proposed a new rate system that would allow the struggling U.S. Postal Service (USPS) to raise postal rates significantly for each of the next five years. The PRC has the authority to review and change the rate system and, while there is no strong consensus on the commission,… Read more »