White House officials will not release updated economic projections this summer as is common practice, according to the Washington Post. The White House typically unveils a federal budget proposal every February and then provides a “mid-session review” in July or August with updated projections on trends such as unemployment, inflation and economic growth. Two White… Read more »

The IRS issued final rules this week rolling back donor disclosure requirements for certain tax-exempt organizations. The final rules mostly adopt the proposed changes issued last fall. The rules remove the requirement that trade associations and other tax-exempt groups provide the names and addresses of donors who contribute $5,000 or more on Schedule B of… Read more »

The House voted 417-1 today to pass legislation that will make urgently needed changes to the Paycheck Protection Program (PPP), created to assist small businesses struggling during the ongoing COVID-19 pandemic. The Paycheck Protection Flexibility Act, introduced by Reps. Chip Roy (R-TX) and Dean Phillips (D-MN), is designed to make PPP loans more accessible by… Read more »

ASAE endorsed a bill introduced on May 26 by Rep. Carolyn Maloney (D-NY) to create the Pandemic Risk Insurance Program, a system of shared public and private compensation for business interruption losses resulting from future pandemics or public health emergencies. The COVID-19 pandemic has caused severe financial strain on America’s associations resulting from cancelled meetings,… Read more »

The federal government released new jobless figures today showing an additional 2.4 million Americans sought unemployment aid in the last week. Due to the ongoing COVID-19 pandemic, more than 38 million Americans have filed unemployment claims over the past nine weeks. As part of the CARES Act enacted in March, Congress gave people filing for… Read more »