SEMA praised the United States Senate for passing the “Small Business Jobs and Credit Act” (HR 5297). The bill will be signed into law by President Obama pending imminent ratification by the House of Representatives.

The legislation creates a $30 billion fund to provide banks with less than $10 billion in assets access to capital to lend specifically to small businesses while providing tax incentives to encourage business development. In addition, the bill includes $12 billion in tax cuts and stronger government loan guarantees.

“We commend Congress for taking this critical step toward providing small businesses with access to lending,” said SEMA President and CEO Chris Kersting. “As the key to our nation’s economic recovery, small businesses must be given every opportunity to expand and prosper. A lessened access to capital has served to prolong this stagnant economy and resulted in unnecessary anxiety for businesses and consumers alike. SEMA members who qualify for this program will benefit greatly from this fund.”

In addition to providing loans, the legislation will also extend the bonus depreciation through 2010. In 2008 and 2009, all businesses were permitted to immediately write-off 50% of the cost of new equipment (“bonus depreciation”). The depreciation expired at the end of 2009. SEMA contends that the depreciation write-off encourages companies to invest in newer, more efficient equipment and spurs sales and creates jobs. The bill will also expand and extend the Section 179 program, allowing companies to write-off up to $500,000 in capital expenditures in tax years 2010 and 2011, double the current limit for 2010.

“SEMA is working at all levels of the lending chain to help make credit available to our members,” said Kersting. “Enacting H.R. 5297 into law is vital towards achieving this goal.”

For additional information, contact Dan Sadowski at dans@sema.org.

SEMA praised the United States Senate for passing the “Small Business Jobs and Credit Act” (HR 5297). The bill will be signed into law by President Obama pending imminent ratification by the House of Representatives.

The legislation creates a $30 billion fund to provide banks with less than $10 billion in assets access to capital to lend specifically to small businesses while providing tax incentives to encourage business development. In addition, the bill includes $12 billion in tax cuts and stronger government loan guarantees.

“We commend Congress for taking this critical step toward providing small businesses with access to lending,” said SEMA President and CEO Chris Kersting. “As the key to our nation’s economic recovery, small businesses must be given every opportunity to expand and prosper. A lessened access to capital has served to prolong this stagnant economy and resulted in unnecessary anxiety for businesses and consumers alike. SEMA members who qualify for this program will benefit greatly from this fund.”

In addition to providing loans, the legislation will also extend the bonus depreciation through 2010. In 2008 and 2009, all businesses were permitted to immediately write-off 50% of the cost of new equipment (“bonus depreciation”). The depreciation expired at the end of 2009. SEMA contends that the depreciation write-off encourages companies to invest in newer, more efficient equipment and spurs sales and creates jobs. The bill will also expand and extend the Section 179 program, allowing companies to write-off up to $500,000 in capital expenditures in tax years 2010 and 2011, double the current limit for 2010.

“SEMA is working at all levels of the lending chain to help make credit available to our members,” said Kersting. “Enacting H.R. 5297 into law is vital towards achieving this goal.”

For additional information, contact Dan Sadowski at dans@sema.org.

SEMA praised the United States Senate for passing the “Small Business Jobs and Credit Act” (HR 5297). The bill will be signed into law by President Obama pending imminent ratification by the House of Representatives.

The legislation creates a $30 billion fund to provide banks with less than $10 billion in assets access to capital to lend specifically to small businesses while providing tax incentives to encourage business development. In addition, the bill includes $12 billion in tax cuts and stronger government loan guarantees.

“We commend Congress for taking this critical step toward providing small businesses with access to lending,” said SEMA President and CEO Chris Kersting. “As the key to our nation’s economic recovery, small businesses must be given every opportunity to expand and prosper. A lessened access to capital has served to prolong this stagnant economy and resulted in unnecessary anxiety for businesses and consumers alike. SEMA members who qualify for this program will benefit greatly from this fund.”

In addition to providing loans, the legislation will also extend the bonus depreciation through 2010. In 2008 and 2009, all businesses were permitted to immediately write-off 50% of the cost of new equipment (“bonus depreciation”). The depreciation expired at the end of 2009. SEMA contends that the depreciation write-off encourages companies to invest in newer, more efficient equipment and spurs sales and creates jobs. The bill will also expand and extend the Section 179 program, allowing companies to write-off up to $500,000 in capital expenditures in tax years 2010 and 2011, double the current limit for 2010.

“SEMA is working at all levels of the lending chain to help make credit available to our members,” said Kersting. “Enacting H.R. 5297 into law is vital towards achieving this goal.”

For additional information, contact Dan Sadowski at dans@sema.org.

As of April 1, 2011, it will be illegal to sell or install a wheel weight in New York that contains lead. The state joins several others that have enacted laws banning the manufacture, sale and use of lead weights. California’s law went into effect on January 1, 2010. Illinois, Maine, Vermont and Washington also ban the products while Iowa, Maryland, Rhode Island and Wisconsin have considered a ban.

The automakers have already agreed to stop using lead weights as original equipment, and the three major manufacturers of wheel weights in the United States stopped distributing lead weights in 2009. The U.S. Environmental Protection Agency launched a voluntary nationwide initiative in 2008 and began a rulemaking process in 2009, which may eventually translate into a mandatory federal ban. The weights have been banned in the European Union since 2005. Automakers, tire makers and the aftermarket are turning to three main substitute materials—steel, zinc or composites.

If lead weights fall off tires, there is concern that they then become environmental hazards or contaminants in the metal recycling process. In the environment, the weights may be ground into fine dust particles and turn into lead oxides, hydroxides or bicarbonates. Lead particles and chemical combinations also pose the risk of contaminating surface and ground water supplies.

For more information, contact Stuart Gosswein at stuartg@sema.org.

As of April 1, 2011, it will be illegal to sell or install a wheel weight in New York that contains lead. The state joins several others that have enacted laws banning the manufacture, sale and use of lead weights. California’s law went into effect on January 1, 2010. Illinois, Maine, Vermont and Washington also ban the products while Iowa, Maryland, Rhode Island and Wisconsin have considered a ban.

The automakers have already agreed to stop using lead weights as original equipment, and the three major manufacturers of wheel weights in the United States stopped distributing lead weights in 2009. The U.S. Environmental Protection Agency launched a voluntary nationwide initiative in 2008 and began a rulemaking process in 2009, which may eventually translate into a mandatory federal ban. The weights have been banned in the European Union since 2005. Automakers, tire makers and the aftermarket are turning to three main substitute materials—steel, zinc or composites.

If lead weights fall off tires, there is concern that they then become environmental hazards or contaminants in the metal recycling process. In the environment, the weights may be ground into fine dust particles and turn into lead oxides, hydroxides or bicarbonates. Lead particles and chemical combinations also pose the risk of contaminating surface and ground water supplies.

For more information, contact Stuart Gosswein at stuartg@sema.org.

This year’s mid-term elections are the most anticipated in recent memory. Last week, SEMA provided a complete list of voter registration/absentee ballot forms for all 50 states (click here to find your state and to vote early). We also encourage SEMA members to become engaged by supporting SEMA Political Action Committee (PAC). This election stands to be one of the most important in many years with the potential to deliver historic results. The balance of power in Washington is currently in question, and without the active participation of SEMA members, our industry will miss the opportunity to raise our voice and make a noticeable impact.

Help us spread the word to other SEMA members about SEMA PAC and the vital role it plays in protecting our industry from unfair laws and regulation. In response, all SEMA members should take action. SEMA PAC provides the opportunity for all members to become active and aggressive about supporting the lawmakers who support our industry. Turn your industry passion into action and become PAC-approved today.

The new SEMA PAC website, www.semapac.com, makes it easy for industry members to quickly become “PAC-approved”—an authorization form required by federal law that allows SEMA to share information about the PAC—and to make online, secure contributions. We encourage all members to visit the new site, become PAC-Approved, and learn how SEMA PAC is protecting your future. For more information, please contact Dan Sadowski at dans@sema.org.

SEMA PAC –Your industry. Your voice. Your Future.
www.semapac.com

This year’s mid-term elections are the most anticipated in recent memory. Last week, SEMA provided a complete list of voter registration/absentee ballot forms for all 50 states (click here to find your state and to vote early). We also encourage SEMA members to become engaged by supporting SEMA Political Action Committee (PAC). This election stands to be one of the most important in many years with the potential to deliver historic results. The balance of power in Washington is currently in question, and without the active participation of SEMA members, our industry will miss the opportunity to raise our voice and make a noticeable impact.

Help us spread the word to other SEMA members about SEMA PAC and the vital role it plays in protecting our industry from unfair laws and regulation. In response, all SEMA members should take action. SEMA PAC provides the opportunity for all members to become active and aggressive about supporting the lawmakers who support our industry. Turn your industry passion into action and become PAC-approved today.

The new SEMA PAC website, www.semapac.com, makes it easy for industry members to quickly become “PAC-approved”—an authorization form required by federal law that allows SEMA to share information about the PAC—and to make online, secure contributions. We encourage all members to visit the new site, become PAC-Approved, and learn how SEMA PAC is protecting your future. For more information, please contact Dan Sadowski at dans@sema.org.

SEMA PAC –Your industry. Your voice. Your Future.
www.semapac.com

Earlier this year, the Tire Industry Association (TIA) and SEMA announced the creation of the Global Tire Expo—Powered by TIA, a tire industry-only part of the SEMA Show. The new Expo is open to all segments of the tire industry, including automotive, commercial, retreading, recycling and more.

View all of the exhibitors in the Global Tire Expo, Powered by TIA.

Earlier this year, the Tire Industry Association (TIA) and SEMA announced the creation of the Global Tire Expo—Powered by TIA, a tire industry-only part of the SEMA Show. The new Expo is open to all segments of the tire industry, including automotive, commercial, retreading, recycling and more.

View all of the exhibitors in the Global Tire Expo, Powered by TIA.

Earlier this year, the Tire Industry Association (TIA) and SEMA announced the creation of the Global Tire Expo—Powered by TIA, a tire industry-only part of the SEMA Show. The new Expo is open to all segments of the tire industry, including automotive, commercial, retreading, recycling and more.

View all of the exhibitors in the Global Tire Expo, Powered by TIA.