The Internal Revenue Service (IRS) has ruled that a PPP loan borrower may not deduct eligible expenses on its 2020 tax return if the borrower has a reasonable expectation that the PPP loan will be forgiven.
SEMA Government Affairs
The National Highway Traffic Safety Administration (NHTSA) issued an advanced proposed rule to begin creating a framework for regulatory oversight of Automated Driving Systems (ADS).
Democrats and Republicans remain deadlocked on the scope and cost of the next economic stimulus package.
The U.S. Congress passed a bill to extend the deadline for businesses to apply for Payroll Protection Program (PPP) loans to August 8, 2020.
The U.S. House of Representatives passed a bipartisan bill to provide companies more flexibility on the use of funds from the U.S. Small Business Administration’s (SBA) Paycheck Protection Program (PPP).
Congressional leaders are negotiating legislation to expand the Paycheck Protection Program (PPP) loan by $250 billion with half of that amount being distributed through community banks.
Join SEMA for a webinar on Wednesday, April 8, at 1:00 p.m. (EDT), to review new federal leave mandates, expanded unemployment benefits, and understand key labor and employment laws you may need to think about in navigating the current business environment due to the COVID-19 pandemic.
Join SEMA for a webinar, Thursday, April 9, at 1:00 p.m. (EDT), to review financial assistance programs available through the U.S. Small Business Administration (SBA).
U.S. Representative Ted Budd (R-NC) is currently serving in his second term representing North Carolina’s 13th Congressional District, which spans five counties between Statesville and Greensboro.
SEMA-opposed legislation (S.B. 6156) in Washington to significantly restrict eligibility of collector vehicles and horseless carriages passed the Senate Transportation Committee and now awaits consideration in the Senate Rules Committee.