Treasury to Modify Guidance for Energy Production, Investment Tax Credits in Light of Health Crisis Slowdowns
Washington – In a letter sent to senators today, Treasury Secretary Steven Mnuchin stated the department would modify the regulatory guidance for both the production tax credit (PTC) and the energy investment tax credit (ITC). This decision follows a joint request from bipartisan senators led by Senate Finance Committee Chairman Chuck Grassley (R-Iowa). “Projects […]
Following Bipartisan Request, Treasury Modifies Employee Retention Tax Credit Eligibility for Employers Providing Health Benefits for Furloughed Employees
Washington – Following requests from bipartisan members of Congress, including Senate Finance Committee Chairman Chuck Grassley (R-Iowa), the Treasury Department today modified its decision to bar employers that continue providing health insurance to furloughed workers from claiming the employee retention tax credit (ERTC). Treasury Secretary Steven Mnuchin conveyed the department’s response on the ERTC […]
Bipartisan Senators Introduce Bill to Clarify Small Business Expense Deductions Under PPP
WASHINGTON – Senate Finance Committee Chairman Chuck Grassley (R-Iowa) joined Sens. John Cornyn (R-Texas), Ron Wyden (D-Ore.), Marco Rubio (R-Fla.) and Tom Carper (D-Del.) today to introduce the Small Business Expense Protection Act, which would clarify the Small Business Administration’s Paycheck Protection Program (PPP) so small businesses can deduct expenses paid with a forgiven PPP […]
Grassley, Wyden, Neal Push Treasury to Allow Small Businesses To Deduct PPP Expenses
Washington – Senate Finance Committee Chairman Chuck Grassley (R-Iowa), Ranking Member Ron Wyden (D-Ore.) and House Ways & Means Committee Chairman Richard E. Neal (D-Mass.) today wrote to Treasury Secretary Steven Mnuchin urging the department to change its flawed interpretation of the CARES Act preventing businesses from deducting expenses associated with Paycheck Protection Program (PPP) […]
International Trade Commission Identifies Imported Goods Needed to Fight Pandemic
Washington – Following a request from Senate Finance Committee Chairman Chuck Grassley (R-Iowa) and House Ways and Means Committee Chairman Richard Neal (D-Mass.), the U.S. International Trade Commission (ITC) conducted an expedited fact-finding mission to identify imported products that may be needed to respond to the ongoing COVID-19 pandemic. Grassley and Neal requested the ITC […]
Grassley Commends Administration Announcement on Help for Nursing Homes
Washington – Senate Finance Committee Chairman Chuck Grassley (R-Iowa) issued the following statement regarding President Trump’s announcement of further federal help and guidance for nursing facilities during the COVID-19 pandemic. “President Trump, his administration and especially CMS should be commended for their efforts in recent weeks to enhance services to older Americans in nursing […]
Grassley: No Need for Mischaracterization, Just Transparency in Puerto Rico Disaster Aid Work
Washington – Senate Finance Committee Chairman Chuck Grassley (R-Iowa) made the following comments regarding recent correspondence with Governor Wanda Vazquez Garced of Puerto Rico. “I appreciate the prompt response to my letter to the governor with questions about Puerto Rico’s procurement processes, investigations and health system. Many of the specific questions I raised, based on […]
ICYMI: The New York Times is Wrong to Criticize CARES Act Business Tax Cuts
Americans for Tax Reform Alex Hendrie April 27, 2020 Many on the left are criticizing tax relief enacted through the Coronavirus Aid, Relief, and Economic Security (CARES) Act. A recent New York Times article claims that corporations and “the rich” are prioritized over small businesses and individuals. This criticism is wrong. At issue is […]
Grassley Pushes for Crackdown on Scam Artists Defrauding Hospitals, Selling Fake or Faulty PPE
Washington – Senate Finance Committee Chairman Chuck Grassley (R-Iowa) is today asking the administration to take every reasonable effort to shore up the safety of the personal protective equipment (PPE) supply chain and crack down on those defrauding hospitals. “Hospitals and health care workers are busy saving lives and protecting the country right now. […]
Senators Urge Regulatory Relief for Energy Tax Credits in Light of Pandemic Setbacks
Washington – A bipartisan group of senators is today urging the Treasury Department to extend the safe harbor provisions for both the energy production tax credit and the energy investment tax credit to accommodate the significant development slowdowns resulting from the COVID-19 public health crisis. “As the ongoing COVID-19 crisis continues to claim lives […]