PIA Opposes Admin. Proposal to Raise Taxes on Business Assets

The Biden Administration is proposing the imposition of tax increases on businesses to pay for its proposed transportation and infrastructure plan. As part of this effort, the administration wants to repeal of the practice of stepping-up the basis for capital gains tax of assets transferred at death. This change would end the use of stepped-up …

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NFIP Hearing in Senate Banking Kicks Off Reauthorization Process

On May 18, the U.S. Senate Committee on Banking, Housing and Urban Affairs held a hearing on the reauthorization of the National Flood Insurance Program (NFIP). PIA submitted testimony in which we urged the Committee to pass a long-term reauthorization and highlighted several specific reforms we’re pursuing this year. The NFIP’s most recent five-year reauthorization …

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Dept. of Labor Announces Withdrawal of “Independent Contractor” Definition Revision

Last week, the Department of Labor (DOL) announced its decision to withdraw a planned revision of the regulation governing the definition of independent contractors. The withdrawal decision was made in response to the publication by the Wage and Hour Division of the DOL of a proposed final rule revising its interpretation of the definition of …

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Paycheck Protection Program Largely Depleted

The Paycheck Protection Program (PPP) was a key piece of the CARES Act, one of the first COVID relief laws passed last spring, now over a year ago. Administered by the Small Business Administration (SBA) and modified several times by Congress, the PPP offers forgivable loans to small businesses facing economic peril because of the …

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