Changes Coming to Agriculture Committees; Vilsack Named Secretary-Designate

While there are still outstanding congressional races left to be decided, and the membership of committees for the next Congress will not be finalized for several more weeks, there will be big changes coming to the leadership of the U.S. House and Senate Agriculture Committees in 2021. Although the next Farm bill is not up …

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PIA Calls on Congress to Prevent Surprise Tax on PPP Loan Recipients

PIA National has issued an action alert urging Congress to prevent a surprise tax on Paycheck Protection Program (PPP) loan recipients. Included in the Coronavirus Aid, Relief, and Economic Security (CARES) Act was a provision stating that any portion of a PPP loan that qualified for loan forgiveness “shall be excluded from gross income” for …

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Paycheck Protection Program Loan Recipients to be Disclosed

Today, December 1, the Small Business Administration (SBA) will reveal the identities of business owners who took coronavirus relief loans through the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) program. The SBA opposed this disclosure, which will be made in response to an order issued by U.S. District Judge James Boasberg …

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SBA Simplifies Forgiveness Process for Some PPP Loans

On October 19, 2020, the U.S. Small Business Administration (SBA) and the Treasury Department issued interim final rules (IFR) revising the process for some businesses to seek Paycheck Protection Program (PPP) loan forgiveness and lender evaluation of loan forgiveness applications submitted in accordance with the new process. These IFR offer additional guidance to further simplify …

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PIA, Allies Call for Congressional Action on PPP Loan Forgiveness

PIA National, along with dozens of allies in the business community, sent a letter November 19 calling on congressional leaders to reform the Paycheck Protection Program (PPP) loan forgiveness process before the end of the year. The letter calls on Congress to pass the Paycheck Protection Program Small Business Forgiveness Act (S. 4117/H.R. 7777), championed …

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House Committee Holds Hearing on Insuring for a Pandemic

On November 19, the House Financial Services Subcommittee on Housing, Insurance and Community Development held a hearing entitled, “Insuring Against a Pandemic: Challenges and Solutions for Policyholders and Insurers.” This follows a September Congressional Roundtable that PIA National participated in, where we expressed our support for the Pandemic Risk Insurance Act (PRIA), H.R. 7011. In …

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Initial Election Results Are In, With Some Key States Still Unknown

President Donald J. Trump and former vice president Joseph R. Biden each failed to reach the key 270 electoral-vote threshold from the states that had reported decisive results by midnight on Election Day. The process to determine the winner in several states is ongoing, and we may not know who will be inaugurated in January …

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Commissioner Spotlight: South Carolina Director Ray Farmer

In the latest entry in our Commissioner Spotlight series, we are focusing on the head of the South Carolina Department of Insurance (SCDOI), Director Ray Farmer. Dir. Farmer served as vice president of the American Insurance Association (AIA, now APCIA), a trade association for insurance carriers. He spent the early part of his regulatory career as …

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