Bill to Fix COVID-19 Payroll Loan Program, Supported by AFS, Signed by President
Congressman Brady Discusses Solutions for Reopening the Economy Across the Country
The American Foundry Society held a virtual discussion on June 2 hosted by the AFS Government Affairs Division with U.S. Rep. Kevin Brady (TX-8), a 23-year veteran of Capitol Hill and the top Republican on the Ways and Means Committee. The congressman kicked off his remarks by evaluating the work done by Congress so far to combat the effects of the global pandemic.
AFS Urges Congress and Administration to Fix Paycheck Protection Program
The American Foundry Society, along with a coalition of more than 130 small business organizations, is calling on Congress to make critical changes to the U.S. Small Business Administration’s (SBA) Paycheck Protection Program (PPP) so small manufacturers, including foundries, have more flexibility and the opportunity to remain operational throughout COVID-19.
AFS Unveils Reports Showing U.S. Metalcasters Account for $44.3 Billion in Direct Economic Benefit
The U.S. metalcasting industry accounts for $44.3 billion in direct economic benefit and a total national economic impact for the U.S. of $110.52 billion, according to a new study released today by the American Foundry Society.
IRS Revises Guidance on Employee Retention Credit in PPP Loans
Following outcry from the business community and Congress, the IRS reversed course on May 8, saying businesses can get the new employee retention tax credit even if they are paying health benefits but not wages for workers.
AFS Urges FERC to Delay Comment Deadline on Rulemaking to Hike Electricity Transmission Rates
AFS Calls on Congress to Pass Legislation for Increased Funding for the Paycheck Protection Program
AFS Advocacy Summit to Feature Labor Sec. Scalia
New Small Business Loans Under the CARES Act Open April 3: Eligibility, Application, and Key Terms/Benefits
The CARES Act includes the Paycheck Protection Program (PPP) for small businesses. The PPP provides short-term cash flow assistance to small businesses, including foundries, and their employees deal with the immediate economic impact of the COVID-19 pandemic. Loans are made by lenders certified by the Small Business Administration (SBA) and guaranteed by the federal government. The SBA will administer the PPP.