The National Association of Manufacturing is in contact with federal officials who are overseeing the response to COVID-19, and working to share information and address concerns. Click here to see their COVID-19 resources.
For an overview of the NAM’s response to the pandemic, click here to view 2020: Made for This (NAM Leadership Through Crisis)
Paycheck Protection Program: The Small Business Administration has issued a new loan forgiveness application form for Paycheck Protection Program borrowers that received a loan of $50,000 or less. The new form is designed to make the process easier and only requires attestation that businesses complied with the terms of the program rather than the calculations and documentation required of larger borrowers. You can view the new forgiveness application form here.
Credit Insurance for Manufacturers: The current recession driven by COVID-19 has elevated the importance of credit insurance for small to mid-sized manufacturers. Many companies use credit insurance to provide supply chain financing and protect their accounts receivable from customer default or bankruptcy (the Wall Street Journal recently put a spotlight on this issue). The NAM seeks feedback from CMA members on the extent to which your members are being impacted by reduced coverage, rising premiums or other restrictions to credit insurance. If you have examples of these challenges, or would be interested in discussing potential policy proposals to address this, please contact me at [email protected]. Your feedback will be helpful as the NAM further explores possible work on this issue with CMA partners.
State Ballot Initiatives: The NAM’s Manufacturers’ State Affairs Program hosted a program on state ballot initiatives. Click here for a recording of the MSAP Ballot Initiative Briefing with Ballotpedia, the Alaska Chamber of Commerce, official NAM state partner and the Alliance for Automotive Innovation, NAM CMA partner. The discussion includes an overview of ballot measures and trends to watch across the country that could impact manufacturers, as well as key insights into Massachusetts Ballot Initiative One “Right to Repair Law” and Alaska Ballot Initiative One “North Slope Oil Production Tax Increase Initiative”.
Remote Workforce: Five months ago, 80% of workers were expected to return to their job site according to a survey by global consulting firm, McKinsey and Co. However, as the spread of COVID-19 continues, remote work is expected to remain a fixture in the American workplace. The pandemic has also increased efforts to control business costs by boosting flexibility. As a result, 78% of executives now plan to hire more temporary workers and freelancers for on-site work in the next two years. Read more here.
NAM Elections Webinar Series: Mark your calendar for the following election update s we’ve planned for NAM members:
Election Guide 2020: Since Election Day is right around the corner, MultiState has been hard at work preparing the information, analysis, and resources you need to make sense of all the races. They’ve launched their 2020 Election Guide which you can find here. This guide is a source for up-to-date and accurate state election analysis and results.
PMMI has curated a list of useful resources and organized them into a variety of categories for your reference, below, with links to trusted resources available:
Business and Tax Policy Update: COVID-19 Relief for PMMI Members
Click here to view the full list of virtual town hall webinars.