NAM Update 3.31.20
already discussing the contents of “phase four” relief and recovery
legislation. So while our focus is on the quick implementation of the “phase
three” CARES Act provisions, which will be a lifeline for many employers and
employees, the National Association of Manufacturers is also moving quickly so
that we can achieve more progress when Congress reconvenes. It was just 22 days
ago that the NAM proactively released our “COVID-19
Policy Action Plan Recommendations.” We’ve already secured many of the
goals outlined, and we intend on getting much more done for you.
Here are some
of the other recent developments:
Treasury Guidance on Small Business Loan Program, Employee Retention Credit
afternoon, the Treasury Department issued new guidance on the CARES Act’s $350
billion loan fund for small businesses during the COVID-19 pandemic. Small
businesses and sole proprietorships can apply for loans through the “Paycheck Protection Program” starting
April 3, while self-employed individuals and independent contractors can apply
starting April 10. More detailed information for borrowers can be found here and an application can be found here.
Department also launched the Employee Retention Credit today, which you can
learn more about here. The Senate
Finance Committee released an FAQ document on the credit here.
Helping You Fill Open Positions
Manufacturing Institute, the workforce and education partner of the NAM, is
hearing from many of you about open positions as your businesses ramp up
production to meet the needs of our country’s COVID-19 response. To answer your
call, the MI is tapping into its workforce development partner network to help
companies fill their open positions. If your company has open positions and you
would like to get the word out about these jobs, or if you have a reskilling or
upskilling story you want told as you and your workforce gear up for this
response, send an email to MIresponds@nam.org.
Leave Requirements go into Effect Tomorrow, April 1
tomorrow, April 1, businesses with fewer than 500 employees will need to
provide employees with paid time off for a variety of reasons relating to
COVID-19. Under the Families First Coronavirus Response Act, eligible employers
will need to provide two weeks of paid leave for workers who are quarantined
(due to federal, state or local government order or advice of a health care
provider) and/or experiencing COVID-19 symptoms and seeking a medical
diagnosis. Eligible employers will also need to provide up to 10 weeks of paid
leave for workers who need to care for children whose school or child care
facilities are closed. Read more about the Department of Labor’s employer
requirements here. Employers will have
to post notice of these changes in a
similar manner to other poster requirements. Businesses with fewer than 50
employees and those that produce medical products or COVID-19-related medical
equipment may be eligible to receive exemptions from the paid leave
requirements. Read more about exemptions here.
Read the NAM’s
comments urging the DOL to quickly clarify the paid leave requirements and
reduce unnecessary regulatory costs here.
Monitoring Global Essential Business Guidance
In addition to
our work at the state and local level, which we have shared with you, the NAM
is actively monitoring essential business and critical infrastructure actions
that affect our members’ operations globally, with a particular focus on the
importance of North American supply chains. Yesterday, Mexico issued a summary presentation with guidance regarding
essential infrastructure and operations, and you can read the unofficial
English translation here.
continue to monitor essential business and critical infrastructure actions in
Canada, Mexico and globally, with regular updates to be included in the NAM’s
critical infrastructure guidance compendium document here. Contact
NAM Senior Director of International Economic Affairs Ken Monahan with any
of NAM–MLC Small and Medium-Sized Manufacturers Webinar
A recording of
Friday’s NAM and Manufacturing Leadership Council–hosted call with the Small
Business Investor Alliance discussing the challenges facing small and
medium-sized manufacturers is available here.