Wondering how recent government actions and regulations might affect your nonprofit? Check out our policy roundup: collection of nonprofit-relevant policy updates all summarized into one newsletter.
Sneak Peek Below!
Federal Updates
Vaccination Requirements
The Supreme Court heard oral arguments January 7, 2022 on the Biden Administration’s vaccination requirements intended to cover nearly 100 million workers. On January 13, the Supreme Court reinstated the stay of the OSHA Emergency Temporary Standard but allowed the CMS Interim Final Rule to remain in effect. The CMS Rule requires vaccinations for all staff of employers receiving payments from federal healthcare programs.
ERTC Reinstatement Act
In December, a bipartisan group of lawmakers introduced the Employee Retention Tax Credit Reinstatement Act in the House of Representatives (H.R. 6161). The bill would reinstate the ERTC through the end of 2021, as it was originally written. The bill now has 35 co-sponsors and is expected to be introduced in the Senate soon. Nonprofit New York has endorsed the legislation.
Universal Charitable Deduction
The bipartisan Universal Giving Pandemic Response and Recovery Act (S. 618, H.R. 1704) would raise the $300/$600 cap on the non itemized charitable deduction to roughly $4,000 for individuals and $8,000 for couples. The Charitable Giving Coalition circulated a letter to Congressional leaders in December urging Congress to pass this legislation signed by more than 400 charitable nonprofits.
Student Loan Repayment Moratorium Extended
The U.S. Department of Education announced an extension of the pause on student loan repayment, interest, and collections through May 1, 2022. This extension continues to fulfill Public Service Loan Forgiveness (PSLF) obligations as payments made to the program.
Student Loan Repayment Moratorium Extended
On January 6, 2022, the U.S. Department of the Treasury issued the Final Rule for the State and Local Fiscal Recovery Funds (SLFRF) program, enacted as a part of the American Rescue Plan, which delivers $350 billion to state, local, and Tribal governments to support their response to and recovery from the COVID-19 pandemic. The 437-page final rule updates the interim final rule published in May. Treasury includes reference to nonprofits in all places reference is made to small businesses.
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