Bill on Bankruptcy: ResCap Report, a Bargain at $83 Million
President Biden signed an executive order on May 20 on climate-related financial risk that seeks to change the rules regarding the use of environmental, social, and governance (ESG) investments in retirement plans. The order...more
The New Markets Tax Credit (NMTC) program was extended through 2025 with a $5 billion annual appropriation as part of the Consolidated Appropriations Act, 2021, signed by President Trump on December 28, 2020. Before the...more
Congress’s 5593-page Consolidated Appropriations Act, passed by the Senate on December 21, 2020, and signed by the President last night (December 27, 2020), includes an extension of employer tax credits for leave provided...more
On September 30, 2020 the President signed the Continuing Appropriations Act, 2021 and Other Extensions Act, to fund the U.S. government through December 11, 2020. The Act also addresses USCIS revenue shortfalls and the need...more
On August 8, 2020, President Trump signed four documents—three Presidential Memoranda and one Executive Order—aimed at directing further COVID-19 relief. Two of the memoranda related to unemployment assistance and deferred...more
In the CARES Act that became law with President Trump’s signature on March 27, $100 billion has been set aside for “health care related expenses or lost revenues that are attributable” to the COVID-19 pandemic. Commonly...more
While Congress continues to work on a legislative deal, President Trump signed Executive Memoranda and Executive Orders that are designed to provide additional stimulus to address the ongoing economic ramifications of the...more
On July 4, President Trump signed into law a bill extending the period during which borrowers can apply for paycheck protection program (“PPP”) loans from June 30 to August 8. The PPP loan program is part of the governmental...more
In Washington: The House unanimously passed a bill to revive the $670 billion small business aid program hours after it shut down on Wednesday, extending the Paycheck Protections Program (PP) until Aug. 8. The Senate had...more
On Wednesday evening, the U.S. Senate passed the Paycheck Protection Program Flexibility Act (the “Act”), which amends the CARES Act to provide businesses with greater flexibility in the use of PPP funds. President Trump...more
On June 5, 2020, the President signed the Paycheck Protection Program Flexibility Act of 2020 (the “Act”), a bipartisan measure aimed at providing additional flexibility and extended relief to small business borrowers under...more
In the wake of the massive economic disruption caused by the Coronavirus outbreak, Congress enacted the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020. The Payroll Protection Program...more
President Donald Trump issued an Executive Order giving Treasury Secretary Steve Mnuchin the authority to defer certain duties and tariffs “for importers suffering significant financial hardship because of COVID-19.” The...more
The U.S. Senate recently voted to approve legislation previously passed by the U.S. House of Representatives to extend the National Flood Insurance Program (NFIP) until November 21, 2019. ...more
The denial rate for H-1B petitions spiked through the first quarter of Fiscal Year 2019 to over five times what the rate was just four years ago. That’s according to a report published by the National Foundation for American...more
Last week, USCIS clarified that it is not considering changing its interpretation of the H-1B extension of status provisions offered in the American Competitiveness in the Twenty First Century Act (AC21)....more
Groundbreaking Held for New Methanol Plant in Kanawha County, West Virginia - "US Methanol expects it will open its first American facility, Liberty One, in mid-2018, which will be capable of producing 200,000 metric tons...more
On September 5, 2017, the Trump administration announced that it is rescinding the Deferred Action for Childhood Arrivals (DACA) program. DACA grants eligible individuals employment authorization and promises a grant of...more
As our readers may recall, last year we devoted a good amount of time addressing the Department of Labor’s (DOL) final rule on overtime exemptions. Under that rule, which was supposed to go into effect on December 1, 2016,...more
On January 13, 2017, President Obama issued Executive Order 13761 to be effective on July 12, 2017, which would revoke prior executive orders underlying the Sudanese Sanctions Regulations and effectively terminate the Sudan...more
The controversial new fiduciary regulation of the U.S. Department of Labor (the “DOL”), together with related new and amended “prohibited transaction” exemptions (collectively, the “Rule”), had been scheduled to become...more