COVID Relief/Lame Duck
With the year quickly winding down and the pandemic surging across the country, it is looking increasingly likely that a targeted COVID relief package could come together during the lame duck session. A bipartisan proposal currently being circulated would include a boost of federal unemployment benefits as well as key priorities of both sides, including state and local aid pushed by Democrats and short-term liability protections for businesses wanted by Republicans. With discussions ongoing, it is unclear which items might ultimately make it into a final agreement, but it would likely be attached to a bill to fund the government, which must be passed by December 11 when current funding expires.
Paycheck Protection Program
AIADA joined a coalition of business groups on a letter to congressional leadership, asking that Congress pass legislation to clarify that Paycheck Protection Program (PPP) loan forgiveness must be given tax-free treatment. While this was always Congress’ intent, the Internal Revenue Service (IRS) threw the matter into question when it issued a ruling in the spring that business expenses paid with forgiven PPP funds could not be written off as normal tax deductions.
Quote of the Week
“All the dealers that I’ve come in touch with and talked to throughout the year - that comment still resides with me. Dealers will survive. Dealers will thrive. And I know coming out of this [pandemic] that statement rings true.”
-Jason Courter, AIADA Chairman (Beltway Talk podcast)
Must Listen
Check out the latest Beltway Talk podcast, The Year That Was, in which AIADA Chairman Jason Courter takes a look back at his year at the helm of the association.
Friday Feel Good
Here are just a few recent examples of how the international nameplate auto industry is doing good in communities across the US during the pandemic:
Parker Honda in North Carolina is serving as a Toys for Tots drop off location this holiday season, as well as donating a bicycle in the customer’s name for each new car sold through December 18.
Toyota of Boerne in Texas held its 10th Turkeys for Troops event on November 20. In addition to turkeys, Walmart gift cards were given away to military personnel and their families courtesy of Toyota of Boerne, Walmart, Security Service Federal Credit Union, iHeartRadio San Antonio, Keurig Dr. Pepper Snapple/7Up/Big Red, and KSAT TV.
Mitchell Automotive Group in Alabama continued its partnership with local outreach group Christian Mission to deliver Thanksgiving meals to people in need this year.
We want to hear more about how you are supporting your local community during this difficult time – tweet us at @AIADA_News and use the hashtag #DealersDoGood.
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