The debate over the state and local tax deduction cap (SALT cap), a key element of the federal Tax Cuts and Jobs Act of 2017, continues to be a polarizing issue in American politics. The tax overhaul signed by President Trump instituted a $10,000 cap on SALT deductions, stirring a controversy that extends from Capitol Hill to state legislatures, [...]
The U.S. Department of Labor (DOL) issued a new proposed rule on October 11 that rescinded a rule promulgated by the Trump administration for independent contractors that modified Title 29 of the Code of Federal Regulations addressing whether workers are employees or independent contractors under the Fair Labor Standards Act. This is the current administration’s second attempt to rescind [...]
Beginning today, employers can elect to defer the 6.2% Social Security payroll tax of its employees that is normally deducted from a paycheck. This was made possible through the recent executive order from President Trump. Employers have to make the determination if this short-term employee relief is worth the tradeoff. The deferral only applies to wages paid beginning on [...]
- With President Trump signing the Paycheck Protection Program (PPP) Flexibility Act into law last week, it triggered the easing of conditions for small businesses. Said U.S. Senator Mike Braun, “This (new) legislation will help restaurants and other businesses by extending the PPP loan use from two months to six, allowing companies to defer their payroll taxes, and lowering [...]
The Indiana Chamber has signed onto a coalition letter regarding provisions in S. 1790 and H.R. 2500, the National Defense Authorization Act for Fiscal Year 2020, addressing the regulation of per- and polyfluoroalkyl substances (PFAS). The letter recommends that any congressional action enable the appropriate agencies to carry out the risk-based approach established in existing U.S. environmental law and [...]
Over the last month, the Indiana Chamber of Commerce has gone public with concerns over tariff hikes with China and Mexico, cautioning they could lead to devastating effects for the Hoosier business community. We have been in communication with Indiana’s congressional delegation and the Trump administration. The Chamber is pleased our federal representatives and senators appear united against the [...]
(INDIANAPOLIS) — Indiana Chamber of Commerce President and CEO Kevin Brinegar reacts to statements from President Trump that the United States will potentially implement tariffs on goods imported from Mexico: “Using economic threats against our neighbor and one of our country’s largest trading partners to compensate for unfulfilled promises by the administration and Congress on immigration is an irrational – and [...]
(INDIANAPOLIS) — The Indiana Chamber of Commerce is cautioning that the recent tariff hikes on Chinese goods could lead to devastating effects for the Hoosier business community. The Trump administration has increased an existing 10% tax on many imports to 25%. China has said it will retaliate with its own similar tax increase on $60 billion in U.S. goods. [...]
The Indiana Chamber is hearing from an increasing number of Hoosier businesses concerned about the Trump administration’s position on tariffs, which has put the country at odds with six of America’s top seven foreign markets. These countries account for more than half of all U.S. exports. What started as a just attempt to protect American steel and aluminum from [...]
(INDIANAPOLIS) — Concern continues to build in the business community regarding the Trump administration’s position on tariffs, which has put the country at odds with six of America’s top seven foreign markets. Indiana Chamber of Commerce President Kevin Brinegar explains the dilemma: “What started as a just attempt to protect American steel and aluminum from cheap imports has now transformed [...]
