Vending Market Watch: NAMA leads multi-industry business coalition urging Biden administration, Congress to restore Employee Retention Tax Credit
January 19, 2022
The National Automatic Merchandising Association today delivered a letter on behalf of a multi-industry coalition urging the Biden administration and Congress to restore the Employee Retention Tax Credit (ERTC).
Signed by 51 trade associations and charitable nonprofits representing small businesses, the letter notes that the now-prolonged recovery has stalled rehiring and cast a veil of financial uncertainty over the nation’s small businesses.
“Many NAMA members, just like other small business owners all over the nation, have been stretched beyond the breaking point by the lengthy on-again, off-again recovery,” said Mike
Goscinski, NAMA’s senior director or external affairs. “Restoration of the ERTC for Q4 2021 as promised is essential for these businesses who forecasted its use to keep employees on the payroll.”
In December 2021, the bipartisan Employee Retention Tax Credit Reinstatement Act was introduced in the U.S. House of Representatives by U.S. Reps. Carol Miller (R-WV), Kevin Hern (ROK), Stephanie Murphy (D-FL), and Terri A. Sewell (D-AL).
The legislation would reinstate tax relief previously established by Congress to offset a small portion of employee wages in fourth quarter of 2021 – about $193 million for the convenience services industry. Access to these funds was cut during infrastructure funding negotiations.
One of the few financial safety nets available to the convenience services industry, ERTC was a vital lifeline to these small businesses, Goscinski underscored. Even with ERTC assistance, NAMA estimates that nearly one in three (28.7%) convenience services industry jobs has been lost due to the COVID-19 pandemic.
The trade associations signing the letter are:
Agudath Israel of America
American Alliance of Museums
American Heart Association
American Hotel and Lodging Association
American Rental Association
American Society of Travel Advisors (ASTA)
Americans for the Arts
Associated Builders and Contractors
Association of Art Museum Directors
Boys and Girls Club of America
Catholic Charities USA
Council on Foundations
Dance/USA
Drycleaning & Laundry Institute
ETS
Faith & Giving
Girl Scouts of the USA
Goodwill Industries International Inc.
Habitat for Humanity International
Hotel Association of New York City
IHRSA, The Global Health & Fitness Association
Independent Sector
International Association of Amusement Parks and Attractions
International Franchise Association
International Inbound Travel Association
JCC Association of North America
Jewish Federations of North America
KaBOOM!
League of American Orchestras
Live Events Coalition
Lutheran Services in America
Meals on Wheels America
Mental Health America
National Automatic Merchandising Association (NAMA)
National Community Action Partnership
National Council of Nonprofits
National Federation of Independent
Business (NFIB)
National Restaurant Association
National Tour Association
Network of Jewish Human Service Agencies
OPERA America
Outdoor Amusement Business Association
Social Current
The Payroll Group
Theatre Communications Group
United States Tour Operators Association
United Way Worldwide
Volunteers of America
YMCA of the USA
YWCA USA