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