YOUR WEEKLY MEMBER NEWS LETTER:
is a service provided only to members of the Nebraska Petroleum Markers & Convenience Store Association (NPCA). If you have any key personnel that would like to be added at no additional charge, please feel free to reply to
tkeigher@npcainc.com, katie@npcainc.com or call (402)-474-6691.
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Thank You to NPCA's Partners
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Senate Majority Leader Mitch McConnell (R-KY) has announced that the Senate will hold a vote on the Graham-Cassidy-Heller-Johnson (GCHJ) bill sometime next week via the budget reconciliation process, therefore, allowing the Obamacare repeal bill to pass by a simple majority without the threat of a Democratic filibuster. Their 140-page bill, H.R. 1628, would repeal the structure of Obamacare and replace it with annual block grants given to states to help individuals pay for health care.
Specifically, the Graham-Cassidy-Heller-Johnson (GCHJ) bill: Repeals Obamacare individual and employer mandates; Repeals the Obamacare medical device tax; Strengthens the ability for states to waive Obamacare regulations; Returns power to the states and patients by equalizing the treatment between Medicaid expansion and non-expansion states through an equitable block grant distribution; Protects patients with pre-existing medical conditions; and Eliminates the inequity of three states receiving 37 percent of Obamacare funds and brings all states to funding parity by 2026.
It is still unclear whether the bill has the votes (51) in the Senate to pass. As with the previous health care vote, all eyes will be focused on the votes of Sens. John McCain (R-AZ), Lisa Murkowski (R-AK), and Susan Collins (R-ME).
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Last week, PMAA signed onto a letter organized by the Family Business Coalition (FBC) that was sent to the Congressional members that are part of the "Big Six" group of Trump Administration and Congressional Republican negotiators, including Senate Majority Leader Mitch McConnell (R-KY), Speaker of the House Paul Ryan (R-WI), Senate Finance Committee Chairman Orrin Hatch (R-UT) and House Ways and Means Committee Chairman Kevin Brady (R-TX). In the letter, the FBC and PMAA call for the estate tax, otherwise known as the death tax, to be repealed in tax reform.
The groups argue that getting rid of the tax will spur the economy, while also making the case that it's so small that it provides just a sliver of federal revenue. The groups also note that a super-majority of likely voters oppose the death tax and would like to see it repealed, and say that the tax is unfair.
On September 18, the Treasury Department will make their final recommendation on Section 2704 estate and gift tax regulations. In accordance with Executive Order 13789, the Treasury Department will issue their final recommendations on "specific actions to mitigate the burden imposed by regulations identified in the interim report."
Meanwhile, PMAA continues to urge Congress not to repeal the step-up in basis. Under the current law, family members who inherit a business take the business at its value as of the date of the original owner's death. However, if the step-up in basis were eliminated, the family members would be required to pay capital gains taxes on the original owners' gains in the business. In short, rather than bequeathing his or her descendants a legacy, a successful small business owner who grew his or her business from scratch, would be bequeathing his or her descendants a large tax burden, which many families may be unable to pay without selling the business. There is absolutely no reason for the repeal of the estate tax and the repeal of the step-up in basis to go hand in hand.
PMAA urges Congress to reject any proposal to eliminate the step-up in basis as doing so would be extremely detrimental to a large number of America's small businesses.
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Senate Holds Hearing on Tax Reform for Businesses
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On Tuesday, the Senate Finance Committee held a hearing regarding tax reform for businesses. The hearing focused on discussion of the effects of a large, deficit-financed tax cut that some Republicans want to facilitate through reconciliation instructions in the FY 2018 budget resolution. The hearing was held prior to next week's release of a tax reform outline by the "Big Six" group of Trump Administration and congressional Republican negotiators, which Senate Finance Committee Chairman Orrin Hatch (R-UT) previously said would not determine the Committee's work on tax reform.
In the hearing, Hatch stated that the Committee will consider tax reform through regular order, which applies to the drafting and reporting of any tax reform bills, and that he hopes the process will be bipartisan. There are many areas of business tax reform where thoughts and interests of both Democrats and Republicans overlap, Hatch said, and "there is fertile ground for bipartisan agreement on this." Hatch said the U.S. statutory and effective tax rates are high relative to other nations, stating that "according to a recent analysis by Ernst and Young, when you integrate corporate-level taxes and investor-level taxes such as those on dividends and capital gains, U.S. tax rates are the second highest among developed countries," he said. "That last one is important, given that the United States taxes most corporate earnings that are distributed to shareholders twice - both at the corporate and shareholder levels."
Witnesses at the hearing included Scott A. Hodge (President, Tax Foundation), Donald B. Marron (Institute Fellow, Urban Institute & Urban-Brookings Tax Policy Center), Troy K. Lewis (American Institute of CPAs) and Jeffrey D. DeBoer (President and Chief Executive Officer, The Real Estate Roundtable). Hodge listed four priorities for business tax reform: full expensing; a competitive corporate tax rate such as 20 percent; moving to a territorial system; and making all such changes permanent. Marron said because "the boost to near-term growth may be modest," dynamic scoring by the Joint Committee on Taxation will "play only a small role in paying for tax reform." Lewis recommended codifying traditional definitions of "reasonable compensation" to address the distinction between profits of the business and compensation of owner-operators under a lower pass-through rate. Lastly, DeBoer said the deductibility of business interest should not be repealed or limited, and that expensing should not apply to buildings.
It remains to be seen if, and when, a tax reform package will come to the floors of the House and Senate for votes. In order to proceed to tax reform, Congress must first pass a budget. As House and Senate Republicans continue to discuss tax reform, disagreements continue within the party as to whether the House and Senate budget resolutions demand the reforms to be deficit neutral or allow for revenue losses.
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New WOTUS Rule to Be Proposed Next Year
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Earlier this week, while speaking at the Concordia Annual Summit in New York, EPA Administrator Scott Pruitt said a new version of the Waters of the U.S. (WOTUS) rule will now not likely come until the first quarter of 2018. Last month, Pruitt stated that he expected the proposed rewrite of the rule to be unveiled by the end of 2017.
The rule is important to petroleum marketers because it defines how far federal clean water regulations extend into local land use and permitting decisions including the construction of new gasoline stations and surface water runoff from parking and fueling areas. EPA is also working to repeal the Obama administration's 2015 WOTUS rule that could adversely affect many petroleum marketers with bulk storage.
Last month, the EPA extended the public comment period for commenting on its efforts to repeal the rule by one month, until September 27.
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Interstate HOS Waiver Extended Through End of Disaster or October 5
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The Federal Motor Carrier Safety Administration (FMCSA) has extended the regional CDL driver Hours of Service (HOS) waiver through October 5, 2017. The original HOS waiver obtained by PMAA on August 31 was set to expire on September 30.
The latest HOS extension, like the original waiver, applies to interstate drivers only. Intrastate HOS extensions must be obtained through governors offices on the state level.
The interstate extension applies to the following states:
ALABAMA, CONNECTICUT, DELAWARE, DISTRICT OF COLUMBIA, FLORIDA,GEORGIA, MAINE, MARYLAND, MASSACHUSETTS, MISSISSIPPI, NEW HAMPSHIRE, NEW JERSEY, NEW YORK, NORTH CAROLINA, PENNSYLVANIA, RHODE ISLAND, SOUTH CAROLINA, TENNESSEE, VERMONT, VIRGINIA, WEST VIRGINIA, COMMONWEALTH OF PUERTO RICO AND THE TERRITORY OF THE U.S. VIRGIN ISLANDS.
The interstate HOS waiver extension is effective immediately and shall remain in effect for the duration of the emergency or until 11:59 P.M. (ET), October 5, 2017, whichever is less.
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According to House Republican aides, many House Republicans believe the bipartisan energy bill introduced by Sen. Lisa Murkowski in June is "too moderate" and will likely not be considered by the House until next spring at the earliest. According to the sources, House Republicans want to see language that strips the Department of Energy (DOE) of its authority in approving LNG export projects in any energy bill package. The sources added that inserting language similar to bills introduced by Sens. Ted Cruz (R-TX) and Bill Cassidy (R-LA) in June, which would require the DOE to automatically approve LNG export applications to any country that is not on a U.S. sanctions list, would significantly help the bill's chances of being passed in the House.
Sen. Murkowski's bill is very similar to the energy bill that passed in the Senate last year. S. 1460, known as the "Energy and Natural Resources Act of 2017," contains provisions that would improve electric reliability and energy efficiency; promote the development of hydropower, geothermal, and methane hydrates; enhance cyber security efforts; bolster mineral security; and repeals a range of obsolete authorities currently within the U.S. Code.
The bill would require the DOE to approve or deny the use and operation of an LNG export facility no later than 45 days after an environmental review is conducted by the Federal Energy Regulatory Commission (FERC). It would also require the DOE to gather and distribute data on the destinations of LNG exports. However, the bill would also streamline the coordination between federal agencies when reviewing a natural gas pipeline application.
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FINAL CALL: Please Pre-Register NOW for PMAA'S Fall Meeting October 16-17
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PMAA will hold its Fall Meeting in conjunction with the NACS Show on October 16-17 at the Hilton Chicago. The PMAA meeting will begin with a New Attendee Orientation mid-afternoon on October 17 followed by a Board Briefing. A welcome reception with NACS to State Association Leaders will follow at McCormick Place. On the morning of October 17, there will be a Buffet Breakfast followed by Region and Committee Meetings. The PMAA Board of Directors Meeting is scheduled after the Distinguished Service Award Luncheon sponsored by PMAA's
Corporate Platinum Partner
Federated Insurance. Former Arkansas Association Executive Ann Hines is this year's recipient of PMAA's highest honor.
For all details on Hotel and Travel, please view here. Please click here for our event website for all details including registration with secure event payment processing through Cvent.
Pre-registration is recommended to expedite your time during the conference, to assist us with our hotel guarantees and to have a name badge ready for you.
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We look forward to seeing you in Chicago!
PMAA Corporate Platinum Partner Spotlight Featuring: Federated's Risk Management Corner
It's Back to School Time
When you were a kid, going to school and getting passing grades was not optional-it was expected. And if you did not score well on assignments and quizzes, it would most certainly show up on your report card. Reflecting on all the classes and assignments, it's evident now that your teachers were training you for something you would probably need later.
Please click here to read the article in its entirety. For additional information or to discuss further, please contact your Federated regional representative or PMAA's National Account Executive Jerry Leemkuil at 800.533.0472.
Federated is a PMAA Corporate Platinum Partner.
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In today's competitive market of background screening, companies are always looking for a competitive edge. Some have turned to performing social media searches. However, there are a multitude of problems with social media searches.
Particularly for your younger job applicants, it would be safe to say that many, if not most of them, have one or more social media accounts. Whether it's Facebook, Twitter, Snapchat, or any of the others, they are freely exposing aspects of their personal lives all around the globe.
To read the article in its entirety, please view here. Please note that the general information provided is not a substitute for legal advice. Please consult with your legal counsel regarding these topics and other general employment questions.
Laborchex, a PMAA Vendor who has been serving clients nationwide since 1991, provides a program of background checks for PMAA members. For more information and to discuss your needs, please review PMAA's current program, email PMAA's New Account Consultant Ricky Rayborn or call him directly at 601.832.2174.
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Purchase your PMAA Small Business Committee (SBC) PAC raffle tickets now for an opportunity to win your own Tom Brady New England Patriots Collage.
Tom Brady is an American football quarterback for the New England Patriots of the National Football League (NFL). He is one of only two players to win five Super Bowls and the only player to win them all playing for one team. Each piece comes designed with photographs, season schedule, a team logo, and a piece of game-used football, all framed in black wood. The product is officially licensed by the National Football League. This collectible is a limited edition of 1,000.
The PMAA SBC PAC will hold the raffle during the Fall Meeting in Chicago October 16-17 and the raffle winner will be identified during the Board Meeting on October 17. The winner does not have to be present to win. If you are not attending the conference, you will be notified the week following the October drawing if you are the fortunate owner of the Tom Brady New England Patriots Collage.
The proceeds of the raffle will benefit the PMAA SBC PAC. The money distributed to the PAC is used to benefit federal legislators who support the industry and have a solid record on key industry legislative issues. Tickets are $25 each or five for $100. Advanced tickets are available until October 13 by contacting Sabrina Pitcher at 703-351-8000. Ticket sales will continue at PMAA's Fall Meeting in Chicago until the drawing on October 17. Tickets must be paid for with personal funds by MasterCard, VISA, American Express, cash or check (checks should be made out to the PMAA Small Business Committee).
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Get your PMAA Marketer Defense Fund (MDF) raffle tickets now for a chance to win an Amazon Echo and Echo Dot!
The PMAA Marketer Defense Fund (MDF) will hold a raffle during the Fall Meeting in Chicago October 16-17 conference and the raffle winner will be identified during the conference on October 17. The winner does not have to be present to win. If you are not attending the conference, you will be notified the week following the October drawing if you are the fortunate owner of the Amazon Echo and Echo Dot.
The proceeds of the raffle will benefit the PMAA MDF. PMAA established the Marketer Defense Fund, sometimes referred as the 535 Fund or MDF, as a method to obtain corporate donations for priority projects. The MDF Program is different from PMAA's Small Business Committee PAC and is designed to supplement PMAA's lobbying budget to cover priority projects, i.e., some aspects of a political event or for public relations campaigns related to a legislative initiative. For example, part of the monies collected for the MDF have been used for research projects to defeat regulatory initiatives such as an efforts to mandate a 10 micron diesel filter, wetlines retrofit, as well as automatic temperature compensation (ATC) at retail. The MDF has saved marketers approximately $1.3 billion which equals $162,500 per marketer. Additionally, the MDF has been used on:
- A diesel fuel corrosion study
- Hiring outside consultants to represent PMAA at several regulatory agencies
- Paying for PMAA marketer travel for important underground storage tank (UST) meetings
- Splash blending litigation
- Interchange fee coalition activities
- Supporting local charity events.
A marketer can make corporate contributions by check or credit card to this program and there is no limit on the amount of contribution. All the money is used to support PMAA lobbying goals. You can donate online by clicking here.
Tickets are $25 each or five for $100. Advanced tickets are available until October 13 by contacting Susan Isard or 703-351-8000. Ticket sales will continue at PMAA's Fall Meeting in Chicago until the drawing on October 17. Tickets can be purchased with personal or corporate funds by MasterCard, VISA, American Express, cash or check (checks should be made out to the PMAA Marketer Defense Fund).
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Nebraska Petroleum Marketers and Convenience Store Association | (402) 474-6691 |
www.npcainc.com |
1320 Lincoln Mall, Suite 100B
Lincoln, NE 68508
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