Small Business Archives - Automotive Service Association - National https://www.asashop.org Tue, 20 Feb 2024 19:26:01 +0000 en-US hourly 1 https://wordpress.org/?v=6.1.1 https://growthzonesitesprod.azureedge.net/wp-content/uploads/sites/1406/2019/12/cropped-favicon-32x32.png Small Business Archives - Automotive Service Association - National https://www.asashop.org 32 32 Virginia Legislature Advances Bill that would Increase Insurers’ Obligation to Act in Good Faith https://www.asashop.org/2024/02/20/virginia-legislature-advances-bill-that-would-increase-insurers-obligation-to-act-in-good-faith/ Tue, 20 Feb 2024 19:26:01 +0000 https://www.asashop.org/?p=64956 Virginia Legislature Advances Bill that would Increase Insurers’ Obligation to Act in Good Faith The Virginia House of Delegates' Courts of Justice Committee: Civil Subcommittee advanced SB 256 with 8 votes in favor and none opposed. It passed the full state senate on a 25-15 vote. If enacted into law, SB 256 would obligate auto…

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Virginia Legislature Advances Bill that would Increase Insurers’ Obligation to Act in Good Faith

The Virginia House of Delegates' Courts of Justice Committee: Civil Subcommittee advanced SB 256 with 8 votes in favor and none opposed. It passed the full state senate on a 25-15 vote.

If enacted into law, SB 256 would obligate auto insurance companies to make claims decisions in good faith. Insurers would have to pay double a court's judgement - plus interest, attorney fees, and other related expenses - if the court finds that an insurer - acting in bad faith - "rejects a reasonable settlement demand made by the insured within the policy's coverage limits for uninsured or underinsured motorist benefits or fails to respond within a reasonable time after being presented with such demand after the insured has become legally entitled to recover."

Currently in Virginia, insurance companies are not required to make decisions in good faith under these circumstances, as determined by a 2017 court case.

Click here to read the full legislation. 

Click here to watch the most recent subcommittee hearing at which SB 256 was deliberated and advanced. 

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]]> U.S. House Passes Bipartisan Tax Bill Supported by ASA https://www.asashop.org/2024/02/01/u-s-house-passes-bipartisan-tax-bill-supported-by-asa/ Thu, 01 Feb 2024 16:19:48 +0000 https://www.asashop.org/?p=64898 U.S. House Passes Bipartisan Tax Bill Supported by ASA The United States House of Representatives has passed the bipartisan Tax Relief for American Families and Workers Act of 2024 (H.R. 7024). It easily surpassed the two-thirds vote threshold needed to pass under the expedited rules. The bill received 357 votes in favor and 70 opposed.…

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U.S. House Passes Bipartisan Tax Bill Supported by ASA

The United States House of Representatives has passed the bipartisan Tax Relief for American Families and Workers Act of 2024 (H.R. 7024). It easily surpassed the two-thirds vote threshold needed to pass under the expedited rules. The bill received 357 votes in favor and 70 opposed. ASA supports this legislation.

Some of the key changes H.R. 7024 would make to the tax code, if ultimately enacted, would include:

  • Reclassifying interest paid on certain business loans as allowable deductions.
  • Providing for a 100 percent bonus depreciation allowance for qualified property – such as equipment and vehicles – acquired and placed in service between December 31, 2022, and January 1, 2026.
  • Raising the maximum amount a business may expense for qualifying property from $1 million (reduced by the amount by which the cost exceeds $2.5 million) to $1.29 million (reduced by the amount by which the cost exceeds $3.22 million), adjusting for inflation for taxable years after 2024.
  • Changing how the maximum refundable credit is calculated by including consideration for the number of children in a household.
  • Increasing the maximum per-child limit from $1,600 to $1,800 for tax year 2023, along with annual increases to the cap adjusted for inflation each ensuing year through 2025.

H.R. 7024 now awaits consideration in the U.S. Senate, where it must pass before it can be signed into law by the President.

Click here for a comprehensive summary of all the bill's provisions. 

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]]> ASA Launches “Repair Policy Scan Tool” Legislative Newsletter https://www.asashop.org/2024/01/30/asa-launches-repair-policy-scan-tool-legislative-newsletter/ Tue, 30 Jan 2024 16:06:02 +0000 https://www.asashop.org/?p=64880 ASA Launches “Repair Policy Scan Tool” Legislative Newsletter Lawmakers rely on constituent feedback to make good decisions. Staying informed about the laws they are considering that could impact an auto repair shop owner or operator's ability to run a successful business empowers repairers to speak up in crucial moments. But it's hard to keep up…

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ASA Launches “Repair Policy Scan Tool” Legislative Newsletter

Lawmakers rely on constituent feedback to make good decisions. Staying informed about the laws they are considering that could impact an auto repair shop owner or operator's ability to run a successful business empowers repairers to speak up in crucial moments. But it's hard to keep up with the news, especially when your hands are already full with the responsibilities and pressures of running a business. ASA is launching a tool to make it easier.

Every two weeks or so, ASA will send out a new edition of "Repair Policy Scan Tool." Of the thousands of bills introduced each year in Congress and state legislatures, this newsletter will help distill the legislative developments that matter most to auto repair professionals on just one easy to read page.

Click here to read the first installation of Repair Policy Scan Tool!

Click here to sign up to get future Repair Policy Scan Tools emailed to you. 

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]]> ASA-Endorsed Federal Tax Bill Passes Committee, Full House Could Happen this Week https://www.asashop.org/2024/01/29/asa-endorsed-federal-tax-bill-passes-committee-full-house-vote-expected-this-week/ Mon, 29 Jan 2024 17:11:50 +0000 https://www.asashop.org/?p=64870 ASA-Endorsed Federal Tax Bill Passes Committee, Full House Could Happen this Week A bipartisan federal tax bill, endorsed by ASA, passed the U.S. House Ways & Means Committee with 40 votes in favor and 3 votes against. Congressional sources say the full U.S. House of Representatives may vote on the legislation this week. The following…

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ASA-Endorsed Federal Tax Bill Passes Committee, Full House Could Happen this Week

A bipartisan federal tax bill, endorsed by ASA, passed the U.S. House Ways & Means Committee with 40 votes in favor and 3 votes against. Congressional sources say the full U.S. House of Representatives may vote on the legislation this week.

The following provisions in H.R. 7024, the Tax Relief for American Families and Workers Act of 2024, could positively impact automotive repair facilities:

  • Reclassifying interest paid on certain business loans as an allowable deduction and providing for a 100 percent bonus depreciation allowance for qualified property – such as equipment and vehicles – acquired and placed in service between Dec. 31, 2022, and Jan. 1, 2026.
  • Raising the maximum amount a business may expense for qualifying property from $1 million (reduced by the amount by which the cost exceeds $2.5 million) to $1.29 million (reduced by the amount by which the cost exceeds $3.22 million), adjusting for inflation for taxable years after 2024.

If enacted, the bill would also expand the Child Tax Credit. It would change how the maximum refundable credit is calculated by including consideration for the number of children in a household. Furthermore, it would increase the maximum per-child limit from $1,600 to $1,800 for tax year 2023, along with annual increases to the cap adjusted for inflation each ensuing year through 2025.

Click here to read a section by section summary of the legislation. 

Click here to read the legislation in its entirety. 

Click here to read ASA's press release on the announcement that a bipartisan tax agreement had been reached. 

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]]> Rhode Island Bill would Redefine “Unfair Insurance Practice” in Insurers’ Favor https://www.asashop.org/2024/01/26/rhode-island-bill-would-redefine-unfair-insurance-practice-in-insurers-favor/ Fri, 26 Jan 2024 21:15:52 +0000 https://www.asashop.org/?p=64864 Rhode Island Bill would Redefine “Unfair Insurance Practice” in Insurers’ Favor A bill - known as S. 2210 - introduced in the Rhode Island State Senate would make it harder to hold insurance companies liable for unfair insurance practices. Under the state's current law, failure to have a licensed appraiser conduct an appraisal on a…

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Rhode Island Bill would Redefine “Unfair Insurance Practice” in Insurers’ Favor

A bill - known as S. 2210 - introduced in the Rhode Island State Senate would make it harder to hold insurance companies liable for unfair insurance practices.

Under the state's current law, failure to have a licensed appraiser conduct an appraisal on a vehicle estimated to have suffered at least $2,500 in damage constitutes an unfair insurance practice. Failure to perform the appraisal within three business days after the repairer requested the appraisal also qualifies as an unfair insurance practice.

The proposed legislation would raise the respective thresholds to $5,000 in estimated damage and within four business days after the appraisal was requested.

The Senate Judiciary Committee has not scheduled a hearing to consider the legislation as of January 26, 2024.

Click here to read S. 2210 in its entirety. 

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]]> Rhode Island Bill would Limit Insurers’ Ability to Deny Coverage for OEM Repair Parts https://www.asashop.org/2024/01/26/rhode-island-bill-would-limit-insurers-ability-to-deny-coverage-for-oem-repair-parts/ Fri, 26 Jan 2024 20:32:39 +0000 https://www.asashop.org/?p=64852 Rhode Island Bill would Limit Insurers’ Ability to Deny Coverage for OEM Repair Parts A bill was introduced in the Rhode Island Legislature that would restrict insurance companies' ability to refuse to cover OEM repair parts in certain situations. Under the current law in Rhode Island, insurers are not allowed to require the use of…

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Rhode Island Bill would Limit Insurers’ Ability to Deny Coverage for OEM Repair Parts

A bill was introduced in the Rhode Island Legislature that would restrict insurance companies' ability to refuse to cover OEM repair parts in certain situations.

Under the current law in Rhode Island, insurers are not allowed to require the use of non-OEM parts on vehicles that are less than 48 months beyond their manufactured date, unless the repairer has received written consent from the vehicle owner to use those parts. The recently introduced legislation - titled H. 7264 - would forbid insurance companies from refusing the use of OEM parts when negotiating repairs with a repairer for vehicles that are between 48 to 72 months from their manufactured date, as long as the repairer has written consent from the vehicle owner to install OEM parts. The proposed change would not apply to the repair or replacement of motor vehicle glass.

Click here to read H. 7264 in its entirety. 

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]]> ASA, OEMs, and SCRS Offer Themselves as a Resource to Congress and Constituents https://www.asashop.org/2024/01/24/asa-oems-and-scrs-offer-themselves-as-a-resource-to-congress-and-constituents/ Wed, 24 Jan 2024 20:19:39 +0000 https://www.asashop.org/?p=64832 ASA, OEMs, and SCRS Offer Themselves as a Resource to Congress and Constituents The Automotive Service Association (ASA), the Alliance for Automotive Innovation (Alliance), and the Society of Collision Repair Specialists (SCRS) have sent a joint letter to Congress offering to assist constituents who are encountering difficulties locating vehicle diagnostic and repair data. The letter…

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ASA, OEMs, and SCRS Offer Themselves as a Resource to Congress and Constituents

The Automotive Service Association (ASA), the Alliance for Automotive Innovation (Alliance), and the Society of Collision Repair Specialists (SCRS) have sent a joint letter to Congress offering to assist constituents who are encountering difficulties locating vehicle diagnostic and repair data.

The letter acknowledges that the rapid pace of automotive innovation can lead to confusion with regards to accessing the data needed to repair a vehicle. The parties assure Congress that this information is available to vehicle owners and independent repair shops of their choosing, as stipulated in the agreement the three groups signed in July 2023. That agreement explicitly states that independent repairers are entitled to the same diagnostic and repair data that the OEMs provide to their franchised dealerships, and that new technologies - like telematics and alternative power transmissions - may interfere with that right. The letter invites Congressional offices to email repairinfo@autosinnovate.org should they "ever hear from a constituent experiencing a challenge with repairing a vehicle at a location of his or her choosing." The letter signatories are happy to direct the office and constituent to the appropriate resource. 

Click here to read the full letter sent to Congress. 

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]]> Bill Introduced in Hawaii would Lower Thresholds for Mandatory Overtime Pay https://www.asashop.org/2024/01/23/bill-introduced-in-hawaii-would-lower-thresholds-for-mandatory-overtime-pay/ Tue, 23 Jan 2024 21:30:27 +0000 https://www.asashop.org/?p=64826 Bill Introduced in Hawaii would Lower Thresholds for Mandatory Overtime Pay A bill introduced in Hawaii's legislature on January 19, 2024 would lower the working hours thresholds for an employee to be legally entitled to overtime compensation. If passed, Senate Bill (SB) 2610 - which was introduced by State Senator Henry Aquino (D) - would…

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Bill Introduced in Hawaii would Lower Thresholds for Mandatory Overtime Pay

A bill introduced in Hawaii's legislature on January 19, 2024 would lower the working hours thresholds for an employee to be legally entitled to overtime compensation.

If passed, Senate Bill (SB) 2610 - which was introduced by State Senator Henry Aquino (D) - would mandate:

  • At least 1.5x pay for work exceeding 40 hours in a work-week.
  • At least 1.5x pay for the 8th to 12th hours worked in a day AND 2x pay for the hours exceeding 12 hours of work in a day AND 2x pay for work exceeding 8 hours on the 7th consecutive day of work, if the employee worked for more than 8 hours for more than 6 days of the work-week.

The overtime provisions described above would be extended to cover minors that are 16 and 17 years old.

Click here to read SB 2610 in its entirety. 

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]]> UPDATE: U.S. House to Vote on Imported Material Exception for EV Chargers https://www.asashop.org/2024/01/08/u-s-house-to-vote-on-imported-material-exception-for-ev-chargers/ Mon, 08 Jan 2024 21:15:30 +0000 https://www.asashop.org/?p=64746 UPDATE: U.S. House to Vote on Imported Material Exception for EV Chargers The United States House of Representatives plans to vote this week on a resolution that would nullify a rule - finalized by the Federal Highway Administration - that would temporarily waive certain domestic content requirements for electric vehicle (EV) chargers funded through the…

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UPDATE: U.S. House to Vote on Imported Material Exception for EV Chargers

The United States House of Representatives plans to vote this week on a resolution that would nullify a rule - finalized by the Federal Highway Administration - that would temporarily waive certain domestic content requirements for electric vehicle (EV) chargers funded through the Infrastructure Investment and Jobs Act of 2021 (IIJA). The IIJA provides $7.5 billion for EV charging infrastructure.

Most Republican members of congress support S.J. Res. 38 because a waiver would prolong the U.S.'s EV supply chain reliance on China, they argue. On the other hand, most Democrats argue that eliminating the waiver would actually increase China's footprint by also taking away other domestic sourcing requirements for EV chargers, therefore making it easier to spend taxpayer dollars on Chinese companies.

The U.S. Senate passed S.J. Res. 38 in November with 50 in favor and 48 against. Four Democrats voted in favor and one Republican voted against. President Biden has vowed to veto the resolution if the House sends it to his desk, as is expected.

Click here to read S.J. Res. 38 in its entirety. 

UPDATED JAN. 24, 2024:

President Biden vetoed S.J. Res. 38 after it passed the U.S. House of Representatives with 209 votes in favor and 198 votes against. Two Democrats joined most Republicans in voting yes, while two Republicans joined most Democrats in voting no.

Congress can override the President's veto with a 2/3 majority vote in both the Senate and House, but there aren't likely enough votes in either chamber to override the veto.

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]]> U.S. House Committee Examines Health of Nation’s Small Business Environment https://www.asashop.org/2023/12/12/u-s-house-committee-examines-health-of-nations-small-business-environment/ Tue, 12 Dec 2023 18:26:19 +0000 https://www.asashop.org/?p=64678 U.S. House Committee Examines Health of Nation’s Small Business Environment Earlier today, the U.S. House of Representatives Committee on Small Business held its last hearing of the year, titled "A Year in Review: The State of Small Business in America." The committee heard testimony from four small business owners who described the factors contributing to…

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U.S. House Committee Examines Health of Nation’s Small Business Environment

Earlier today, the U.S. House of Representatives Committee on Small Business held its last hearing of the year, titled "A Year in Review: The State of Small Business in America." The committee heard testimony from four small business owners who described the factors contributing to their companies' successes and challenges, as well as the ways the federal government could help alleviate those struggles.

Problems and suggested solutions discussed repeatedly during the hearing include:

  • Workforce shortages: Prioritize more funding for trades education programs so they can hire the best instructors. Make tuition for trades education eligible for more financial aid programs. Update the resources provided by the Small Business Administration and update trade school curriculum to reflect the realities of the modern economy.
  • Childcare: Make high quality childcare options more affordable and accessible to give entrepreneurs the capital and flexibility needed to create businesses while also expanding the pool of prospective employees who also need childcare in order to participate in the workforce.
  • Inflation and high interest rates: Rein in high government spending and other policies that diminish access to capital.
  • Lack of affordable housing: Increase the housing stock. Change zoning laws to allow housing to exist in more areas.
  • Artificial Intelligence: Regulate AI in a way that ensures it remains accessible to small businesses and not for the exclusive use of large companies.

Click here to watch a video recording of the hearing. 

 

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