November 19, 2021

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How the Infrastructure Bill impacts employers

On November 16, the $1.2 trillion bill aimed at improving infrastructure across the United States was signed into law. While the bill doesn’t have many provisions that will directly impact businesses, here are the few that do:

  • Employee Retention Credit (ERC) expires: The American Rescue Plan Act extended the ERC program through December 31, 2021, but this new bill has changed the termination date to September 31, 2021. This means any wages paid after the end of September will not qualify for ERC. If you were planning to claim the credit for Q4, you may need to adjust your tax deposits or returns. 
  • More affordable broadband: We’re proud to share that a Gusto letter to Congress advocating to expand broadband to underserved communities and businesses ultimately influenced the final bill. The broadband provisions include:  
    • $42.45 billion to states and territories to focus on unserved and underserved areas of the country for broadband expansion
    • $14.2 billion subsidy to qualified low-income users
    • $2 billion for rural broadband programs
    • $1 billion to build a high-speed backbone for communities, businesses, and anchor institutions
  • Funding to improve travel and transport: Employees around the country will reap the benefits of the bill’s billions of dollars in funding to improve public transportation, roads, airports, and more.

Read more about the bill here.

Update: 6th Circuit selected to review OSHA mandate

The 6th U.S. Circuit Court of Appeals has been selected by lottery to hear a consolidation of several challenges to the vaccine mandate issued by the Occupational Safety and Health Administration (OSHA) earlier this month. The mandate, which requires COVID vaccination or testing for businesses with 100+ onsite employees, was temporarily suspended by the 5th Circuit Court of Appeals just a day after it was published on Nov. 4, and the stay was reaffirmed on Nov. 12. The case is expected to eventually go before the Supreme Court.

This leaves employers in the position of not knowing whether they will be required to implement the rule’s many provisions by Jan. 4. “It will take weeks of planning for an employer to comply with the ETS deadlines if it does survive all legal challenges,” Ashley Cuttino, an attorney with Ogletree Deakins in Greenville, S.C., tells SHRM Online. “Employers do not want to find themselves in a position where they are not ready if the ETS survives.” 

The question of enforcement is also a tricky one. It’s unclear how OSHA intends to monitor every large employer across the country for compliance with all the requirements. Michael Jones, member of the law firm Eckert Seamans told HR Dive that OSHA will likely focus on some parts of the mandate over others: “The biggest thing is a policy. That’s going to be a primary concern of OSHA. They’re not going to spend a lot of time digging through proof of vaccination records on file.”

We’ll be keeping an eye out for any other information that will help employers determine the best course of action. Stay tuned for more updates.

The Great Resignation, up to the minute

A new Gusto data report offers a look into how the Great Resignation is evolving in real time, observing the trend up to as recent as the end of October. The report shows that workers are still leaving their jobs at the highest rates in service-sector businesses, but that quits have started to edge down month-over-month since August’s record highs.

You can also see quit rates by gender, industry, age group, and more in the full report. 

7 different ways to finance your business

There are countless business financing solutions and lenders—each with its own pros and cons. The financing option you choose can also play a better or worse role depending on where you’re at in your entrepreneurial journey. That’s why our new blog post focuses on several different options, and what to consider to help you choose the right one. Click through the links below to jump directly to the section you’re most interested in. 

  1. Term loan
  2. Business line of credit 
  3. SBA 7(a) loan
  4. Microloan
  5. Invoice factoring
  6. Equipment financing
  7. Merchant cash advance 
  8. What to consider when choosing a financing option 

Watchlist

DEC 9: Your Business May Qualify to Save Thousands with the R&D Tax Credit

If you develop new products, reduce uncertainty through innovation, or use hard sciences, you may qualify for up to $250,000 a year in tax credits. On December 9, Ardius CEO Joshua Lee will be discussing everything you need to know about the R&D Tax Credit. Register here.

DEC 15: Vaccines & Variants: A COVID-19 Update for Employers

A lot has changed for COVID-19 in the past couple of months. Between vaccine mandates, the Delta variant, mask mandates, mask mandate bans, and changing guidance from the CDC and OSHA, there’s a lot to keep up with. We’ll talk through the current state of the pandemic and how you can continue to stay on top of COVID-19 in your workplace. Register here.

Find the latest relief options in our Small Business Relief Finder.

Want more news and resources? Check out past editions in our archive.

Mohini Kundu Mohini Kundu is a freelance writer and editor. She studied journalism at Northwestern University and started her career at The Huffington Post before moving into tech where she worked as a content marketer for 7 years. She writes about several topics including psychology, business, finance, and environmental issues.

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