Chicago, Ill., Nov. 06, 2021 (GLOBE NEWSWIRE) -- YMCA of the USA, along with a coalition of national nonprofits, issued the following statement regarding the Infastructure Investment and Jobs Act:
The Infrastructure Investment and Jobs Act, just passed by Congress, includes several provisions of importance to the charitable nonprofit sector, yet curtails essential relief enacted earlier this year. The nonprofits listed below celebrate many helpful aspects of the law and urge Congress and the Administration to quickly take action to enact further #Relief4Charities:
“The Infrastructure Investment and Jobs Act includes several priorities that will assist nonprofits and the communities they serve. We are glad to see the inclusion of a Nonprofit Energy Efficiency pilot program that awards $50 million in grants for charitable organizations to make upgrades to their facilities and $65 billion to support broadband access for all.
“We are disappointed however, that the bill eliminated the Employee Retention Tax Credit for the fourth quarter of this year. The ERTC, which has been a lifeline for many nonprofits, is a refundable payroll tax credit for nonprofits and small businesses designed to provide a financial incentive for employers to keep employees on their payrolls and continue to deliver important services during the pandemic and in its immediate aftermath. It has allowed them to retain critical employees in the face of the economic challenges caused by the pandemic. Tens of thousands of organizations are now counting on fourth quarter 2021 access to an ERTC to support the financial decisions they made to bring employees back on the payroll and increase operating capacity to serve their communities.
“As Congress and the White House continue negotiations on the best ways to support American families and the economy, we encourage them to prioritize continued support for ERTC allowing charitable nonprofits to access the ERTC during the Fourth Quarter of 2021; extending nonprofit eligibility for the ERTC through 2022 to help ensure a strong economic recovery from the pandemic; and, amending the definition of nonprofit “gross receipts” for the ERTC program to better reflect revenue available to support nonprofits amid the pandemic.”
###
- American Alliance of Museums
- Association of Art Museum Directors
- Boys & Girls Clubs of America
- Catholic Charities USA
- Dance/USA
- Girl Scouts of the USA
- Girls Inc.
- Goodwill Industries International, Inc.
- Independent Sector
- Jewish Federations of North America
- League of American Orchestras
- National Council of Nonprofits
- Network of Jewish Human Service Agencies
- OPERA America
- Social Current (formerly Alliance for Strong Families and Communities and Council on Accreditation)
- Union of Orthodox Jewish Congregations of America
- YMCA of the USA
