Here are two items that we’re watching. We keep you updated on items like these in case you want to engage directly with the Delaware U.S. Delegation on these important matters:
1. U.S. Department of Labor proposed overtime regulations, we alert you to an analysis that the National Council of Nonprofits (NCNP) prepared and circulated. In the analysis, they summarize the proposal, provide legal and historical background, and offer questions we think nonprofits should consider when submitting comments to the Department of Labor.
“Because the impact of these regulations will be different for every nonprofit – depending on factors such as whether it is a large institution paying large salaries or a smaller community-based organization, and whether its revenue model is based largely on contributions or earning funds through government contracts that may not pay the presumed increased costs – we recognize that the proposed rules will be more nuanced than ‘everybody in a diverse sector loves it or hates it.” That’s why we are encouraging each organization to do its own mission-based analysis of the impact on its own operations and those it serves and to share comments directly with the Department of Labor.” (National Council of Nonprofits)
House Education and the Workforce Committee will conduct a hearing on Thursday, July 23 entitled, "Examining the Costs and Consequences of the Administration’s Overtime Proposal." We will keep you updated as this matter develops.
2. Senate Finance Committee: Tuesday, July 21, the Committee will “markup” a bill to renew and extend through next year 55 expired tax provisions, including the IRA rollover and the enhanced deductions for donations of food inventories and land conservation easements. Committee Chairman Hatch (R-UT) has made clear that he only wants to extend the expired tax provisions (the so-called “extenders package”) through 2016 and will require all amendments to be paid for. The Thune/Stabenow amendment does not have a revenue offset, but the Senators want the record of the markup to reflect the support that does exist for the charitable provisions and to keep the issues on the table for future consideration.
As always you can contact me with any questions or comments at firstname.lastname@example.org or 302.777.5500