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NIADA Government Update
Government Update
By Shaun Petersen NIADA Senior V.P. Legal and Government Affairs
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EDITOR’S NOTE: Those of you who read the NIADA magazine may have already seen the attached. I thought the information was important enough to include in our magazine as well. ~ Todd Elliott
NIADA is your voice Economic Assistance, Liability in Washington D.C., Protection and Schools Act – totaling advocating for independent $1 trillion in spending. dealers, the used vehicle industry and small business. Here’s a look at the latest news and NIADA efforts regarding legislative, regulatory and grass roots activities. The HEALS Act also includes stimulus payments, but does not include state and local funding, and would substantially reduce the unemployment benefit to $200 LEGISLATIVE initially, then matching 70 percent of lost wages when added to state At press time, the Democratcontrolled House of Representatives and the Republican-controlled Senate remained in a standoff over the next phase of COVID-19 relief benefits. It would also put another $190 billion into the Paycheck Protection Program and allow small businesses to take out a second PPP loan. legislation. As the two sides attempt to In May, the House passed the Heroes Act, a $3 trillion package that includes $1 trillion in aid to state negotiate an agreement, NIADA has been actively supporting several bills related to the COVID-19 pandemic. and local governments, another One is S. 4117, the Paycheck Proround of stimulus checks to individual tection Small Business Forgiveness Americans and an extension of Act, which would provide automatic the $600 per week enhanced forgiveness for PPP loans of less than unemployment benefit. $150,000, requiring only submission of In July, Senate Republicans introduced a series of bills – collectively called the Health, a one-page form. Currently, business es must show they have met certain conditions regarding how and when 16 | the Front Row | wsiada.com | Special Edition Fall 2020 the funds are used to have the loans forgiven. Another is S. 4317, the Safe to Work Act, which is part of the HEALS Act. The bill would provide a five-year liability shield to prevent businesses, schools and hospitals from being sued over coronavirusrelated issues. The liability shield has been on the Republicans’ radar almost since the pandemic began in March, but it has been opposed by Democrats. Senate Majority Leader Mitch McConnell (R-Ky.) said the lack of such a shield would “dramatically slow” the nation’s economic recovery. NIADA is also seeking additional targeted assistance for certain small businesses, including additional PPP funds for the businesses that need it most.
REGULATORY
Federal Trade Commission: Three years ago, the FTC began an in
depth qualitative study focusing on the experiences of 38 consumers who had recently purchased and financed a vehicle through a dealer. The results of that study were released in July, and the report, called Buckle Up: Navigating Auto Sales and Financing, includes areas in which dealers were less than transparent about the sales and finance processes, leading to customer confusion. The FTC said the single greatest area of confusion involved ancillary products like service contracts or GAP. Customers were often confused as to whether such addons were mandatory, sold in a package or bundle, or included free with their purchase. Many didn’t understand the limitations of the products. Among other issues highlighted by the FTC was a finding that consumers can be unaware of key terms in sales and finance contracts, often because the negotiations tend to focus primarily on monthly payment. The commission said that approach can leave consumers in the dark about other important financial variables, such as down payment, length of financing and annual percentage rate. Even a seemingly simple term like price was often confusing – it could mean sticker price, out-the-door price, total sales price or something else. The report also addressed issues in advertising, negotiations, reviewing and signing documents, and renegotiating financing. To read the complete report visit www.ftc.gov/system/files/ documents/reports/bucklenavigating-auto-sales-financing/ bcpstaffreportautofinancing_0.pdf Department of Labor: DOL has launched an online tool that can help you determine whether your employees are eligible for COVIDrelated benefits under the Families First Coronavirus Relief Act. While the tool is currently set up for employees, employers can use it to check if they are obligated to provide paid sick leave or paid expanded family and medical leave for staff members. You can access the tool through the NIADA COVID-19 Resource page at covid19.niada.com. Click on “Determining Your FFCRA Eligibility.”
PAC
On Aug. 17, the NIADA legislative committee held a virtual Q&A with Rep. Henry Cuellar (D-Texas), who took questions from the committee about the Congressional battle over the next phase of COVID-19 relief legislation, the Paycheck Protection Program, the federal budget and more. Cuellar is a longtime friend of NIADA and the used vehicle industry, and was a featured speaker at NIADA’s 2015 National Policy Conference in Washington D.C. In June, his leadership and willingness to reach across the aisle to promote legislation that helps small business was recognized by the U.S. Chamber of Commerce, which selected him for three awards – the JeffersonHamilton Award for Bipartisanship, the Abraham Lincoln Leadership for America Award and the Spirit of Enterprise Award for his support of pro-job, pro-growth policies. “I always keep in mind the words of John F. Kennedy, who said there’s not a Republican idea that’s the best idea and there’s not a Democrat idea that’s the best idea,” Cuellar said. “Wherever the idea comes from, you look at what’s best for the country.”
WSIADA Retail Store Is Open!
The WSIADA retail store in Auburn reopened to the public on June 15, 2020 following the mandatory requirements for King County in the phase plan.
Our auction booth locations will remain closed until the auctions are able to reopen their facilities to live auctions.
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