Reuters

• House lawmakers on Friday demanded five large, publicly traded companies return the $10 million loans they received that were meant for small businesses. 
• Only one company, MiMedx, said it would return the $10 million Paycheck Protection Program loans.
• Just 48 public companies of the 387 that received PPP loans have returned the money. 
• Visit Business Insider's homepage for more stories.

US representatives blasted five publicly traded companies for taking Paycheck Protection Program loans means for small businesses, leading at least one to return the money.

The House subcommittee on the coronavirus crisis sent letters] to MiMedx, Quantum, EVO Transportation & Energy Services, Gulf Island Fabrication, Universal Stainless, and Alloy Products on Friday demanding they return loans received from the treasury. MiMedx said late Friday it was repaying its $10 million loan.

See the rest of the story at Business Insider

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This week in government affairs: NECA opposes bill to raise top tax rate for pass-throughs, NECA member testifies before the house small business committee and NECA Wins in NDAA.

1. New Joint Employer Rule Issued by the NLRB

On February 25, 2020, the National Labor Relations Board released the details of a new joint-employer liability rule. This new rule, which began the regulatory process almost two years ago, reverts the regulatory language back to its pre-2007 form, requiring companies to exercise direct control over workers to be considered their employer. The new joint-employer rule creates a much higher threshold for the employers to be held jointly liable for violations; benefiting organizations and corporations structured around franchising and third-party hiring.

NECA’s Look Ahead: This rule takes effect April 27, 2020. NECA will continue to monitor this rule change, assessing its impacts on jobsites.

2. The Protecting Business Opportunities for Veterans Act Passes the House 

On February 25, 2020, H.R. 561, the Protecting Business Opportunities for Veterans Act, passed the House by unanimous voice vote. This legislation will aid veteran-owned small businesses by directing the Department of Defense and Department of Veterans Affairs to contract with those businesses. Veteran-owed small businesses will be required to perform a majority of the work they are awarded on these government contracts with large subcontractors and will be restricted from performing the work set aside for these types of small businesses. 

NECA’s Look Ahead: NECA applauds the House on the unanimous passage of this legislation and expects it to be received favorably in the Senate. We will continue to monitor this issue as it moves to the Senate and are confident in a positive outcome.

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On February 26, 2020, the House Committee on Small Business held a hearing to discuss the 2021 Budget with the Small Business Administrator. Recently appointed Administrator, Jovita Carranza, gave an overview of the administration’s budget requests and the committee was able to examine the potential opportunities and challenges that small businesses participating in the SBA’s programs will face. 

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