Nonprofit Federal Policy Update provided by the
National Council of Nonprofits, a dynamic, national network that links nonprofits to achieve greater impact in our communities.
Will There Be a Second Economic Stimulus Package?Democrats may push to enact a $61 billion stimulus bill in a lame duck session later this month if they can secure Republican support. Speaker Nancy Pelosi suggested that the Senate pass the $61 billion package (
HR 7110) that the House passed in September, and which included funding for infrastructure projects, state Medicaid programs, an extension of unemployment insurance and food stamps. In September, Senate Republicans blocked consideration of a similar $56.2 billion stimulus bill (
S 3604). Democrats are hoping that GOP losses in Tuesday’s election and the worsening economy may soften the Senate minority’s stance. In recent weeks, the White House has signaled it is open to ideas but has dismissed many of the Democrats’ proposals as not being stimulative. CQ TODAY ONLINE NEWS, 11/5/08
Federal Reserve Chairman Ben Bernanke supports another stimulus package, as do state and local officials facing budget shortfalls. They urged Congress at a House Ways and Means Committee hearing last week to open up the recently enacted financial industry bailout plan to state and local authorities struggling to find buyers for tax-exempt bonds. New York Governor David Paterson asked lawmakers to provide a direct infusion of federal spending to states, including a temporary five percent increase in federal support to states for Medicaid through fiscal 2011, an additional seven weeks of emergency benefits for unemployed workers, and a temporary increase in funding for the food stamp program. CQ TODAY ONLINE NEWS, 10/28/08, 10/29/08
The Revised GIVE Act regarding charitable volunteer mileage may have a breath of life were a stimulus package to be agreed upon, but that is highly speculative right now.
Final Regulations Issued Implementing College Loan Forgiveness Provisions for Nonprofit Employees The Department of Education has published
final regulations for the College Cost Reduction and Access Act of 2007 (
CCRAA). This Act provides for loan forgiveness for full time employees of “public service organizations," a provision the National Council of Nonprofits successfully lobbied to expand to include all 501(c)(3) nonprofits. Nonprofit full-time employees (at least 30 hours a week) making monthly college loan repayments can count each month of nonprofit employment towards the 120 months of payments needed to qualify for forgiveness of the remaining loan balance, beginning with payments after October 1, 2007. The effective date applies to payments, and thus existing nonprofit employees with outstanding student loans of more than ten years future duration can benefit from this provision. For more information, see a
Q & A on our website.
Rush to Finalize Regulations by Bush AdministrationThe Bush Administration has been pushing to revise a wide array of federal regulations in the next two and a half months. Look for more deregulation of private industry, the easing of emission controls, and relaxed drinking water standards. As many as 90 new regulations are in process, including
proposed rules governing family and medical leave. The Washington Post, 10/31/08