|FOR IMMEDIATE RELEASE
Arlington, VA – Today, National Association of Chemical Distributors (NACD) President Eric R. Byer issued the following statement commending Congress for passing the Consolidated Appropriations Act of 2021 with bipartisan COVID-19 relief. The package will bring much-needed aid to Americans and businesses struggling from pandemic-induced hardships.
“We are pleased that the most-recent COVID-19 relief bill includes many of the measures NACD has been urging Congress to provide for businesses, including simplified forgiveness of Paycheck Protection Program (PPP) loans of $150,000 or less, ensuring tax deductibility for business expenses paid with forgiven PPP loans, providing fresh PPP funding, and offering businesses facing severe revenue reductions the opportunity to apply for a second loan.
We are disappointed, however, that the end-of-the-year omnibus package portion of the legislation did not include extensions of the Generalized System of Preferences (GSP) and Miscellaneous Tariff Bill (MTB) trade programs. Two of the most effective trade programs that the United States have at their disposal to facilitate American business, both GSP and MTB are set to expire on December 31. Allowing these programs to lapse will weaken our economic recovery and cost jobs, as opposed to creating them.
We look forward to President Trump’s quick signage of the omnibus spending package that provides essential COVID-19 relief and urge Congress to quickly renew GSP and MTB before these important trade programs lapse at the end of this year.”
NACD and its nearly 400 member and Affiliate companies are vital to the chemical supply chain providing products to over 750,000 end users. NACD members are leaders in health, safety, security, and environmental performance through implementation of Responsible Distribution, established in 1991 as a condition of membership and a third-party-verified management practice. For more information, visit www.NACD.com.
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