Archive for November 2023

This Week in Congress This week, Congress returned to session after the Thanksgiving Day Recess and on November 14, 2023, the House of Representatives voted 336-95 to pass a continuing resolution to keep the federal government funded through the end of this year (H.R. 6363).  This creates new funding deadlines on January 19, 2024 for…

New Independent Contractor Rule is Imminent It appears as if the final release of the new Independent Contractor rule is imminent.  After an extended public comment period, the proposed rule has finally been submitted to the White House Office of Management and Budget (OMB).  OMB review is the final step in the rulemaking process. Independent…

Upcoming Webinar: Job Costing 201: Level Up Your Process for More Profit Join us on Wednesday, December 12th, 2023 at Noon Eastern for the ASA webinar, “Job Costing 201: Level Up Your Process for More Profit”, presented by Terrin Kailain from Knowify. In today’s highly competitive construction industry, subcontractors face an almost impossible challenge: maintaining…

This Week In Congress This week, Congress passed legislation that averted a government shutdown.  The legislation would fund some government departments until mid-January and the rest through early February.  It did not include spending cuts or policy changes that Republican hard-liners sought.  Congress will be in recess next week for Thanksgiving and in anticipation of…

ASA Calls Upon Congressional Leadership to Delay the Implementation of the Corporate Transparency Act ASA joined the American Institute of Certified Public Accountants (AICPA) in strongly urging Congress to delay implementation of the beneficial ownership reporting under the Corporate Transparency Act (CTA) by one year.   The CTA requires the submission of regular reports to the…

Click Here to Register for Mini Committee Week Mini Committee Week Join us on January 18-19th, 2024, for the Mini Committee Week.  This event will take place at the beautiful Marriott Watermark in Baton Rouge, LA. ASA Special Group Rate: $169.  Group rate is available for reservations made before December 17, 2023. Guest may reserve…

One Percent The Fiscal Responsibility Act contains a provision that funding for all departments and agencies — defense and nondefense – would require a one percent across-the-board cut below FY23 levels in each of the next two fiscal years in the event that the FY24 appropriations bills are not enacted by January 1st. The Act…

Tax Credits Senate Democrats are working to include $49 billion on a two-year boost for the child tax credit expansion that could also be paired with business tax breaks renewed for a similar duration. The proposal is a sign that negotiations between Senate Finance Chair Wyden and House Ways and Means Chair Smith are getting…

Inflation Cools The Bureau of Labor Statistics reported that inflation sank to 3.2 percent in October over a year earlier, the lowest since July as energy prices continue to decline. “Core” inflation, minus food, and energy costs, dipped to 4 percent, down from 4.1 percent and the smallest increase since September 2021. On a month-over-month…

This Week in Congress Congress continued to craft legislation to avert a government shutdown next week with the current stop-gap funding measure expiring November 17th.   The House voted on the Financial Services and Transportation-HUD spending bills and the Senate resumed consideration of Monica Bertagnolli’s nomination to head the National Institutes of Health, along with working…