Sunday 02 October 2022

NAMA commends lawmakers on Employee Retention Tax Credit Reinstatement Act

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ARLINGTON, Va., USA – The National Automatic Merchandising Association (NAMA) commended U.S. Reps. Carol Miller (R-WV), Kevin Hern (R-OK), Stephanie Murphy (D-FL), and Terri A. Sewell (D-AL) for introduction of the Employee Retention Tax Credit Reinstatement Act. The bipartisan bill is a direct result of NAMA’s unflagging advocacy for preservation of the tax credit, an effort that in November mobilized more than 100 representatives of the convenience services industry for meetings with Members of Congress.

“NAMA applauds the introduction of legislation to restore the Employee Retention Tax Credit (ERTC) and the bipartisan leadership of Reps. Carol Miller (R-WV), Kevin Hern (R-OK), Stephanie Murphy (D-FL), and Terri A. Sewell (D-AL),” said Carla Balakgie, FASAE, CAE, President & CEO of NAMA. “Preserving the full year allowance of ERTC has been NAMA’s number-one priority since the Senate Infrastructure Bill first put it in jeopardy. It’s a prime reason why more than 100 NAMA members traveled to Washington in November to meet with Members of Congress and asked them to keep their commitment to the convenience services industry.”

This legislation would reinstate tax relief previously established by Congress to offset a small portion of employee wages in fourth quarter of 2021 — $193 million for the convenience services industry. Access to these funds was cut during infrastructure funding negotiations.

One of the few financial safety nets available to the convenience services industry, ERTC was a vital lifeline to these small businesses. Even with ERTC assistance, NAMA estimates that nearly one in three (28.7%) convenience services industry jobs has been lost due to the COVID-19 pandemic.

NAMA represents the $31 billion U.S. convenience services industry. By providing advocacy, education and research, NAMA works to promote and protect the industry’s nearly 160,000 hardworking employees. Through traditional vending and micro markets, office coffee and pantry services, product manufacturing and small-drop distribution, convenience services meets the needs of over 40 million American consumers daily at work, home, school and play.

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