Vending

US lawmakers introduce employee retention and tax credit reinstatement bill

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December 8, 2021

U.S. lawmakers have listened to the convenience services industry and have introduced the Employee Retention Tax Credit Reinstatement Act which, if signed into law, preserves tax relief funds previously set aside 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.

The National Automatic Merchandising Association commended U.S. Reps. Carol Miller, R-West Virginia, Kevin Hern, R-Oklahoma, Stephanie Murphy, D-Florida and Terri Sewell, D-Alabama, for introduction of the bill.

NAMA in November mobilized more than 100 representatives of the convenience services industry for meetings with Members of Congress.

"Preserving the full year allowance of ERTC has been NAMA's number-one priority since the Senate Infrastructure Bill first put it in jeopardy." Carla Balakgie, NAMA president and CEO, said in a prepared statement. "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."

Even with ERTC assistance, NAMA estimated that nearly one in three (28.7%) convenience services industry jobs has been lost due to the COVID-19 pandemic.