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By: Danielle Fallon-O'Leary , Contributor
Under the Corporate Transparency Act, U.S. small businesses must file beneficial ownership information reports with the Department of the Treasury. The Corporate Transparency Act (CTA), aimed at combating illicit financial activity, went into effect on January 1, 2024. Under the act, small businesses across the United States need to file beneficial ownership information reports, also known as corporate transparency reports. Here’s everything small business owners need to know about filing a corporate transparency report. [Read More: What Every Small Business Needs to Know About the Corporate Transparency Act] What to know about beneficial ownership information reportingThe CTA was developed to increase transparency in business ownership and curtail the use of anonymous shell corporations for tax fraud, money laundering, and other illegal financial activity. Under this act, all businesses that fall under the definition of a reporting company must file a beneficial ownership information report (BOIR) with the Financial Crimes Enforcement Network (FinCEN). A reporting company is any privately held company, whether domestic or foreign, registered to conduct business in the U.S. Publicly traded companies do not fall under the CTA, as they are subject to their own reporting requirements. A beneficial owner is any individual who owns or controls at least 25% of an organization, or directly or indirectly exercises substantial control in any of the following roles:
Reporting requirements for small businessesEligible small businesses will need to report the following information about their companies:
How to file your corporate transparency reportAs of January 1, 2024, FinCEN has begun accepting beneficial ownership information reports. Here are four steps you can take to prepare your corporate transparency report. 1. Determine whether your business is required to file.Under the CTA, LLCs and corporations must file beneficial ownership information reports unless they qualify for an exemption. The following entities are exempt from reporting:
2. If your business qualifies, learn who the beneficial owners are.List out any individuals who own or control 25% of your company, or otherwise exercise substantial control as defined above. If you are unsure if an individual meets the requirements of a beneficial owner, consult with a legal professional. Once you have identified any beneficial owners, contact each to inform them that the CTA requires your business to report their personal information to FinCEN. Beneficial owners can choose to apply for a FinCEN Identifier and provide information to FinCEN directly. Otherwise, they can send the necessary information directly to you (the company) to be included in your business’s beneficial ownership information report. 3. Create a procedure.Whether your beneficial owners are submitting their information via FinCEN or to your company, establish a process to keep all personal information organized, secure, and current. In addition to your initial report, you will need to file updated reports should there be a change in personal information or beneficial ownership. [Read More: How to Choose the Best Business Entity for Your Small Business] 4. File your report online.All companies required to submit beneficial ownership information reports must file online via FinCEN. You can file one of two ways:
CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation. CO—is committed to helping you start, run and grow your small business. Learn more about the benefits of small business membership in the U.S. Chamber of Commerce, here.
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Richmond, Ind. - Wayne County ATHENA Leadership Awards will accept nominations beginning today (April 29) for its ATHENA Leadership Award, ATHENA Young Professional Award, and the ATHENA Organizational Leadership Award.
Nominations will close at 5 p.m. on Friday, June 7. Nomination forms are available at waynecoathena.com. All ATHENA award recipients will be announced before the dinner. The awards will be presented at the annual dinner at 6 p.m. on Thursday, August 8, at Forest Hills Country Club, located at 2169 South 23rd St. in Richmond, Indiana. The ATHENA Leadership Award® will be presented to an exemplary leader who has achieved excellence in their business or profession, served the community in a meaningful way and, most importantly, actively assisted women to achieve their full leadership potential. Previous award recipients include Mary Jo Clark, Jackie Carberry, Kim Poinsett, Angie Dickman, Janis Buhl-Macy, Melissa Vance, Tracie Robinson, and Kathy Girten. The ATHENA Young Professional Leadership Award celebrates emerging leaders. ATHENA Young Professional Leadership Nominees are 18-35 years of age. Nominees demonstrate excellence, creativity and initiative in their business or profession. They provide valuable service to improve the quality of life for others in their community and clearly serve as role models for young women both personally and professionally. Previous award recipients include Jessie Pilewski, Ashley Sieb, Roxie Deer, and Tai Muldoon. The ATHENA Organizational Leadership Award recognizes businesses and organizations that ignite, amplify, and celebrate leaders that are women. ATHENA organizational nominees are businesses or organizations, in the profit or non-profit sectors – who create an organizational culture that encourages women employees to achieve their full leadership potential or gives back to the larger community of women and girls by providing and/ or supporting leadership development opportunities and initiatives. Previous award recipients include Girl Scouts – Wayne and Union County Service Unit and the Boys and Girls Clubs of Wayne County. ATHENA International is a catalyst for developing diverse, transformative leaders worldwide through experiential programs that ignite, amplify, and celebrate girls, women, and allies —from young scholars to seasoned professionals. At the heart of everything we do are the Eight Principles of Enlightened Leadership™ (ATHENA Leadership Model®): Live Authentically, Learn Constantly, Build Relationships, Foster Collaboration, Act Courageously, Advocate Fiercely, Give Back and Celebrate. ATHENA is driven to bring empathy based, compassionate, and inclusive leadership culture to the workplace, educational institutions, and individuals. For over four decades, ATHENA International has recognized exceptional women and pioneering leaders with ATHENA Leadership Awards on global, national, and community levels. Their impact extends to nearly 8,000 award recipients who stand as change-makers and trailblazers, opening doors of leadership opportunities for girls and women in communities worldwide. The program is facilitated locally by Wayne Bank and Indiana University East, licensed ATHENA host organizations. Nominations are sought throughout the community and recipients are selected by a diverse group of community leaders based on the criteria above. ATHENA Leadership Award® recipients hail from all professional sectors. The award’s rich history, international scope and emphasis on mentorship make this award unique and amongst the most prestigious leadership awards one can receive. Award recipients demonstrate The Eight Principles of Enlightened Leadership™ in all aspects of their life. Wayne Bank and Indiana University East are honored to bring this award to Wayne County, established locally in 2014. ATHENA Leadership Award® recipients are presented with a hand-cast, bronze or crystal sculpture that symbolizes the strength, courage, and wisdom of ATHENA recipients. Proceeds benefit local organizations dedicated to serving leadership building for women of all ages. To nominate visit waynecoathena.com. For more information contact JoAnn Spurlock, Vice President, Director of Operations at Wayne Bank, at (765) 259-0209, [email protected], or IU East Office of External Affairs at (765) 973-8492 . Paul Sniegowski Ph.D., a distinguished biologist and the Stephen A. Levin Family Dean of the College of Arts and Sciences at the University of Pennsylvania, will become the 21st president of Earlham College and Earlham School of Religion on Aug. 1. He succeeds Anne M. Houtman, D.Phil., who will retire in July after a successful five-year term as president.
“Earlham has an important and longstanding place within the distinctive liberal arts tradition in the United States. It is a place that brings together a diversity of people to explore ideas, to learn to think and to go out and contribute to the world for good,” Sniegowski says. “Serving that ideal, and serving Earlham’s students and faculty, is why I am so excited to become part of the community.” An Indiana native, Sniegowski received his bachelor’s in music from the Indiana University School of Music; an M.A. in biology from Indiana University, Bloomington; and his Ph.D. from the University of Chicago. He joined Penn’s Department of Biology in 1997 after a postdoctoral fellowship at Michigan State University. Since his appointment as dean in 2017, Sniegowski has been responsible for the direction of Penn’s liberal arts undergraduate curricula, programs and students in academic departments and interdisciplinary programs across the humanities, social sciences and natural sciences. Sniegowski worked closely with faculty members and students in the College and across the university in adapting the College’s teaching during the COVID-19 pandemic, establishing consultative faculty committees to plan for online teaching and steering the College’s return to in-person instruction after the pandemic. Under his leadership, the college launched new minors in environmental humanities and data science and has initiated a review of its longstanding general education requirement. At Penn, Sniegowski is an advocate for first-generation, low-income (FGLI) students, participating in the establishment of the Penn First Plus Office and launching a student advisory board in 2018 to provide a voice for FGLI students in the College. He also has played a key role in Penn’s five-year grant to support inclusive teaching in the sciences through the Howard Hughes Medical Institute’s Inclusive Excellence 3 program, serving as project director in the first year of the grant. Sniegowski’s scientific work focuses on evolutionary and population genetic theory as a framework for understanding genetic mutation rates and mutational phenomena. His research has been supported by the Sloan Foundation, the National Science Foundation, the National Institutes of Health and NASA; he is a co-author on nearly 70 peer-reviewed and other scientific papers, has mentored dozens of graduate, undergraduate and high school students, and is an award-winning teacher. Throughout his career, Sniegowski has also maintained an active commitment to outreach and regularly engages with public audiences to promote better understanding of science. He is currently writing a book, Persistence of Error: A Natural History of Mutation, explaining genetic mutation for non-scientists. “Paul has been impressive and thoughtful in his excellent career as a faculty member specializing in evolutionary genetics and as dean of the College of Arts and Sciences at the University of Pennsylvania,” says Earlham Board Chair Tom Thornburg ’84. “He is a strong researcher, a frequently honored teacher, and much appreciated academic leader. His work as a faculty member and leader resonates with Earlham’s mission and Principles and Practices. He and his wife, Gail Kienitz, bring to us the knowledge of recent Earlham parents as well.” Sniegowski and Kienitz, a former associate professor of English at Wheaton College in Illinois, are parents to Ben Kienitz Sniegowski ’23. Their daughter, Emma Kienitz Sniegowski, is a 2018 graduate of Kenyon College. Paul and Gail — along with their Golden Retriever, Willa — look forward to deepening their engagement on campus and in Richmond. “We are coming to Earlham because we want to be a part of this community,” Sniegowski says. “We want to help make this evermore a place where, once you’re here, you don’t want to leave.” *** About Earlham College Earlham College and Earlham School of Religion foster a collaborative learning community that inspires and motivates students with transformative opportunities and experiences so they can become catalysts for good in a changing world. Located in Richmond, Indiana, Earlham is one of U.S. News & World Report’s Top 100 national liberal arts colleges and offers one of the top 20 classroom experiences in the nation, according to the Princeton Review. Media contactBrian Zimmerman Director of media relations Reid Health announced this morning their negotiations spanning the past several months with insurance provider Anthem/Blue Cross Blue Shield (BCBS) insurance have concluded with favorable results for Wayne County employers and residents. A Reid press release confirmed they will remain in-network with all Anthem/BCBS plans: commercial (employer-sponsored), Medicare Advantage, Managed Medicaid, and worker's compensation.
"Through this agreement, we see that Anthem and Reid Health are equally committed to investing in excellent rural healthcare," said Craig Kinyon, Reid Health President/CEO. "Our first priority has always been to ensure our patients have access to the care they need. We appreciate the patience and support of our community and patients as we have worked through this process." A letter sent to 44,000 patients in January gave a date of March 17 when patients under Anthem coverage would become out-of-network. Had this occurred, area residents would need to choose to pay the higher cost of care or utilize other providers. With Wayne County being medically underserved already, this would likely require many to drive out of the area for needed services. "I applaud the effort of both parties to ensure local residents and employees can receive medical care and remain in Wayne County to do so," said Chamber President and CEO Melissa Vance. "They now have the right to choose among several providers without having to compromise valuable time at work or with their families, and they can avoid the expense of travel." For businesses already operating in a tight labor market, the ability to ensure their employees are receiving preventative care is essential. Additionally, quick attention to medical concerns is often a significant factor in successful outcomes. Those with questions are encouraged to visit reidhealthaccess.org or call our community helpline at (765) 965-4250. For a complete list of Chamber member hospitals and healthcare providers, visit the Chamber business directory. Contact: Pamela Bliss, Festival Director
Phone: 317-696-7349 Email: [email protected] The Wayne County Murals Program (WCMP) is announcing a Call for Artists to enter the 2024 Wayne County Murals Competition. Artists will be commissioned to complete their mural artwork and compete for three prizes of 1st place - $10,000, 2ndplace - $5,000 and 3rdplace - $2,500. The competition is set to begin early summer with awards announced early fall, 2024. The Wayne County Murals Program “Call for Artists” is focusing on local, national and international artists aged 18 and up. The competition is already attracting entries from across the nation, however, and local artists, depending on artistic skill levels, will be given high consideration and are encouraged to apply. A panel of judges will jury entrants and the selected finalists will be assigned to predetermined walls in Wayne County. Artists will be selected for their qualifications of skill, creativity and experience with large scale projects among other qualities. A map of the murals will be available to the public during the competition. Completed murals will be judged by a qualified panel of judges. Winning artists will be announced early fall. Ten new murals will be brought to life during the competition and will also include a community mural where residents are encouraged to participate by adding their own artistic talents. These murals will join an already staggering 80+ murals that are depicted throughout Wayne County. The most recent mural completed in Cambridge City, highlights the history of the Overbeck Sisters and their impact to the surrounding community, Indiana and the nation. The Overbeck Sisters “Innovative Women IN Indiana” mural was made possible through an Indiana Destination Development Grant awarded in 2023. Those interested in applying should send an email of interest to Pamela Bliss, Wayne County Murals Programs, at [email protected] to receive a Request for Qualifications (RFQ) and Artist application information. Deadline to apply for consideration is April 1, 2024. Tentative timeline for mural installations will begin in July and completed by end of August, 2024. The competition is funded through the Wayne County’s Hoosier Enduring Legacy Program (HELP), Wayne County Convention & Tourism Bureau, Inc. and the Wayne County Foundation with program implementation managed by Pamela Bliss, WCMP Program Manager and the Wayne County Convention and Tourism Bureau, Inc. A possible economic slowdown would be mitigated by the ongoing worker shortage. A smaller workforce will define the economy in 2024. In fact, it will be the key economic challenge we face for the foreseeable future. A shortage of workers will be hard on businesses, but for some consumers it also means they will always be able to find a job that can support their spending. That will put a floor under any economic weakness in 2024. Smaller Workforce Is Key to Understanding Future Economic Trends Our workforce is too small because of simple demographics. The Baby Boomer generation was more than three times larger than the generation that came before it, the Silent Generation. As the Boomers entered the workforce in the early 1960s, labor force participation rose sharply. However, the following generation, Generation X, was smaller than the Boomers. The Millennial Generation is only slightly larger than the Boomers, and Generation Z is slightly smaller than the Millennials. This has created a demographic shortfall for the workforce. For economic growth, it is ideal for succeeding generations to be larger than the ones before them. Visualized, it should look like a triangle, with younger generations being larger than the ones that came before. Instead, we have an inverted triangle. This means that as Boomers retire and exit the workforce, there are not enough workers in the younger generations to fully replace them. Boomers will still be spending and consuming, so businesses will still need to meet strong demand, but they will have to do so with a smaller pool of workers. Worker Shortage’s Impact on the Economy in 2024 The economy is likely to slow in early 2024 because consumer spending is likely to slow. Consumers have relied on savings accumulated during the pandemic and credit card balances they paid down to keep their spending levels above inflation. Pandemic-era savings are largely gone for those who need them most, and credit card balances have risen sharply. Capacity to add more debt will be limited in 2024. This will weaken spending and growth. The economy grew over 5% in the 3rd quarter of 2023 and is tracking to grow over 1% in the 4th. Growth is projected to slow even further in 2024. For instance, the Chamber projects the economy will grow a scant 0.2% and 0.4% in the second and third quarters, respectively. That is a far cry from growth in the third quarter of 2023. The worker shortage will put a floor under how much the economy slows because job openings are going to remain far above the number of unemployed workers. Plus, wages have been growing smartly, and they are likely to continue to do so because the demand for workers outpaces their supply. Economic Headwinds Finally Take their Toll, Perhaps Enough for a Recession Even with plentiful jobs and strong wage growth, the compound effects of savings being spent down, credit cards spent up, higher interest rates, and lingering inflation will weigh heavily on the economy in 2024. The economy has still not fully absorbed the impact of higher interest rates that were necessary to fight inflation, and those higher rates will be a continuing drag on the economy. While inflation is coming down, it remains above the Federal Reserve’s (Fed) 2% target. That means it will remain a hefty burden on consumers’ budgets and reduce the chances the Fed can lower interest rates soon. All these factors add up to slowing consumer spending and a slowing economy in 2024 compared to a solid economy in 2023. Whether the consumer slowdown causes a recession remains an open question. It is possible the combined force of these headwinds causes a recession in 2024. A recession is defined as two consecutive quarters of negative economic growth. The last time we had two such quarters was the first and second quarters of 2022. Not many people remember those six months as a recession because key economic indicators such as jobs, spending, income, and manufacturing output all increased during that time – the first time they did so during a recession. The first half of 2022 is largely forgotten as a recession because on average the American people did not feel economic pain then. We could have a similar scenario in 2024. The economy could slow, perhaps all the way to the point of meeting the technical definition of a recession, but because businesses need workers so badly, we do not see widespread layoffs. In fact, businesses may keep hiring even as the economy cools. In that case, we could have another recession where there the America people do not experience much economic pain. Late 2024 and Beyond Forecast BetterOnce we emerge from that slowdown, the outlook for the U.S. economy is sunny for the remainder of 2024 and into 2025. Usually when an economy is hit with shocks, bubbles within the economy burst or weaknesses are exposed. We have had three large shocks in a row over the last three years (COVID-19 pandemic, inflation and higher interest rates) with no fallout, suggesting the underlaying state of the economy is strong. Once inflation falls further and the economy more fully absorbs higher interest rates, it is poised to grow robustly. Risks to the Positive ForecastAs is always the case, there are risks that could threaten the optimistic outlook. There are always unknown-unknowns, black swan events no one can predict that could imperil the economy – a pandemic, for instance. There are more tangible threats for the economy in 2024 though. The riskiest is a severe drop in the office space market. The prices of office space buildings in urban centers have plummeted because of higher vacancy rates and higher interest rates. This is putting their owners and the owners’ lenders in a tight spot and could lead to a credit crunch at regional size banks. These banks are crucial suppliers of credit to small and medium-sized businesses, and they are the largest lenders to the owners of office space complexes. These banks need to cut back on lending as they sort through their losses on office space loans. Geopolitics could also hurt the economy. Intensification of the Russia-Ukraine and Israel-Hamas wars could destabilize the global economy, which would hurt the U.S. economy. And there is always the chance of an unforeseen conflict arising. Lastly, there remains domestic U.S. political risk. Congress still needs to pass a budget for fiscal years 2024 and 2025. It also needs to raise the debt limit before January 1, 2025. Failure to do any of these would mean a blow to the economy. Bottom Line The economy faces serious challenges in 2024, as it always does. The worker shortage means consumers are better equipped to weather a potentially slowing economy to start the year. It also means that any slowdown is likely to be mild and that the economy is likely to rebound strongly. The Corporate Transparency Act, which goes into effect in January 2024, may require your small business to report information about ownership to the government.
The Corporate Transparency Act (CTA) is going into effect on January 1, 2024, impacting millions of small businesses across the U.S. Knowing the intricacies of this act and its potential impact is essential for small businesses. Otherwise, they may incur criminal or civil penalties for not filing or updating this report. What is the Corporate Transparency Act?Enacted in 2021, the CTA aims to combat illicit activity including tax fraud, money laundering, and financing for terrorism by capturing more ownership information for specific U.S. businesses operating in or accessing the country’s market. Under the new legislation, businesses that meet certain criteria must submit a Beneficial Ownership Information (BOI) Report to the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN), providing details identifying individuals who are associated with the reporting company. The CTA was established to prevent individuals with malicious intent from hiding or benefitting from the ownership of their U.S. entities to facilitate illegal operations which, according to Congress, is a widely-used tactic that affects national security and economic integrity. Who is considered a beneficial owner of a company? According to the CTA, an individual qualifies as a beneficial owner if they directly or indirectly have a significant ownership stake in a company. This person either has a major influence on the reporting company’s decisions or operations, owns at least 25% of the company's shares, or has a similar level of control over the company's equity. What information must be reported about a company’s beneficial owners? The details that reporting companies need to include in the BOI report vary based on the date their business was established. Businesses registered or established post-January 1, 2024, must provide information regarding the business, its beneficial owners, and its company applicants — including owners’ and applicants’ (if applicable) names, addresses, birthdays, and identification numbers (such as a license or passport number), and the jurisdiction of the documents. However, businesses established before that date can omit information regarding company applicants. All reporting companies must provide their legal name and trademarks, as well as their current U.S. address, which could be either the address of its main business site or, for foreign-based companies, their U.S. operational location. They’ll also need to provide a taxpayer identification number and specify the jurisdiction where they were formed or registered. Though no annual reporting requirement has been set, the initial filing period is not the only time you’ll be required to submit information, according to Roger Harris, President of Padgett Business Services. “In addition to the required initial filing, there are requirements to update the original filing when things change,” Harris told CO—. “Some of the things that require an updated filing are not things a business owner has ever thought were important to track, and the timeline to report these changes can be as short as 30 days.” Harris noted that business owners may be surprised by some requirements for updated filings. For instance, if a beneficial owner changes their address, legally changes their name due to marriage or divorce, or obtains a new driver's license, it may necessitate an update to a company’s BOI report. Operational changes or a new delegation of authority could also qualify. “If you make changes in the operation and delegation of duties within your business that could be considered to give a new person substantial control of your business, you could be required to update your filings, even if the person performing those duties did not own any of the business,” said Harris. What is the beneficial ownership information reporting process? Beginning January 1, 2024, reporting companies will have a limited time to file their initial BOI reports. For qualifying reporting companies established before the above date, the filing deadline is January 1, 2025. Those created between January 1, 2024, and January 1, 2025, will have 90 days from either the actual notice of formation or public announcement, whichever comes first, to file. Businesses established on or after January 1, 2025, will have 30 days from notification or public announcement of their formation to submit their first report to FinCEN. Two types of reporting companies will be required to submit BOI reports: domestic reporting companies, including LLCs, corporations, and other entities formed through filing with a secretary of state or a comparable office in the U.S.; and foreign reporting companies that are registered to conduct business in the United States through filing with a secretary of state or an equivalent office. Businesses will not incur a fee for submitting their reports, and electronic forms will be available on FinCEN’s website. Where can business owners get help with their beneficial ownership information reports? Though companies may opt to file their own BOI reports, Harris advised business owners against this. “It may not be difficult to complete the forms, but with everything a small business owner must do to operate a successful business, I fear this is something that could be missed or not done [promptly],” Harris explained. Instead, he recommends consulting a knowledgeable advisor, such as an attorney or an accountant, when filing the initial and/or updated reports to ensure they’re completed on time and to FinCEN’s standards. “There are some issues in the law that could require an interpretation of certain facts to determine who is a beneficial owner that must be included in the filings,” Harris said. “If you find yourself in this situation, ... consult with an attorney to help you decide how your set of facts fits within this law.” For those with a straightforward path, Harris believes an accountant or tax preparer may be sufficient. However, he cautioned that not all accounting and tax professionals will offer this service due to potential insurance policy limitations. “Some in the accounting and tax profession are not going to offer this service to their clients because the errors and omission policies these firms have will not cover these services,” Harris explained. “We are already seeing companies pop up that claim to be specialists in this area. If a business wants to go in this direction, they should make sure they choose a legitimate firm with the proper expertise and reasonable fees that will stand behind their work.” CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation. CO—is committed to helping you start, run and grow your small business. Learn more about the benefits of small business membership in the U.S. Chamber of Commerce, here. Published December 19, 2023 U.S. Chamber of Commerce
The shortage is caused by a combination of zoning and financing rules and supply-chain constraints. This commentary originally appeared in the Wall Street Journal May 16, 2022 print edition. America faces a housing shortfall. For too long, supply simply hasn’t kept up with demand or household formation. Fewer new homes were built in the decade following the 2008-09 financial crisis than in any decade since the 1960s. Estimates vary, but the U.S. needs at least 1.5 million more homes. The shortfall of affordable housing hurts America’s businesses and the broader economy by preventing workers from living in areas with economic opportunities but high housing costs. Employers are forced to operate below their potential because they can’t attract or retain workers. One study estimated that this misallocation could cost up to 2% of gross domestic product, or more than $400 billion a year in lost economic output. Housing costs also play a major role in inflation, making up the largest component of the consumer price index. While the two of us don’t agree on every issue, we agree that the shortfall is longstanding and must be addressed. The good news is that there are proven ways that the administration, Congress, state and local governments, and the private sector can work together to build and preserve enough homes to end the housing shortfall in America. Here are three: First, encourage the elimination of unnecessary barriers to housing production. For decades, exclusionary zoning laws—like minimum lot sizes, mandatory parking requirements and prohibitions on multifamily housing—have inflated costs and locked families out of areas with more opportunities. This year, the administration released three funding applications for competitive grant programs totaling nearly $6 billion that reward jurisdictions for land-use policies that promote density and rural main-street revitalization. Congress and state lawmakers can encourage such reforms as well. Second, address other constraints to the production of housing across the country, from rising material costs to labor supply challenges. Helping to alleviate supply-chain challenges and attract more workers into the building trades will help us turn the record number of housing units currently under construction into homes where Americans can live. Third, make it easier for developers to finance new housing, especially housing that is affordable to low- and middle-income families. To start, Democrats and Republicans in Congress have supported the creation and expansion of federal tax credits—like the low-income housing tax credit and the neighborhood homes tax credit—which are projected to enable the construction or rehabilitation of nearly one million affordable homes. Congress should enact and expand these credits without delay. At the same time the administration announces changes Monday to federal financing for affordable-housing development to address key market gaps and ensure these programs work more efficiently. While recent home price increases have created wealth and financial stability for millions of American families, for too many others, affording a place to live has become a source of stress and instability, holding back economic growth and exacerbating inflation. By addressing these issues and the regulatory barriers that impede the construction of new affordable homes, we can help bring down costs for families and speed economic growth. Ms. Clark is president and CEO of the U.S. Chamber of Commerce. Mr. Deese is director of the White House National Economic Council.  The Institute for Workforce Excellence is hosting a free webinar for employers to learn more about the Institute's Work and Learn Indiana program – specifically, how to create quality work-based learning opportunities and take advantage of EARN Indiana funding. Work and Learn Indiana has partnered with the Indiana Commission for Higher Education since 2013 to offer employers a 50% wage reimbursement for work-based learning experiences. In 2019, the program expanded to include high school students. The Employment Aid Readiness Network (EARN) Indiana program is available to employers that offer high-quality work-based learning experiences and hire an eligible Indiana high school or college student. Employers can be reimbursed up to 50% of the student's wages for a qualifying experience and can receive up to $30,000 per fiscal year! In this workshop, the Institute's team will walk attendees through connecting to the Work and Learn Indiana platform, posting internships, connecting with students and receiving EARN wage reimbursement. There are two opportunities to register for this webinar. October 18, 12:30 - 1:30 pm EDT October 31, 11:30 am - 12:30 pm EDT Click on the corresponding registration buttons below to register for the webinars - Work and Learn Indiana is a program of the Institute for Workforce Excellence,
a nonprofit subsidiary of the Indiana Chamber. 115 West Washington Street, Suite 850S, Indianapolis, IN 46204 |
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