NACUBO On Your Side: October 17–23, 2023
10/23/2023
As things move quickly in Washington, DC, NACUBO is your constant advocate in action. NACUBO On Your Side covers important legislative and agency activity NACUBO staff are tracking, what we’re currently advocating for, and how you can take action with us.
Here are the issues we are tracking and advocating for this week.
On the Hill
Legislators Ask for Clarity on SNAP Flexibilities for Students
A bipartisan group of 17 lawmakers wrote to the Department of Education and Agriculture requesting guidance to clarify flexibilities and increase access to the Supplemental Nutrition Assistance Program (SNAP) for college students. A pandemic-era waiver of certain eligibility requirements for SNAP expired on July 1, meaning that some part-time and Federal Work-Study-eligible students no longer qualify for the program.
Agency Action
IRS Announces Withdrawal Process for Employee Retention Tax Credits
A special withdrawal process has been established by the IRS for employers that have submitted an Employee Retention Credit (ERC) and are concerned about its accuracy. The process permits certain employers that filed an ERC claim but have not yet received a refund to withdraw their claim and avoid future repayment, interest, and penalties. The introduction of this process follows a September 14 announcement that the IRS would stop processing new ERC claims through the end of this year due to concerns about a high volume of inaccurate claims.
Biden Administration Opens Applications for Inflation Reduction Act Bonus Credit
On October 19, the Biden administration announced that it would begin accepting applications for the Low-Income Communities Bonus Credit Program, which provides an increase of 10 to 20 percentage points to the Section 48 investment tax credit for projects located in qualifying areas. The Department of Energy has shared an interactive map to help applicants determine whether their project falls in such an area. Applications received within the first 30 days will be evaluated equally; subsequent applications will be considered on a rolling basis.
Advocacy
Higher Education Community Requests Extended Comment Period for Overtime Proposal
In a letter led by the American Council on Education to the Department of Labor (DOL), NACUBO and 30 other higher education associations requested a 60-day extension to the comment period on the DOL’s proposal to drastically increase the salary threshold for overtime pay. The community still plans to submit comments by the current November 7 deadline.
