What Biden’s Victory Means for Electric Cooperatives
Posted on Nov 10, 2020 in Climate Change, Legislative & Politics, Regulation & Policy, Renewable Energy | Comments Off on What Biden’s Victory Means for Electric Cooperatives
Joe Biden’s victory in the presidential race sets the stage for potentially sweeping environmental policy changes. However, his planned policy agenda would be muted by what now looks to be a divided Congress, with a Republican-led Senate and a diminished Democratic majority in the House. In the near term, Biden is expected to push for a broad economic stimulus plan shortly after he...
USDA Investment to Upgrade Arkansas Power Grid
Posted on Sep 21, 2020 in Grid & Infrastructure, Legislative & Politics | Comments Off on USDA Investment to Upgrade Arkansas Power Grid
US Sen. John Boozman and US Rep. Bruce Westerman recently announced that US Department of Agriculture (USDA) funds will go toward modernizing a power grid by installing fiber-optic cable to supply a secure high-speed communications path to nearly 60,000 Arkansas Valley Electric Cooperative customers. Specifically, a $151 million investment through the Department’s Electric...
House Bill Would Give Coops Tax Credits to Help Pay Retirement Costs
Posted on Sep 1, 2020 in Economic Downturn, Legislative & Politics, Tax | Comments Off on House Bill Would Give Coops Tax Credits to Help Pay Retirement Costs
NRECA is supporting a bipartisan House bill that would give electric cooperatives a temporary tax credit to help keep their retirement plans funded during the COVID-19 pandemic. The Preserving Employee Retirement Savings Act would provide a two-year tax credit for up to 20% of the retirement costs paid by coops and other small businesses experiencing hardships because of the pandemic....
NRECA Supports Bipartisan Legislation Giving Electric Cooperatives Tax Credit for Retirement Funds
Posted on Aug 28, 2020 in Legislative & Politics | Comments Off on NRECA Supports Bipartisan Legislation Giving Electric Cooperatives Tax Credit for Retirement Funds
The National Rural Electric Cooperative Association (NRECA) supports The Preserving Employee Retirement Savings Act, introduced by Reps. Brad Schneider, D-Ill., and Mike Kelly, R-Pa., which would grant electric cooperatives a two-year tax credit for up to 20% of their retirement fund costs. The tax credit could generate as much as $100,000 in 2020 and 2021 for each eligible electric...
US Department of Commerce Invests $4 Million in Workforce Training Center
Posted on Aug 24, 2020 in Legislative & Politics | Comments Off on US Department of Commerce Invests $4 Million in Workforce Training Center
US Secretary of Commerce Wilbur Ross recently announced that the Department’s Economic Development Administration (EDA) is awarding a $4 million grant to the North Dakota Association of Rural Electric Cooperatives to construct a new lineworker training facility in Mandan, ND. The EDA grant will be matched with more than $1 million in local investment.
Trump Administration Invests $371 Million to Improve Rural Electric Infrastructure in 11 States
Posted on Aug 17, 2020 in Financing, Legislative & Politics | Comments Off on Trump Administration Invests $371 Million to Improve Rural Electric Infrastructure in 11 States
The Trump Administration recently announced that the United States Department of Agriculture (USDA) is investing $371 million to build and improve critical electric infrastructure that will benefit more than 222,000 rural residents and commercial customers in 11 states. Specifically, this funding will help build and improve 3,741 miles of line to improve electric reliability and...
New Legislation in Congress Could Save Coops Billions
Posted on Jul 6, 2020 in Financing, Legislative & Politics | Comments Off on New Legislation in Congress Could Save Coops Billions
Members of Congress introduced a bipartisan bill Thursday in both the House and Senate that could save electric cooperatives more than $10 billion by allowing them to reprice loans from the Rural Utilities Service at current low interest rates.
NRECA Releases Statement on Social Justice
Posted on Jun 18, 2020 in Legislative & Politics, Regulation & Policy | Comments Off on NRECA Releases Statement on Social Justice
The National Rural Electric Cooperative Association (NRECA) released a statement on social justice in America expressing its commitment to promoting a positive and inclusive culture.
Senators Push to Ensure Eligibility of Cooperatives in Paycheck Protection Program
Posted on Apr 28, 2020 in COVID-19, Legislative & Politics | Comments Off on Senators Push to Ensure Eligibility of Cooperatives in Paycheck Protection Program
U.S. Senators Tina Smith (D-Minn.) and John Hoeven (R-N.D.) led a bipartisan group of senators in urging the U.S. Department of the Treasury and the Small Business Administration (SBA) to clarify that rural electric cooperatives are eligible for the Paycheck Protection Program (PPP), which was created under the Coronavirus Aid, Relief, and Economic Security Act to help small businesses...
New Congressional Aid Package May Help Coops
Posted on Apr 27, 2020 in Legislative & Politics | Comments Off on New Congressional Aid Package May Help Coops
Lawmakers approved an additional $320 billion in funds for the Paycheck Protection Program, for which some cooperatives may qualify. The funds may be forgiven if used to keep employees on the payroll and other designated purposes.
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