Presentations from the 2013 Government Affairs Conference are now available on the AWPA website, under the Past Meetings link on the Members Home Page. If you need assistance logging in to access the website, please contact Heather in the AWPA Office.
The Environmental Protection Agency (EPA) has issued a final rule that requires facilities to report non-trade-secret Toxics Release Inventory (TRI) forms to the agency using electronic software provided by EPA. Electronic reporting of TRI forms provides numerous benefits, including making it easier for facilities to report accurate information, expediting form completion due to the pre-population of many form elements, decreasing the cost to EPA of processing forms and providing TRI information more quickly to the public. The only exception to this electronic reporting requirement is for the few facilities that submit trade secret TRI information which will continue to submit their trade secret reporting forms and substantiation forms in hard copy. This final rule is effective on January 21, 2014. To read the rule in its entirety, follow this link.
AWPA has just learned that repeal of the Last-In-First Out (LIFO) accounting method might be included in a legislative proposal on tax reform currently being drafted by the House Ways and Means Committee. The Committee has been meeting behind closed doors so there is no concrete information about the proposal, but every indication is that LIFO repeal is on the table and that it might also include a retroactive recapture tax. Repeal of the LIFO method would increase tax bills for thousands of US manufacturers and would represent a retroactive tax increase which would have measurable negative economic consequences on jobs and economic growth. Furthermore, it would predominantly impact small- and mid-sized companies. Repealing LIFO and requiring companies to pay the retroactive “recapture tax” would leave those companies with a big tax bill, but with no additional cash flow with which to pay it. Consider contacting your Representative about this important issue. Click here to read more on this important development from Janet Kopenhaver, AWPA’s Director of Government Relations, including talking points to use in your communications with your Representatives.