June 23 recycler update

COVID-19 Relief Programs:

• Treasury Secretary Steve Mnuchin and Small Business Administrator Jovita Carranza agreed to publish the names and amount ranges for all recipients of the Paycheck Protection Program (PPP) who received $150,000 or more. The agreement is designed to provide the public with transparency into the $659 billion federal program. For businesses that received more than $150,000, the SBA will disclose the business’s name, address, North American Industry Classification System code, ZIP code, business type, demographic data, not-for-profit information, jobs supported, and loan amount range. According to the SBA, loans of $150,000 or more account for 75% of the disbursed loan dollars. The decision to publish information of PPP recipients came as a result of bipartisan calls in Congress for more oversight of the government’s COVID-19 response.

 

• Last Friday, the SBA launched an online tool to assist small businesses and non-profits match with small lenders. The Lender Match tool is only meant to help businesses match with a lender for purposes of receiving a PPP loan. Small businesses or non-profits can enter their information into the tool and within two days, lenders that have matched will send them an email. From that email, a potential borrower can click on a link to begin the application process for a loan.

 
Congress:

• After a marathon two-day committee markup, the House surface transportation bill will be considered by the full House. Included within the bill are many provisions calling for safer vehicles. For example, one provision mandates crash-avoidance technologies in all new passenger vehicles. The Alliance for Automotive Innovation has not yet commented on the bill.

Automotive:

• As U.S. automakers restarted vehicle and part production in mid-May, industrial production rose 1.4 percent for the month. Manufacturing output also increased by 3.8 percent in May with the biggest gains being in the motor vehicle and parts industry.

 

• On June 22, Nevada Governor Steve Sisolak said that his state would adopt California’s zero emission vehicle mandate (ZEV). California’s zero emission vehicle mandate assigns automakers “ZEV credits” and automakers are required to maintain ZEV credits equal to a set percentage of non-electric sales. In 2019, the credit requirement would require about 3 percent of manufactured vehicles to be zero emission vehicles. The zero emission vehicle mandate is far more stringent than current EPA emissions guidelines.

ARA:

• On June 21st, ARA submitted regulatory comments to the Oregon Department of Motor Vehicles. ARA supported a proposed rule change, which would allow Oregon’s Department of Motor Vehicles to conduct an electronic record search for a vehicle in the National Motor Vehicle Title Information System (NMVTIS) prior to issuing an Oregon certificate of title. The proposed rule also gives Oregon DMV the ability to rebrand a vehicle’s title if it is found that the vehicle has an electronic record reported from a junk, salvage, or insurance entity.
  

           
https://www.a-r-a.org/covid-19
https://www.a-r-a.org/covid-19-resources