PMPA Western Chapter Golf Outing
Thursday, August 3, 2023 (9am – 2pm US/Eastern)
Arrowhead Gold Course
2170 Alden Nash NE
Lowell, MI 49331
PMPA would like to thank everyone who participated. Please look out for future events.
Month: June 2020
Thursday, August 3, 2023 (9am – 2pm US/Eastern)
Arrowhead Gold Course
2170 Alden Nash NE
Lowell, MI 49331
PMPA would like to thank everyone who participated. Please look out for future events.
Wednesday, July 26, 2023 (5pm – 7pm US/Central)
1133 N Old World 3rd Street Milwaukee, WI 53203
Thank you to everyone who came out to network. Please look out for future events.
Thursday June 04, 2020
At 7:05 pm Eastern today, June 3, 2020, the U.S. Senate passed without objection the House drafted Paycheck Protection Program Flexibility Act endorsed by PMPA providing small businesses greater flexibility when using loans under the Paycheck Protection Program (PPP). The legislation, which passed overwhelmingly in the House on May 28 by a vote of 417-1, makes critical changes supported by the PMPA to the PPP. This is the second in a series of three bills making changes to the PPP the PMPA helped create in the CARES Act President Trump signed into law on March 27.
Following the Senate’s passage, the bill now goes to President Trump’s desk for his signature for a bill that will extend the PPP forgiveness period to 24 weeks, loan terms to five years, and safe harbor date to December 31 from June 30, among other provisions.
PMPA activated immediately to fix many parts of the PPP following surveys of our members – 47 PMPA member companies sent 144 messages to Capitol Hill calling on lawmakers to make these changes, and we succeeded. This proves when you show up, we can make a difference.
PMPA’s lobbying team in Washington, D.C., The Franklin Partnership, is working with the White House, Senate, and U.S. House of Representatives to update the PPP and provide clarity and tools to help our members during COVID-19.
The Franklin Partnership received confirmation from the top Democratic tax writer in the House that he is committed to addressing the deductibility of wages as expenses in the next legislation expected to move in July, reversing the IRS Notice to the contrary. Our PMPA members understand how critical this fix is as the IRS decision to not permit the deduction under PPP increases the tax liability for pass-through businesses, such as S Corporations, by a tax rate increase as high as 37% and for C-Corporations, an increase as much as 21%.
In addition to securing that commitment in this bill about to become law, the PMPA succeeded in its lobbying efforts to:
Our fight is not yet done and we continue to make things happen in Washington, due to your engagement and responses. While this is an important victory, we have much work ahead of us on expensing of wages, clarification of forgiveness terms, and other ways to make the PPP work better for our members.
We thank all PMPA members for their calls and emails to Capitol Hill, and to the team at The Franklin Partnership for their “Yeoman efforts” on our behalf.
Released June 3, 2020.
You may have not heard but July 1st USMCA goes into effect. Miles explains what we know and what we don’t know so far on this topic.
Billie Henning, Henning Industrial Software
Billie Henning of Henning Industrial Software will discuss the basic process of tracking and assigning direct and indirect costs to jobs. She’ll share what should be included in direct and indirect costs. A comparison of actual costs verses estimated costs will will be discussed.
“Economic activity in the manufacturing sector contracted in May, and the overall economy returned to expansion after one month of contraction. “The May PMI® registered 43.1 percent, up 1.6 percentage points from the April reading of 41.5 percent. This figure indicates expansion in the overall economy after April’s contraction, which ended a period of 131 consecutive months of growth.”– Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee
“The coronavirus pandemic impacted all manufacturing sectors for the third straight month. May appears to be a transition month, as many panelists and their suppliers returned to work late in the month. However, demand remains uncertain, likely impacting inventories, customer inventories, employment, imports and backlog of orders. Among the six biggest industry sectors, Food, Beverage & Tobacco Products remains the only industry in expansion. Transportation Equipment; Petroleum & Coal Products; and Fabricated Metal Products continue to contract at strong levels,” says Fiore.
It has been our thinking that the economy itself is strong, but the exogenous shock- the impact of not just the corona virus but also the government ordered shutdowns- have caused the current weakness. We believe that the recovery will be positive based on this underlying fundamental economic strength. Here is how ISM see’s this issue:
“A PMI® above 42.8 percent, over a period of time, generally indicates an expansion of the overall economy. Therefore, the May PMI® indicates the overall economy grew very slightly following contraction in April, which ended a 131-month period of growth. The manufacturing sector contracted for the third consecutive month. “The past relationship between the PMI® and the overall economy indicates that the PMI® for May (43.1 percent) corresponds to a 0.1-percent increase in real gross domestic product (GDP) on an annualized basis,” says Fiore.”
May 2020 ISM PMI
Graph courtesy Calculated Risk Blog
Published June 2020
By Carli Kistler-Miller
Victor DaCruz, owner of DACRUZ Manufacturing in Bristol, Connecticut, shares industry experiences and his perspective on PMPA.
Published June 2020
By Miles Free III
Growing up, I learned that necessity is the mother of invention. During the recent COVID-19 crisis, many of us found out that necessity is indeed a cruel mother.
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Released June 1, 2020.
Miles Free is joined by special guest Michael Devoss of Outokumpu Stainless Bar to discuss the new release of the 2nd edition of Outokumpu’s Machining Handbook.
June 2020
Craftsman’s Cribsheet #85
What are some things to look for when using an outside heat treater for the first time? Here are some ideas to start the conversation. What else would you ask? Is packaging a concern, special labeling? Handling?.