The New Mexico Business Coalition will publish items of interest to business owners in this column.
Unemployment claims skyrocketed last week, nationally and in New Mexico: The weekly initial unemployment claims for the past week suggests that the U.S. economy came to a screeching halt, with millions of Americans losing their jobs and with the unemployment rate likely already 10% right now, and rising. New Mexico is following that model too with More than 28,000 New Mexico residents applying for unemployment benefits last week, over 50% more than the amount filed the previous week. NMBC is glad employees have options for unemployment benefits during this crisis and we are working hard to ensure employers are not penalized with increased unemployment insurance taxes too.
Help for employers; payroll and other financial assistance is available: For anyone who would like to apply for the federal Paycheck Protection Program or the COVID-19 Economic Injury Disaster Loan, you might consider registering for one of these webinars put on by the New Mexico Small Business Development Center. Time is of the essence in applying for these assistance programs because the money available is being dispersed on a 'first come, first served' basis.
The first link is to an article from Albuquerque Journal and second link is a guide to the CARES act.
New Mexico (March 17, 2020) — New Mexico Business Coalition (NMBC) today announced that it is calling on Governor Michelle Lujan Grisham for assurance that the recent Public Health Emergency Declaration will not only protect the public and workers, but also employers. The governor’s emergency order is being used to waive medical care costs to the public and waive existing rules for employees to receive COVID-19 related unemployment benefits. To protect businesses during this health crisis, the rules which increase unemployment taxes employers pay based on the number of workers who file claims and the balance of the state's reserve fund should also be waived.
The 2020 Legislative Session has concluded and it was a packed 30 days filled with emotional debates and elevated tensions. Between the House and Senate, law makers filed 914 pieces of legislation. Here’s a quick break down of what that looks like:
While the majority of these 914 bills never made it to the floor for a vote, here’s a recap of some of the highlights:
[Editor's Note: To see how each item fared, visit https://www.nmlegis.gov/ then choose Legislation, then the chamber and then insert the bill number.]
As part of NMBC’s commitment to keep you up to date throughout the 2020 legislative session, we have the latest on the session’s “Heroes” and “Zeros” as well as new bills that could affect you and your business.
First, some good policy and transparency 'Hero' bills: