Nextep's 2021 Annual Report is here! See what we accomplished together this year.

See How the Infrastructure Bill Affects Small Businesses

Pen on paper

President Joe Biden signed the Infrastructure Investment and Jobs Act into law on Monday, November 15, 2021. While the bill primarily focuses on the nation’s physical infrastructure, small business owners need to know what it means for them. 

The most significant impact for small businesses may be the Employee Retention Tax Credit ending, which was part of the Consolidated Appropriations Act (CAA). The tax credit has provided financial relief to businesses with fewer than 500 employees that were severely impacted by the COVID-19 pandemic. Because most companies are operational again, the ERTC retroactively ended on September 30, 2021

The bipartisan infrastructure bill could benefit the job market for small businesses ranging from construction firms to the energy and telecommunications industries. It also provides funding for energy efficiency upgrades and manufacturing modernization and grants for workforce training, which small businesses can access. Nextep will continue to monitor details impacting smaller companies.

Here’s a look at the details of the $1.75 trillion infrastructure bill:

Transportation

  • Roads, bridges, major projects: $110 billion
  • Passenger and freight rail: $66 billion
  • Public transit: $39 billion
  • Airports: $25 billion
  • Port infrastructure: $17 billion
  • Transportation safety programs: $11 billion
  • Electric vehicles: $7.5 billion
  • Zero and low-emission buses and ferries: $7.5 billion
  • Revitalization of communities: $1 billion

Other infrastructure

  • Broadband internet: $65 billion
  • Power infrastructure: $73 billion
  • Clean drinking water: $55 billion
  • Resilience and Western water storage: $50 billion
  • Removal of pollution from water and soil: $21 billion

Also on Nextep

On November 4, the White House announced that OSHA is issuing a COVID-19 Vaccination and Testing Emergency Temporary Standard (ETS) that applies to employers with 100 or more employees (covered employers*). Below are answers to questions you might have about the OSHA vaccine mandate as an employer.  Please note that a federal appeals court temporarily […]
Read more
On September 9, 2021, President Biden announced his action plan to fight the continued effects of the COVID-19 pandemic. The vaccine mandates outlined in the plan directly affect many employers, including businesses in the healthcare field or those with 100 or more employees. The safety requirements will be enforced by the Department of Labor and […]
Read more
In the US, cyber-attacks happen as often as every 39 seconds. As technology becomes more integrated into our personal and professional lives, prioritizing cybersecurity measures is critical.  Unfortunately, PrismHR, one of Nextep’s technology partners, was recently targeted by one of these threat actors, leading to a disruption in service for portions of Nextep’s online account. One […]
Read more
On Thursday, March 11, President Biden signed a new stimulus relief package, known as the American Rescue Plan, into law. The $1.9 trillion stimulus package is geared to boost the economy and help provide wider access to COVID-19 vaccinations in an effort to curb the effects of the ongoing pandemic.  This is the third stimulus package […]
Read more
It’s more critical than ever to make sure your business has a stable foundation. Businesses must be able to adjust to unforeseen circumstances and keep a solid financial footing through hard times. Here are 4 ways a PEO can help your business have more financial stability and weather trying times: PEO + OVERALL COST SAVINGS […]
Read more
After months of stalemate, a second COVID-19 relief package has been passed. On Sunday, Dec. 27, 2020, the president signed a $900 billion COVID-19 relief bill to help Americans through the ongoing pandemic. It is part of a larger package to keep the federal government funded through the current fiscal year. Our teams are digesting the details […]
Read more
We recently reported that President Trump signed an executive order and three memoranda for COVID relief. With no interference thus far from Congress, those orders are scheduled to become active September 1.  One of the memoranda we are most frequently asked about is the “payroll tax holiday.” This provision gives employers the option to let employees […]
Read more
In an ever-changing world, we know it can be a challenge to keep up with what’s new, especially when it comes to your business.  That’s why we want to make sure you understand the recently passed proclamation that impacts work visas. On June 22, 2020, President Trump issued a proclamation that extends the restrictions from […]
Read more
Please visit our COVID-19 resources page with more information for business owners and employees. The U.S. Department of Treasury and Small Business Administration (SBA) updated the Paycheck Protection Program (PPP) Loan Forgiveness application. Not only did the Treasury and SBA simplify the full loan forgiveness application, they also released a new EZ Forgiveness Application for […]
Read more
Employers are now prohibited from discriminating against LGBTQ+ employees On June 15, 2020, the U.S. Supreme Court ruled employment discrimination on the basis of a worker’s sexual orientation or gender identity is illegal under Title VII of the Civil Rights Act of 1964.  It is already illegal for employers to discriminate on the basis of […]
Read more
Please visit our COVID-19 resources page with more information for business owners and employees. Updates from the U.S. Department of Treasury and SBA. On June 10, 2020, the U.S. Department of Treasury and Small Business Administration (SBA) released additional guidance to provide clarity on the recently passed Paycheck Protection Program Flexibility Act (PPPFA). Here are […]
Read more
Recent events have brought discussions of diversity and inclusion, particularly around race, to the forefront. While we don’t have all of the answers, we do have some that may be useful to you within your own companies.  Q: What is the difference between diversity and inclusion? A: Diversity can include race, ethnicity, gender identity, age, […]
Read more

Download Our App