Cutting Edge October 2020

Cutting Edge,

News and Ideas to Keep Your Business on
The Cutting Edge
October 2020
Did You Miss It? No Worries!
Last week, BMSA hosted our first Building Material Financial Basics Seminar for Beginner & Intermediate Managers. The recorded version of the session is now available for purchase!
Equip your rising managers with the skills they need to make knowledgeable financial business decisions. This course covers: Inventory Turns, Cash Flow, Profitability & Growth.
Thank you to our session sponsor Blue Tarp Financial!
Order your copy today by emailing Kelly at
Cost: $125 – pricing includes the slide deck and 3.5 hours of recorded instruction
House Passes Revised COVID-19 Relief Bill
Recently, the House of Representatives passed a revised “Phase 4” COVID-19 stimulus bill by a vote of 214-207. The legislation totals $2.2 trillion and addresses several areas of COVID-19 relief including supplemental unemployment insurance, expansion of the employee retention tax credit, renewal of the Paycheck Protection Program (PPP), state and local government aid, and direct payments to individuals. The bill is $1 trillion less than the House’s first Phase 4 proposal passed last May. A full summary of the legislation is below. 
All House Republicans voted against the legislation along with 18 Democrats. Senate Majority Leader Mitch McConnell (R-KY) opposes the House bill and it is not expected to receive a vote in the Senate. Negotiations between the White House and Speaker Nancy Pelosi (D-CA) took place throughout the last week of September but both sides are still far apart on a final Phase 4 bill. There remain significant disagreements over employer liability protections, supplemental unemployment insurance, and financial aid to state and local governments. 
The text of the bill can be found here. A one-pager on the legislation is here. A section-by-section summary is here.
For questions, please contact Director of Government Affairs Kevin McKenney at
(Source: NLMBDA Member Alert, Oct. 2020)
BWC Board Approves $1.5 Billion
For Ohio Employers
The Ohio Bureau of Workers' Compensation (BWC) Board of Directors recently approved Governor Mike DeWine’s proposal to send Ohio employers up to $1.5 billion in dividends to ease the impact of COVID-19 on Ohio’s economy and business community.
BWC will start sending checks to up to 200,000 private and public employers in its system in late October after first applying the dividend to any unpaid balances. The dividend follows a similar dividend in April, where the average check size was $8,500.
“Thank you to the BWC Board of Directors for approving a second round of dividends for Ohio employers,” said Governor DeWine. “The pandemic continues to impact businesses across Ohio, and we hope that this next round of dividends provides financial relief.”
The dividend equals 100% of the premium employers paid in policy year 2019. As in prior years, the dividend is possible because of strong investment returns on employer premiums, a declining number of claims each year, and prudent fiscal management.
“We’re grateful our strong fiscal position allows us to assist our business community during these unprecedented times,” said BWC Administrator/CEO Stephanie McCloud. “However, this means in all likelihood we will not issue a dividend in 2021.”
Of BWC’s $1.54 billion dividend in April, $1.35 billion went to private employers and $184 million went to local government taxing districts, such as counties, cities, townships, and school districts. 
(Source: Ohio Bureau of Workers' Compensation News Release September 25, 2020)
President Trump Rescinds
10% Tariff on Canadian Aluminum
The Trump Administration recently rescinded the 10% tariff on non-alloyed unwrought aluminum from Canada that was originally levied on August 16. The decision came after the Canadian government threatened retaliatory tariffs on U.S. aluminum imports. In their announcement, the office of the United States Trade Representative (USTR) said they had determined that trade in non-alloyed, unwrought aluminum is likely to normalize in the last four months of 2020 and duties were no longer needed.
USTR said they will consult with the Canadian government at the end of the year to review the state of the aluminum trade in light of trade patterns during the four-month period and expected market conditions in 2021.
(Source: NLDBMA E-Update, Sept. 2020)
Toolbox Talks
BMSA's most requested safety service!!
BMSA's Toolbox Talk Safety Program is an annual subscription that includes everything you need to conduct a year's worth of safety meetings:
  • 12 Industry specific, 1-page handouts
  • Manager instruction/resource page for regulatory support
  • Sign in sheets to satisfy documentation requirements
  • 3-Ring binder to keep it all together
Special 2020 Introductory Offer: $199
Annual renewals $225
(2021 pricing: $250 for series 1)