Senator Richard Shelby (R-AL) is trying to weaken debit card interchange fee reform "the Durbin amendment", which was included in the "Dodd-Frank Act." Following passage of Dodd-Frank, the Fed ultimately provided some consumer relief by capping debit interchange fees at 21 cents per transaction and 0.05 percent of the transaction plus an extra penny for card issuers for fraud prevention. Banks and credit unions with $10 billion or less were exempted under the law.

Sen. Shelby's language is included in the Senate Appropriations Committee FY 2016 Financial Services and General Government Appropriations bill which passed out of committee on July 23 by a 16 to 14 party line vote. The language would exempt more banks from the fee reform by indexing the $10 billion asset threshold to the national Gross Domestic Product (GDP) which will harm consumers and retailers by making fewer banks subject to the fee caps. PMAA, along with the Merchants Payments Coalition (MPC), is adamantly opposed to any weakening of the Durbin amendment.

Please contact your Senators and ask that they oppose the Shelby language change to debit card interchange fee reform that is in the appropriations bill. Click here to take action. 

Before Congress left town for August recess, the Senate Finance Committee approved a bill by a vote of 23 to 3 that would extend fifty-two tax provisions that expired on December 31, 2014. Unfortunately, the Senate Finance Committee adopted an amendment sponsored by Senators Grassley (R-IA), Maria Cantwell (D-WA) and Thune (R-SD) that would move the credit from the blender to the producer level. PMAA is opposed to the amendment because the credit will not likely be passed on to the marketer if it is taken at the production level. The language would also disconnect the credit from biodiesel consumption and simply be a subsidy for domestic production, which is contrary to the original intent of the biodiesel tax credit to promote the use of biodiesel in the marketplace. Finally, the change will likely violate several U.S. World Trade Organization (WTO) obligations. PMAA is working closely with NATSO and SIGMA to maintain the biodiesel credit at the blender level. We would also appreciate writing your members of Congress. Click here to do so.

Meanwhile, included in the package is a two year extension of the 30 percent investment tax credit for alternative fuel pumps, an extension of the 50 percent bonus depreciation to qualified property purchased and placed in service before January 1, 2017 and Section 179 expensing. The bill would also amend the Section 179 expensing limits so that, for the first time, the maximum deduction and phase will be indexed for inflation. In addition, the bill extends the $0.50 per gallon alternative fuel tax credit and alternative fuel mixture tax credit through 2016. This credit can be claimed as a nonrefundable excise tax credit or a refundable income tax credit for the blending and sale of alternative fuel mixtures, including compressed or liquefied natural gas, ethanol, biofuels, and liquefied hydrogen.

The bill would cost $96 billion over 10 years. House Ways and Means Committee Chairman Paul Ryan (R-WI) plans to consider tax extenders after the August recess. PMAA strongly supports these extensions and has worked with Congress on the renewals. 

This week, a letter spearheaded by API and signed by industry groups in 34 states (including several PMAA state associations) was sent to White House Chief of Staff Denis McDonough regarding EPA's proposed ozone standards. The letter urged the EPA to retain the standards currently in place. Specifically, the letter stated: "If finalized, EPA's proposed stringent ozone standards could limit business expansion in nearly every populated region of the United States and risk the ability of U.S. companies to create new jobs. Standards in EPA's proposed range would immediately add red tape to companies seeking to grow even in areas that can attain those standards. The Clean Air Act carries even stiffer consequences for nonattainment areas, directly impacting economic vitality of local communities and making it difficult to attract and develop business." Click here to read the letter.

EPA plans to issue a final rule on a new national ozone standard by the court-ordered deadline of October 1, 2015. Last year, EPA issued a proposed rule on ozone to tighten the standard to 65 to 70 parts per billion (ppb), down from the 75 ppb set by a George W. Bush-era rule. EPA is also seeking comment on possibly setting it as low as 60 parts per billion or maintaining it at its current standard.

If EPA succeeds in adopting this new standard, it will have a significant negative consequence for gasoline refiners and retailers. The United States could see over 200 new counties impose RFG and/or lower RVP requirements for gasoline which would increase the cost of gasoline and stifle economic growth.

PMAA is opposing this controversial proposed rule and supports legislation maintaining the current ozone standard. PMAA will also be following up with its own letter next week to the White House.

NACS has held an annual meeting every year since its founding in 1961, but it wasn't until 1976 that the meeting included a full-scale expo, which was part of the meeting every two or three years. The addition of the expo demonstrated to suppliers that convenience stores were the channel of choice to move products. In 1993, the annual meeting became the NACS Show. The Petroleum Marketers Association of America (PMAA) has held its Fall Meeting as part of the NACS Show since in 1995 and the Petroleum Equipment Institute (PEI) has held its annual meeting as part of the NACS Show since in 2002.

PMAA's Fall Meeting will be held on October 10-11 at the Las Vegas Convention Center's North Hall, Level 2. Please view all current information here. Housing cancellations without penalty closes September 7, 2015. Changes and reservations can be made up until the start of the show and are based on availability. The NACS Show registration is separate from the PMAA Meeting Registration!

NACS has announced Chris McChesney, the national best-selling author of The 4 Disciplines of Execution, as Sunday's General Session speaker. In his current role as global practice leader of execution for Franklin Covey, McChesney is one of the primary developers of the 4 Disciplines of Execution. For more than a decade, he has led Franklin Covey's design and development of these principles, as well as the consulting arm that has become the fastest growing area of the company.Known for his high-energy and engaging message, McChesney has personally led many of the most noted implementations of the 4 Disciplines, including for the state of Georgia, Marriott International, Shaw Industries, Ritz Carlton, Kroger, Coca-Cola, Comcast, FritoLay, Lockheed Martin and Gaylord Entertainment.

Monday's General Session speaker is Connie Podesta, an award-winning author, comedian and expert in the psychology of human relations, as well as sales and leadership - and she's not your typical motivational keynote speaker. Podesta motivates audiences differently by fueling them with exciting new ideas, mindsets, attitudes and solutions to empower them to tackle even the toughest challenges in today's crazy 24/7 world. Podesta started doing comedy when she was 14 and never looked back; her humor allows her to tackle even the toughest issues organizations face with substance and style. She helps you and your team understand why it's important to change behaviors, re-think attitudes, re-assess old ideas and get on board to make things happen!

Since 1994, Ideas 2 Go has featured hundreds of interviews with retailers from 38 states and five countries, showcasing the industry's best practices. Each year, a new Ideas 2 Go program makes its debut at the NACS Show and attracts thousands of attendees looking for new ideas to implement in their stores. This will be Wednesday's General Session focus plus 2015-2016 NACS Chairman Jack Kofdarali.