Election 2020: Finding Balance & Acceptance | Shop Small Studio | REGISTER for the PCBC (Virtual) Traveling Network – Connecting Cross-County Businesses

Marred by doubt, disruption, and obstruction, the Presidential election has been like a death by a thousand cuts. Most of us are in a state of confusion, disbelief, and fear. Yet, this morning, after reading through a ton of articles by economic experts, I felt hopeful about a financial recovery for the first time in nearly eight months. Here is why.

Last week, while the market adjusted its sails in anticipation of a “Blue Wave”, the projected Democratic sweep amounted to more of a conspicuous polling discrepancy than a domination. Nevertheless, the Dow continues to rise – a strong indication that Investors are confident in the economy and its recovery, regardless of who is elected. This got me thinking and digging deeper.

While Wall Street typically favors a Republican-led White House, stock prices were moving up when polls indicated that Democrats would hold sway in both the Executive and Legislative Branch. Perhaps it was the hope of a beefy relief package that the Market was clamoring for and banking on. Even Republican Senate Majority Leader Mitch McConnell has voiced strong support for the passing of another stimulus bill before the end of the year. According to the Financial Times, if you look back through our history, the best period for U.S. stocks has been under a Democratic administration and a split congress.

From an economic viewpoint, if we follow Wall Street’s instincts and view all potential outcomes of this election as a balance, rather than cause for increased divisiveness, we can heal and prosper. Many people are fearful of the economy under a Biden presidency. Yet it seems even with the potential of a new Democratic administration, the Republican-led Senate will likely halt any corporate tax increases, a key point of apprehension from Wall Street. With the Federal Reserve continuing its “accommodative” stance, and minimal risk of tax increases and regulatory interference, combined with a Federal Stimulus Package, a rosier economic outlook may begin to bloom.

This is an unpredictable and unsettling time for the country and our county. We, as a community, must challenge ourselves to find common ground and start to make our way out of this mess. The future depends on it.

Our first event takes place on Thursday, November 12th from 6:30pm – 8:30pm with our co-host, the Putnam Valley Business Network.

After registering, you will receive a confirmation email containing information about joining the webinar.

The holidays are just around the corner – and they’re going to look a little different this year. Your support is integral to the Shop Small movement. Thanks for helping us encourage your community to share joy and Shop Small all season long.

Tell small businesses in your community about the Shop Small Studio

The Shop Small Studio is an online resource that small business owners can use to create and download complimentary custom marketing materials in just two minutes or less. From signage to social media posts, these materials can help small business owners encourage customers to Shop Small safely on Small Business Saturday^® (November 28) and all season long.

Share this helpful one-pager to get the word out

You can easily download this informative Shop Small Studio one-pager to share with small businesses. It tells them how to use the Shop Small Studio to promote their business – and reminds them to encourage their customers to Shop Small and share joy all holiday season long.

Our friends at hrsimple are hosting a webinar on November 18th that will cover how remote work has and will affect labor and employment laws during and after COVID-19.

The statewide positivity rate excluding these areas was 1.42 percent. Of the 133,534 tests reported yesterday, 2,126, or 1.59 percent, were positive. Total hospitalizations were at 1,253. Sadly we lost 14 New Yorkers.

There will be strict health and safety protocols put in place, including masks required at all times, except when eating/drinking or skiing/snowboarding, restricting gondolas and ski lifts to members of the same party, and limiting lessons to no more than 10 people.

We continue to lead the nation in testing and remember, any New Yorker who wants a COVID test can get tested. If you are experiencing COVID symptoms or believe you may have been exposed to someone positive for COVID, get tested. FIND a testing site near you.

The national campaign with videos featuring the voices of Ellen Pompeo, Paul Rudd, Billy Crystal, Anthony Mackie and more, have aired on TVs across the country and reached millions. Watch all the ads HERE. 

With the state facing a significant budget deficits, there will be tremendous pressure in Albany for new revenue measures. Even without the COVID-related deficits, there were calls for significantly increased spending on programs ranging from health care, education and childcare to public infrastructure and green energy. Moreover, “progressive” advocates (i.e., https://makebillionairespay.info/) are pushing a number of tax proposals not just to generate revenues, but to address broad “equity” issues. This memo provides an overview of current major revenue proposals being tracked by our Tax Committee, including several new areas of focus. In addition, it identifies a number of tax reform proposals that we support and that we will be advocating for in the 2021 legislative session. We welcome you input on any of these issues.

Assemblyman Kevin Cahill, long-time Chair of the Assembly Insurance Committee, recently introduced A.11026, which would repeal the state’s “No-Fault” automobile insurance law in five years. The sponsor’s memo states, “Advocates for comprehensive no-fault reform have demonstrated its failures, including abuse due to fraudulent claims and activities, sky-rocketing premiums and costs, questionable benefit thresholds, protracted processes and redundancy in primary health insurance. In fact, states such as Nevada, Georgia, Connecticut and Colorado have repealed their no-fault laws in favor of other insurance models.” Conversations with the sponsor’s office indicate that this marks the beginning of a multi-party conversation on no-fault insurance reform. The Business Council will continue to monitor the issue and will take an active role in any hearings or working groups to follow. The bill currently has no sponsor in the Senate. Please contact Lev Ginsburg for more information or to provide input on this proposal.

Last week the NYS Supreme Court, Appellate Division, Third Department, handed down a decision in CAPRARO v. MATRIX ABSENCE MANAGEMENT et al., which could have a serious impact on employers with employees working remotely from home. The case arises out of an injury sustained by an employee in his home while moving boxes of furniture that he intended to use for work. The employee had requested that his employer purchase said furniture and the employer denied the request. The court held that the Workers’ Compensation Board’s standard for employees working from home under which injuries are only compensable if occurring during regular work hours and while the employee is actively engaged in work duties as opposed to, for example, taking a short break or using the bathroom, is unsupported by precedent. The WCB was ordered to apply a standard which would determine whether claimant was engaged in a “purely personal” activity that was not “reasonable and sufficiently work related under the circumstances” with the court finding that “In making that assessment, the Board should bear in mind that a short break or some similar “[m]omentary deviation from the work routine for a customary and accepted purpose” does not constitute an interruption in employment sufficient to bar a claim for benefits.” “Likewise, although claimant was injured during his lunch hour, that fact alone “does not render injuries non-compensable provided other facts requisite to recovery exist” and recovery may still lie if the injurious act of moving furniture acquired for work use was “sufficiently work related and, therefore, not purely personal” under the correct standard.” This loose standard could have far-reaching implications for employers with remote employees. The Business Council will continue to monitor this case and will be poised to opine through an amicus brief should the parties appeal. This case, as all other cases, is fact-specific. Individual remote work agreements, arrangements and policies may differ and could render different results. We will update you on any forthcoming actions in the case and any others that have broad impact on employers.