Inside the Beltway Update

The electoral map is now finalized, with President Trump winning all seven swing states, securing 312 electoral votes to Vice President Kamala Harris’s 226. Beyond taking the White House, Republicans also flipped multiple Senate seats to gain a 53-47 majority. While a few House races remain undecided, Republicans will likely end up with 220 seats (minus former Congressman Gaetz (R-FL). And then you have Reps. Waltz (R-FL) and Elise Stefanik (R-NY) departures for the Trump administration which means there are potentially just 218 GOP seats.

Worth noting is a report by Reuters which indicated that President-elect Donald Trump’s transition team plans to kill the $7,500 EV tax credit tax credit which is viewed by the Trump transition team as an easy target for elimination to help pay for tax cuts. Elon Musk’s Tesla potentially benefits if the EV tax credit is eliminated because it could hurt EV competitors more than Tesla. Meanwhile, Rep. Rick Crawford (R-AR) is expected to the be next chair of the Transportation Committee and Senator Shelly Moore Capito (R-WV) is expected to head the Senate Environment and Public Works Committee. Both indicated that EVs need to pay their fair share into the Highway Trust Fund to keep it solvent.

Washington’s “Lame Duck” period promises to be action-packed as Congress works to wrap up the 118th Congress and lay groundwork for the 119th. On Wednesday, Senator John Thune (R-SD) was elected to succeed Senator Mitch McConnell (R-KY) as the next Republican Senate Leader and Senate Majority Leader. Across Capitol Hill, many expect Speaker Mike Johnson (R-LA) to continue as Speaker when the 119th Congress begins. Beyond Chamber leadership, a key focus for House and Senate leadership over the next few weeks will be finalizing committee leadership and building out committee rosters.

On the legislative front, Congress returned this week to begin the “Lame Duck” period with the House remaining in session until November 21 and the Senate until November 22. Both Chambers will return on December 3 to consider hurricane relief funding and two must-pass items — extending Fiscal Year 2025 government funding and the National Defense Authorization Act (NDAA). A Continuing Resolution (CR) is expected to extend the spending negotiations into late Q1 2025, but there is optimism that the NDAA may advance before year-end.

Meanwhile, EMA, along with several trade groups, sent a letter urging Congress to extend several energy tax credits that are set to expire at the end of this year including the biodiesel blender’s tax credit. Click here to read the letter.

As a reminder, Representatives Mike Carey (R-OH), Claudia Tenney (R-NY), Annie Kuster (D-NH) and Mariannette Miller-Meeks (R-IA) introduced the “Biodiesel Tax Credit Extension Act of 2024,” (H.R. 9060), which aims to extend the $1 per gallon biodiesel blender’s tax credit through 2025. Extending the biodiesel blender’s tax credit is important to energy marketers in order to sell a growing portfolio of affordable, efficient, and environmentally friendly liquid fuels that are helping to reduce emissions while propelling Americans forward and lowering heating fuel costs.

Unfortunately, the Inflation Reduction Act (IRA), which was signed into law in 2022, replaced the biodiesel blender’s tax credit with a new 45Z Clean Fuel Production Credit (CFPC) based on carbon intensity scores. Ethanol, biodiesel, renewable diesel and sustainable aviation fuel (SAF) will all be eligible for the new production tax credit, however, the Department of the Treasury has yet to publish CFPC guidance. Therefore, it is important that Congress acts soon to extend the biodiesel blender’s tax credit to give impacted industries market certainty for at least another year. Depending on the outcome of the November elections, a GOP controlled Congress could reevaluate much of the IRA’s tax credits so stay tuned.

• Heating fuels marketers -- click here to write Congress to extend the Biodiesel Blender’s Tax Credit.
• Motor fuels marketers -- click here to write Congress to extend the Biodiesel Blender’s Tax Credit.

Significantly, on November 19, the Senate Judiciary Committee will hold a hearing on excessive swipe fees titled, “Breaking the Visa-Mastercard Duopoly: Bringing Competition and Lower Fees to the Credit Card System.” This is the first swipe-fee-related hearing since May 2022, signaling possible momentum for potential legislative action before the year’s end.

Click here to Support the Credit Card Competition Act.

EMA Legal Reminder: VISA/MasterCard Settlement Administrator Holding Free Webinar on November 21^st at 2pm EST

After the VISA/MasterCard case was filed over 18 years ago, and over 5 years since the court approved the September 18, 2018 Class Settlement Agreement, the Class Administrator of the $5.5 billion payment card interchange fee settlement fund has mailed out claim forms to retailers/marketers who may be eligible for a share of the Settlement Fund. The Court granted an extension of the claims-filing deadline. The deadline to submit claims is now February 4, 2025.

1. The Co-Lead Counsels and Settlement Administrator in the Visa/Mastercard interchange class action settlement are hosting a free webinar on November 21^st at 2pm EST for retailers to learn how to claim their share of the $5.5 billion settlement. Click Here to Register

2. Claimants must have accepted VISA and/or MasterCard as payment for their sales of goods or services between January 1, 2004 and January 25, 2019. Claim Forms must be submitted by February 4, 2025. If you received a Claim Form in the mail and want to file a claim online using the Claimant ID provided, please click the “Submit a Claim” button” at this link: https://www.paymentcardsettlement.com/en.

3. Branded Marketers should submit a claim, for branded sales, even though there is currently a dispute about whether they or their branded supplier is entitled to recover the settlement share for credit card sales through their branded supplier’s respective systems. As previously reported by the Energy Marketers of America (EMA), a Special Master has been appointed by the court to hear appeals from denials of eligibility, such as claim denials based on the alleged status of branded retailers as indirect payers.

4. The Claims The actual claim amount, per $ of sales approved, will be calculated after the Claims Administrator calculates the total amount of the Claims submitted. If you receive a claim form in the mail, fill it out and return it to the Settlement Administrator in accordance with the instructions on the form using the assigned Claim ID number. If your claim is denied, you will be able to bring it before the Special Master for review. If you did not receive a form, you can access the settlement website below and enter your Tax ID number (TIN) to find out whether the Settlement Administrator considers you eligible at http://www.paymentcardsettlement.com/en/Login.

While EMA has not secured the procedures to be utilized by the Special Master, a determination of ineligibility obtained by accessing the above-referenced login information should be sufficient as a denial of your claim to warrant an appeal to the Special Master.

Please note that the “Court Approved Claim Form" is only 1 page long. Other than claimant identification, it only contains one substantive question. It requires a claimant to fill in the blank for "Class Period (January 1, 2004 -- Jan. 25, 2019) Interchange Fees Paid.” Marketers should not need any assistance in completing or filing their claims. A fund this large attracts firms who think of inventive ways to obtain some of the settlement. We have heard from several marketers who have received solicitations to assist with their claims due to the anticipated long delay until payout. Given that this case was filed in 2005, the time until payout is unknown, but it will likely be lengthy. Marketers may of course choose their own path but should understand that filing their claim form is simple.

If your claim is denied on the ground that you are an “indirect payer,” and you wish to lodge an appeal, you may want to first seek guidance from your attorney, although you are free to file your appeal without attorney assistance. The primary basis for any such appeal would be that you are, in fact, a direct payer of the interchange fees paid on each card transaction.

Comments and/or Questions? Please contact EMA General Counsel: Bob Bassman, bbass@bmalaw.net or Al Alfano aalfano@bmalaw.net.

Weekend Reads

Exclusive: Trump's transition team aims to kill Biden EV tax credit

Leave the oil to me: Trump vows to unleash US energy, undo key Biden rules in 2nd term

Trump picks Lee Zeldin to lead EPA

Shell wins appeal against landmark Dutch climate ruling

US dependence on Canada's oil should deter Trump tariffs, industry says | Reuters

EMA-Worldpay Partnership Reduces Card Processing Fees

EMA and Worldpay have partnered over the years to bring energy marketers the lowest possible transaction cost in the industry. Participants in this program enjoy reduced fees as a result of processing efficiencies. With no hidden fees, percentage rates or complicated statements, the program offers EMA members a flat $0.029 cent transaction fee after interchange on all card payments.

Worldpay provides leading payments processing services across multiple industry verticals. Utilizing traditional point-of-sale technologies to mobile devices, customers can accept payments anytime, anywhere. From transaction capturing and processing to merchant acquiring, Worldpay provides insightful expertise, seamless delivery and valued relationships.

To learn how Worldpay can serve your payment card processing needs or to set up your account, please call our EMA Account Sales Representative, Erick Wilde or 813-600-0447.

Federated Insurance Employment Practices Network HR Question of the Month

Federated Insurance’s HR Question of the Month focuses on employment-related practices liability issues. This month’s question is: Celebrating Birthdays. We are a small office with a hybrid remote/in-office work arrangement. We are trying to boost employee morale and get employees to come into the office more often. Are we allowed to celebrate employees’ birthdays? Please click here to read the response.

For additional information or to discuss this in further detail, please feel free to contact your Federated regional representative or EMA’s National Account Executive Patrick Cunningham at 507.455.8935. Federated is a Partner in EMA’s Board of Directors Council.

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