Author: sHq_LoGiNz

Highlights

• Together, we exceeded the $88B CBP Pledge to uplift low- and moderate-income (LMI) communities.
• Over four years, PNC delivered $119.3 billion in capital, loans, and philanthropic giving to expand homeownership, bolster small businesses and revitalize neighborhoods.
• Building on lessons from the Plan, PNC will focus future investments on advancing housing affordability to address growing national demand.

At the close of 2025, PNC marked the successful completion of its ambitious four-year Community Benefits Plan (CBP) launched January 1, 2022, and concluded December 31. Surpassing our original $88 billion commitment with $119.3 billion in capital investments, loans and philanthropic support, PNC expanded homeownership, small business growth and community revitalization initiatives in low- and moderate-income (LMI) communities nationwide.

“These outcomes reinforce PNC’s strategy to pair scale with intentional impact-directing capital to the neighborhoods that need it most,” said PNC Chairman and CEO Bill Demchak. “We are proud of our impact on the people and businesses in our communities, and I appreciate those of you who made this important work happen.”

Over the plan’s four years, PNC teams collaborated across the bank to widen the path to homeownership, steady small businesses and help to revive long-neglected communities. In neighborhoods from Pittsburgh to Phoenix, PNC delivered a cumulative:

• $119.3 billion in total capital deployed across loans, investments and philanthropic giving, representing nearly 136 percent of commitment.
• $79.7 billion in home lending, impacting more than 70,000 borrowers.
• $19.4 billion in capital to support small business growth in underserved communities.
• $20.1 billion in community financing loans and investments supporting affordable rental housing, commercial revitalization and economic development in LMI communities, including more than $644 million in loans and investments nationwide to Community Development Financial Institutions (CDFIs) to support community lending.
• Nearly $523 million in grants, charitable sponsorships and mortgage assistance supporting education, housing and economic opportunities and financial wellness.
• The fulfillment of $1.5 billion to help meet community needs and advance economic empowerment.
• Completion of 19 new branches and 25 remote ATMs in LMI communities, along with the launch of 10 mobile banking units primarily dedicated to servicing LMI communities.

In the plan’s final year, PNC delivered more than $33.8 billion in capital to catalyze investment in LMI communities including $23 billion in home lending, $5.9 billion in community financing loans and investments, $4.8 billion supporting small-business growth and $140.7 million in grants and charitable giving to strengthen communities across PNC’s footprint.

^{Stacy Juchno, Chief Corporate Responsibility Officer}

“Delivering and surpassing our $88 billion pledge demonstrates our ability to expand access and economic opportunities where they’re needed most,” said Chief Corporate Responsibility Officer Stacy Juchno. “Working together, we’ve shown what’s possible when capital, community partners and focused strategy come together to create opportunity and strengthen neighborhoods, particularly those that have been historically underserved.”

Although the four-year plan concluded in 2025, PNC’s commitment to maximizing impactful outcomes continues. Looking ahead, we intend to draw on insights and lessons from the Community Benefits Plan to deepen investments in housing affordability and neighborhood revitalization to meet growing national demand.

Taco Bell blog

For years, Taco Bell’s iconic hot sauce packets have been part of fans’ biggest and boldest moments, from elevating everyday meals to inspiring fashion statements and even unforgettable marriage proposals. But while these packets deliver big flavor, they’re made from single-use flexible film materials that can be difficult to recycle through traditional curbside systems.

In 2021, Taco Bell and TerraCycle® teamed up to pilot a first-of-its-kind national recycling program for used sauce packets, aiming to help keep hard-to-recycle packets out of landfills. In five years, TerraCycle® and Taco Bell have proudly collected one million sauce packets and single-serve containers through the Taco Bell Sauce Container US Recycling Program to be repurposed or recycled.

“I’m so excited and proud of us reaching the one million mark! It’s such a huge number and such an accomplishment. It’s so impactful to see how much our passion for sustainability is shared by others outside of our team just from seeing the engagement and participation numbers grow every year.” said Grace K., Nutrition and Sustainability Analyst and Taco Bell lead for the US Recycling Program with TerraCycle.

Whether it’s sauce packets, sauce dipping cups, souffle cups and lids, or even coffee creamer pods, this program accepts all brands and types of empty sauce containers, not just Taco Bell’s. It’s open to anyone across the contiguous U.S.

ICYMI: How The Program Works:

Participation is simple, free, and rewarding:

1. Sign up for the program through TerraCycle. Pro tip: use the same email address as your Taco Bell Rewards account to be eligible for bonus Taco Bell Rewards points throughout the year! More details here.
2. Collect your empty sauce packets and other accepted single-serve containers in any box you have on hand.
3. Print a free shipping label by logging in to the TerraCycle portal.
4. Ship your full box to TerraCycle — they’ll rinse, sort, process, and recycle the materials into raw recycled material.

Thank you to our fans and communities for helping collect more than one million items. What a milestone!

Learn about TerraCycle and the program here. Enrollment limits may apply. This program is only available in the U.S.

Authored by Baker Tilly’s Tosca Derrick 

Billions in potential tariff refunds are moving closer to reality, but not all importers will benefit at the same time.

A March 31, 2026, declaration filed with the U.S. Court of International Trade (CIT) lays out how U.S. Customs and Border Protection (CBP) plans to begin processing refunds tied to tariffs imposed under the International Emergency Economic Powers Act (IEEPA). This latest CBP guidance on tariffs provides the clearest signal yet on what will be recoverable now, what will take longer and where companies may face limitations.

At the center of the effort is a new system capability within the Automated Commercial Environment (ACE), known as the Consolidated Administration and Processing of Entries, or CAPE. This system is being built to handle refund claims at scale, introducing new processes that will directly affect how and when importers can recover duties.

For companies navigating IEEPA exposure, the message is clear. Opportunity is emerging, but it will require a targeted, well-timed approach.

A system under construction with real financial impact

The declaration confirms that CBP is building CAPE as a multi-component solution designed to handle the scale and complexity of IEEPA-related refunds. These components include a claim portal, mass processing engine, review and reliquidation functionality and a refund module.

Progress is advancing, but the system is not fully there yet. The claim portal is nearing completion at about 85%, while mass processing is still developing at around 60%. The review and liquidation component is further along at roughly 80%, with refund functionality close behind at about 75%.

That uneven progress is important. It signals that while the infrastructure is coming together, not every refund scenario will be supported at launch. Instead of a single, fully functional release, importers should expect a phased rollout that expands over time.

Phase one: limited scope, immediate opportunity

CBP’s initial rollout of CAPE will focus on a narrower set of entries. In phase one, the system will handle unliquidated entries as well as those still within the 90-day voluntary reliquidation window.

Together, those categories represent roughly 63% of entries impacted by IEEPA duties, meaning most refund opportunities will be accessible early, but not all.

However, the system will not initially process entries where liquidation is final. Those cases are deferred to future phases, creating a gap that many importers will need to actively manage through other legal or administrative avenues.

From a strategic perspective, this creates a clear prioritization framework. Companies should focus first on entries still within actionable timelines, where recovery is most immediately achievable.

Importantly, refunds will not be issued automatically. Importers will need to take action through CAPE to initiate and support claims.

Refund mechanics are changing: digital is now mandatory

As part of evolving CBP guidance on tariffs, one of the more operationally significant updates is the shift to fully electronic refunds. As of February 2026, CBP requires that all refunds be issued via electronic funds transfer, with limited exceptions.

The scale of readiness is notable. More than 26,000 importers of record have already enrolled, representing approximately 78% of impacted entries and more than $120 billion in associated duty value.

For companies that have not yet completed enrollment, this is a critical dependency. Without proper setup, even approved claims may face delays in disbursement.

What CAPE will and will not handle in early stages

Phase one introduces some important nuances in how entries will be handled. In certain cases, IEEPA duties will be removed and recalculated, but refunds will not be issued right away. Instead, those entries will move through the normal liquidation process, with refunds issued at that point.

Other categories bring additional complexity. Entries tied to antidumping or countervailing duties may remain suspended until the Department of Commerce provides liquidation instructions. Warehouse entries will also continue to follow standard timelines, meaning refunds will not be immediate even after adjustments are made.

At the same time, some entries are excluded from phase one altogether. These include reconciliation entries, drawback claims, entries under active protest and certain AD/CVD cases that are already pending liquidation instructions.

Taken together, these limitations make it clear that CAPE is not yet a universal solution. Importers with more complex entry profiles will need to take a more tailored approach to recovery.

Timing expectations and compliance considerations

CBP has indicated that processing of accepted claims may take up to 45 days, particularly where additional validation or compliance review is required. This reflects a broader reality. Both system rollout and refund execution are expected to follow staged timelines rather than immediate payouts.

That distinction matters. While CAPE is being built to facilitate refunds, it is also designed with stronger validation and review controls. Enforcement remains a priority alongside recovery.

In practice, that means claims need to be accurate, complete and well supported from the start. Data integrity within ACE filings will be closely reviewed, and even small inconsistencies can slow processing or delay payment.

Looking ahead: expanded capabilities, increased complexity

Future phases of CAPE are expected to expand beyond the initial scope and address more complex scenarios. These include entries with final liquidation, reconciliation and drawback claims, complex interest calculations and enhanced compliance and financial controls.

As these capabilities are introduced, access to refunds will broaden. At the same time, the technical and regulatory complexity of the process will increase, requiring more sophisticated coordination across trade, finance and compliance functions.

What this means for importers now

The declaration underscores a critical point. Refund recovery tied to IEEPA tariffs is no longer theoretical. It is operational, but not yet comprehensive.

Organizations should act now, focusing on a few key priorities:

• Identify eligible entries within the current processing scope.
• Validate ACE data and entry classifications.
• Complete electronic refund enrollment requirements.
• Develop a phased recovery strategy aligned to CAPE rollout.

At the same time, timing considerations remain critical. Not all entries will be addressed in the initial phase of CAPE, and certain refund opportunities may depend on actions taken outside of the system.

Importers should evaluate whether filing protests is necessary to preserve potential refund claims, particularly for entries approaching liquidation deadlines or those that may fall outside the initial scope of CAPE processing. Acting sooner rather than later can help preserve flexibility and avoid unintended loss of recovery opportunities as CBP guidance continues to evolve.

A strategic moment for trade leaders

The development of CAPE reflects a broader shift in how trade enforcement and revenue recovery are administered. It combines automation, large-scale data processing and evolving legal requirements into a single operational framework.

For importers, success will depend on more than awareness. It will require coordination across trade compliance, finance and legal teams, along with a clear understanding of where opportunities exist today and where they will emerge next.

As CBP guidance on tariffs continues to evolve alongside CAPE development, organizations that act early and prepare thoroughly will be best positioned to recover value efficiently and avoid unnecessary delays. Baker Tilly continues to monitor these developments and works with clients to translate evolving requirements into practical, actionable strategies.

Ready to evaluate your refund opportunity?

As the refund process moves from legal ruling to administrative execution, the challenge for importers is no longer just eligibility. It is execution. IEEPA tariff refunds will depend on complete and accurate data, defensible methodologies and the ability to navigate evolving CBP requirements. In practice, that means organizing years of entry data, validating duty payments and aligning documentation with how claims will be reviewed. Even where refunds are clearly owed, outcomes will be shaped by how well claims are prepared and submitted.

Baker Tilly’s tariff refund and recovery services are designed to help organizations move from eligibility to execution. This includes assessing refund exposure, identifying eligible entries and building claim packages that can stand up to CBP review.

That work often cuts across multiple functions. Entry-level data needs to be compiled and validated across systems; refund calculations must be consistent, supportable and documentation has to align with how CBP evaluates claims. At the same time, organizations must manage filings and timelines while also considering downstream tax and financial reporting impacts.

This level of coordination reflects a broader reality. Legal entitlement alone does not guarantee recovery. Execution, documentation and timing ultimately determine outcomes.

As CAPE continues to evolve and refund pathways expand, organizations that act early and prepare thoroughly will be better positioned to recover value efficiently and avoid unnecessary delays.

Connect with a Baker Tilly specialist to evaluate your tariff refund opportunity 

Originally published on PSEG ENERGIZE!

The New Jersey Chamber of Commerce (NJCC) advocates for businesses of all sizes, lobbying for the economic growth and job creation policies that enable Garden State ventures to flourish. One key segment supported by the NJCC is small businesses—the backbone of the American economy.

As a nonprofit organization, NJCC understands the challenging environment small businesses face, where every dollar counts and resources must be stretched as far as they can go. This need to extend resources led NJCC to participate in our Direct Install Program, one of the many offerings within our broader business energy efficiency portfolio.

Preserving a historic landmark while modernizing its systems

NJCC’s headquarters is no ordinary office: it’s a former residence built in 1875 and listed as a national historic site. But with this legacy comes complexity: multiple heating types (baseboard, radiant, ventilated), a mix of fluorescent and residential‑style fixtures, old and drafty windows and doors and a single heating zone that often made temperatures swing dramatically from one floor to another.

These constraints once made the notion of upgrading feel risky, as if any change might disrupt the building’s character or operations. Yet upgrades made through our energy efficiency program have proved the opposite – showing that careful, targeted improvements can respect history while solving modern comfort, safety and cost challenges.

When the opportunity arose to participate in our Direct Install Program, NJCC leadership saw it as a no‑brainer.

It seemed incomprehensible not to participate. Not only do you get an upfront financial benefit from not having to outlay hundreds of thousands of dollars in advance, but you deal with experts who know exactly how to make your unique space energy efficient.”

-Christine Lee, NJCC Facilities Manager

In addition, NJCC leadership liked the fact that every kilowatt saved could “give back” grid capacity, making the decision feel not just smart, but almost like a civic duty.

What changed: Boilers, lighting and peace of mind

The work began in the 8,400-square-foot building’s basement, where three aging boilers had reached the end of their useful life and were draining NJCC’s budget. Constant repairs, hard‑to‑find parts and inefficient appliances meant every winter brought about financial anxiety and discomfort from working in drafty, cold rooms.

NJCC’s old, outdated boilers were replaced with three, high efficiency boilers.

Following the improvements, NJCC now has three brand‑new, high‑efficiency boilers, which sit where the old ones once struggled. The program also included installation of a hot‑water pump and controls, and replacement of every lightbulb in the building with modern, low‑wattage bulbs that draw roughly a quarter of the energy the old bulbs used. Additionally, motion sensors were installed to control lighting in infrequently used spaces.

The practical impact of this work has been immediate: Christine shared that the upgrades immediately improved comfort and reliability throughout the building. While employees and visitors remark on how warm and inviting the space feels, and NJCC no longer has to pay contractors to climb ladders and swap burnt‑out bulbs throughout the property on a regular basis. And all of these upgrades occurred without any interruptions to operations. As noted by Christine, “They replaced each boiler without having to shut us down, which was remarkable.”

The total project cost was approximately $62,000, with PSE&G covering nearly 40% through program incentives. The remaining balance is being paid by NJCC through interest-free on-bill-repayment over five years. Once repayment is complete, the upgrades are expected to deliver more than $17,000 in annual energy savings, including electric and gas savings.

Comfort, savings and a better experience

The most noticeable change since the project started is comfort; staff are now fine‑tuning thermostats instead of begging for heat. That shift – from never quite warm enough to being able to dial back – is a clear signal that the new system is performing efficiently and reliably.

Operationally, NJCC has gained time and money back. Fewer emergency calls and interruptions for maintenance and lower ongoing lighting costs mean staff can stay focused on serving members, rather than troubleshooting facilities issues. Once the investment is paid off, NJCC plans to redirect savings into core priorities, such as lobbying and networking.

A surprisingly easy path – and a call to action

When NJCC began the project, they collaborated with a responsive team of experts who answered questions clearly, guided them through eligibility and documentation, and made the entire process feel straightforward and pleasant. “Interested businesses shouldn’t be intimidated by the process,” says Christine. “All the players made the process easy.”

For NJCC, making this energy efficiency investment was more than a facilities decision. It has become an ongoing commitment to improving operational efficiency and comfort. The organization encourages every eligible business to see energy efficiency as a powerful way to care for our communities, the bottom line, and the shared grid that keeps New Jersey open for business.

We offer a range of energy efficiency programs designed to meet the needs of businesses of all sizes. To learn more about available solutions, visit mybizenergy.pseg.com.