Items Tagged with 'Paycheck Protection Program'

As 2020 drew to a close, the U.S. Congress passed the Consolidated Appropriations Act, 2021, a massive $900 million coronavirus relief bill combined with a $1.4 trillion omnibus spending bill.

As part of a holistic effort to maximize support to members during the coronavirus pandemic, AD co-hosted a webinar with lawyers from the global law firm Dentons that examined recent changes to the SBA’s Paycheck Protection Program. 

The chief executive officer of the Associated General Contractors of America, Stephen E. Sandherr, issued a statement in reaction to the passage of the Paycheck Protection Program Flexibility Act of 2020.

Members of the House appreciate that one of the best ways to protect the economy from further harm is to make needed improvements to the federal Paycheck Protection Program.

Numerous impediments to completing construction projects led to declines in most categories of private construction spending in March, according to an analysis by the Associated General Contractors of America of government data released today.

A large share of construction firms promptly received loan funds under the new Paycheck Protection Program, enabling many of them to hire or retain employees despite a surge in project cancellations, according to a survey released today by the Associated General Contractors of America

The new loan funding will help thousands of construction firms to retain essential construction jobs amid rapidly declining demand for construction services. As one of the relatively few sectors of the economy still operating, construction firms still have significant payrolls in need of protection.

As the impact of COVID-19 continues throughout the construction industry, many businesses are finding it difficult to make payroll and pay other essential business expenses.