On April 2, the Small Business Administration (SBA) issued an “interim final rule” to the effect that business must have 500 or fewer employees and fall below the SBA’s small business size standards in order to qualify for the Paycheck Protection Program. Congress, however, declared that the program shall be open to all business that have 500 or fewer employees or fall below those standards. Over the weekend, AGC of America alerted the Trump Administration to the problem, and late last night the U.S. Department of Treasury released new guidance about the Paycheck Protection Program loans that includes the following:

Construction Officials Urge Agency to Make Clear that Firms that Employ 500 or Fewer People to Qualify for Paycheck Protection Program Loans, Regardless of Revenue

Association Survey Conducted This Week Suggests Industry’s Job Losses are Spreading Rapidly; Officials Call for Additional Federal Measures to Help Avoid Further Layoffs and Economic Pain

Treasury Issues Tax Credit FAQs

Survey Finds Contractors Face Shortages of Materials and Workers, Delivery Delays and Cancellations; Association Officials Urge Additional Measures to Help Workers, Firms and the Economy to Recover

The comment period closed March 10 on the Council on Environmental Quality’s (CEQ) proposed updates to the implementing rules for the National Environmental Policy Act (NEPA). AGC filed a comprehensive letter on behalf of the construction industry in support of the proposal to promote more efficient, effective, and timely federal environmental reviews and permitting of infrastructure projects. AGC seeks to increase investment and project development in a manner that strengthens our economy and enhances environmental stewardship. To this end, AGC also supported the U.S. Chamber-led “Unlock American Investment” coalition’s extensive outreach, education and advocacy efforts – click here for coalition letter.

States may take a different approach

Join us on April 7 at 2pm-3pm Eastern Time