Paycheck Protection Program

Latest Updates

Construction Trade Group Sues To Block Fed’s Unlawful Effort To Change Paycheck Protection Program (PPP) Rules
December 8, 2020
Small Business Administration and Office of Management and Budget Secretly Crafted Questionnaire that Asks about Everything Other Than the Economic Uncertainty that Congress Intended to Drive Program The Associated General Contractors of America filed suit today to compel Small Business… Read More
Stop a Surprise Federal Tax of up to 37% on PPP Loans
December 3, 2020
Tell the President & Congress NOW CLICK HERE(link is external) to tell President Trump and Congress to enact legislation this year to protect construction jobs by blocking a surprise federal tax increase of up to 37 percent on Paycheck Protection Program (PPP) loan forgiveness. If… Read More
AGC Leads Coalition Calling on Congress to Fix PPP Tax Issues
December 3, 2020
On December 3, AGC, along with 564 trade associations, called on Congress to pass legislation reversing IRS policy that turns promised, tax-free PPP loan forgiveness into a taxable event. The effect of this is to tax a business’s PPP loan forgiveness up to 37 percent. AGC is very engaged… Read More
WebEd: Asking for Forgiveness? Navigating the Ever-Changing PPP Loan process for Contractors
December 1, 2020
December 10, 2020 - 12:30pm to 1:30pm Member Price:  $0  Non-Member Price:  $49   Description: As contractors applied for loan forgiveness, many questions and uncertainties still remain. Please join Marcum LLP as they provide updates to help… Read More
SBA PPP Loan Necessity Questionnaire Receives Approval
November 19, 2020
Applies to PPP loans of $2 Million or More Since the last report, AGC has learned that the Small Business Administration (SBA) Paycheck Protection program (PPP) loan necessity questionnaire is approved and SBA-mandated for borrowers with PPP loans for $2 million or more. As such, applicable… Read More
IRS Clamps Down Further on PPP Deductibility
November 19, 2020
AGC Will Continue to Fight for Deductibility In the latest setback in the administration of the Paycheck Protection Program (PPP), the Internal Revenue Service (IRS) announced on November 18, via Revenue Ruling 2020-27, that expenses funded through a Paycheck Protection Program (PPP) loan are… Read More
SBA Developing PPP Loan Necessity Questionnaire
November 12, 2020
What You Need to Know & What AGC is Doing As previously reported, the U.S. Small Business Administration (SBA) is planning to require all recipients of loans of $2 million or more to complete a questionnaire to demonstrate the need for their loan. This form, based on versions leaked to… Read More
AGC Helps Lead Coalition on "Second Draw" PPP Loans
August 6, 2020
This week, AGC helped lead a coalition effort with the International Franchise Association (IFA) calling on Congress to expand the availability of “second draw” Paycheck Protection Program (PPP) loans for small businesses. A provision in the Senate GOP COVID relief proposal would allow small… Read More
Congress Extends Paycheck Protection Program Loan Application Deadline
July 2, 2020
On June 29, the Senate passed legislation by unanimous consent to extend the deadline for Paycheck Protection Program (PPP) loan applications by five weeks, to August 8th. On June 30, the House agreed to the Senate bill, also by unanimous consent, and President Trump is expected to sign the… Read More
Paycheck Protection Program Fixes Implemented by SBA/Treasury
June 16, 2020
Last week, the SBA and Treasury announced how they would implement the recent changes AGC pressed for in the Paycheck Protection Program Flexibility Act (PPPFA), among other things. By the end of the week, the agencies released a new interim final rule (IFR) to implement the… Read More
AGC Victorious in Leading Congressional Passage of PPP Loan Improvements; Association Continues to Fight for Additional Tweaks
June 4, 2020
On June 3, the Senate passed the AGC-backed Paycheck Protection Program (PPP) Flexibility Act of 2020 (H.R. 7010) after AGC members sent tens of thousands of messages seeking improvements to the PPP. The measure makes significant improvements to the Paycheck Protection Program that AGC has been… Read More
Clone of House Passes AGC-Backed PPP Loan Improvements; Includes Significant Flexibilities for the Construction Industry
May 28, 2020
On May 28, House of Representatives overwhelmingly passed the AGC-backed Paycheck Protection Program Flexibility Act (H.R. 7010), which would make substantial improvements to the Paycheck Protection loan Program (PPP). Since the program was created in the CARES Act, many construction firms have… Read More
House Passes AGC-Backed PPP Loan Improvements; Includes Significant Flexibilities for the Construction Industry
May 28, 2020
On May 28, House of Representatives overwhelmingly passed the AGC-backed Paycheck Protection Program Flexibility Act (H.R. 7010), which would make substantial improvements to the Paycheck Protection loan Program (PPP). Since the program was created in the CARES Act, many construction firms have… Read More
PPP Loan Forgiveness Application Released, Final Rules on Loan Forgiveness Still Outstanding
May 21, 2020
On May 15, the U.S. Small Business Administration (SBA) and Department of the Treasury released the Paycheck Protection Program loan forgiveness application late. The application includes step-by-step instructions on how to perform the mechanical calculations required by the CARES Act to confirm… Read More
Congress & SBA Work on AGC-Backed PPP Loan Fixes, Imminent Votes in House and Senate on Fixes
May 21, 2020
AGC continues to lead efforts—both legislative and regulatory—to bring needed flexibilities to the terms of the Paycheck Protection Program for the construction industry. In the House of Representatives, AGC is working with Reps. Dean Phillips (D-Minn.) and Chip Roy (R-Tex.) to advance their… Read More
AGC Efforts Help Spur New PPP Loan Safe Harbors, Treasury/SBA Issue New Guidance
May 14, 2020
On May 13, at the sustained urging of AGC, the U.S. Department of the Treasury and U.S. Small Business Administration issued guidance to address their threats of auditing PPP loan borrowers for a failure to show good faith need for their loans. The new guidance provides a critical safe harbor… Read More
AGC Leads Effort to Address IRS Guidance Undermining PPP Loan Impact; Organizes 152 Trade Associations in the Effort Under its Lead
May 7, 2020
On May 7, AGC organized 152 trade associations in calling for Congress to nullify recent Internal Revenue Service (IRS) guidance essentially making business expenses—which are usually deductible—paid by forgiven Paycheck Protection Program (PPP) loan funds fully taxable. The impact of this IRS… Read More
AGC Member visits White House to discuss PPP Loan Program
April 30, 2020
On April 28, AGC helped facilitate a meeting with President Trump for AGC member Ali Mills from Plum Contracting, a member through the Constructors Association of Western Pennsylvania Chapter. During that visit, Ali got to tell her story about how the Paycheck Protection Program loans helped her… Read More
AGC Calls for Clarity of PPP Guidance
April 30, 2020
On April 29, AGC called on the Secretary of the Treasury to provide more clarity regarding its recent guidance warning firms of future audits and potential legal risks for companies that apply for loans. AGC is having discussions with key Administration officials on the impacts this guidance has… Read More
Senate Passes, House Takes Up New Coronavirus Relief Package; Billions in new SBA PPP Program Funding Included
April 23, 2020
On April 21, the Senate passed a $480 billion coronavirus relief package that included $310 billion in new funding for the U.S. Small Business Administration’s (SBA) Paycheck Protection Program (PPP) loans. The House of Representatives is expected to pass this measure overwhelmingly when they meet… Read More
SBA & Treasury Issue Important New PPP Loan Guidance; Puts Borrowers on Notice of “Good Faith” Need for PPP Loans
April 23, 2020
New guidance from the U.S. Small Business Administration (SBA) and Department of the Treasury puts Paycheck Protection Program (PPP) borrowers and potential borrowers on notice that they should be able to prove in “good faith” that “[c]urrent economic uncertainty makes this loan request necessary… Read More
Additional $310 Billion In Funding For Paycheck Protection Program Loans Will Help Support Thousands Of Essential Construction Jobs
April 22, 2020
Construction Officials Urge Congress to Quickly Pass New Coronavirus Relief Measure and Start Work on Broader Recovery Measures, Including New Infrastructure Funding and Pension Relief   The chief executive officer of the Associated General Contractors of America, Stephen E. Sandherr, issued… Read More
New Trump Administration Guidance Now Allows Firms With 500 Or Fewer Employees To Qualify For Paycheck Protection Program Loans
April 7, 2020
Associated General Contractors of America Secures Fix to Loan Qualifications After Alerting Administration Officials to Small Business Administration Language that Excluded Many Firms The Associated General Contractors of America today announced that the Trump administration released new guidance… Read More
AGC Releases Analysis of SBA Paycheck Protection Program
April 2, 2020
AGC has prepared a new analysis of the U.S. Small Business Administration’s Paycheck Protection Program, a new loan program enacted in the most-recent coronavirus relief measure under which construction businesses with 500 or fewer employees may be eligible. Click here for the full analysis.

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