Tax

April 5, 2021

We are proud to report that we have had a strong year in 2020 as the contents of our Annual Report - The Power of Engagement - make clear. The digital report catalogues the many accomplishments of AGC of America. In our catalogue of some of the association’s most significant accomplishments, you will see how we work to support the entire construction industry as The Construction Association.

April 1, 2021

The infrastructure investment included in the Biden Infrastructure Plan would be funded through a variety of broad tax increases, primarily aimed at multinational corporations, but that would also impact domestic C-corporations, including some construction firms. Increased taxes on pass-through businesses, individual tax rates, estate taxes, capital gains taxes, and payroll taxes, are expected in the next “human infrastructure” package to be released in the near future. The primary funding mechanism would be to increase the corporate tax rate from the current 21% rate to 28%.

March 25, 2021

On March 25, the Senate is expected to pass the AGC-supported Paycheck Protection Program (PPP) Extension Act that would extend the deadline for taking out a PPP loan through June 30, 2021. Importantly, while the legislation extends the deadline for loan approval through June 30, borrowers’ applications must be submitted to their lenders by May 31. The House previously passed the bill, and President Biden is expected to sign it if and when it reaches his desk. Without congressional action, the program’s authorization will expire on March 31, 2021.

March 25, 2021

AGC Enters into Negotiations with SBA; Hoping for Settlement of PPP Lawsuit
AGC Member Wins Forgiveness of PPP Loan Over $2 Million

March 18, 2021

AGC Concerned About Impact on PPP Loan Forgiveness State Tax Treatment & More

January 7, 2021

Public and private building markets, many of which are reeling from pandemic impacts, will find some respite through AGC’s success in landing significant development tax policies in the year-end COVID-relief and government funding bill enacted on December 27, 2020.

June 18, 2020

On June 17, the U.S. Small Business Administration and the Department of the Treasury released a revised Paycheck Protection Program (PPP) loan forgiveness application, implementing the fixes from the AGC-backed Paycheck Protection Program Flexibility Act enacted June 5.

March 26, 2020

On March 25, the Senate passed, 96-0, H.R. 748, the Coronavirus Aid, Relief, and Economic Security (CARES) Act. It is expected to be taken up by the House of Representatives soon. The CARES Act, a $2 trillion economic relief package, is the third in a series of coronavirus related measures Congress has taken up in recent weeks to address the pandemic sweeping the country.

March 19, 2020

On March 18, AGC joined a host of other business groups in calling on Congress to enact a number of tax-related measures to safeguard companies, regardless of size, during the COVID-19 outbreak.

March 17, 2020

Construction Firms Are Already Taking Steps to Protect Employees, Most of Whom Already Wear Protective Equipment, While Halting Work Will Undermine Efforts to Add Hospital Capacity

The chief executive officer of the Associated General Contractors of America, Stephen E. Sandherr, issued the following statement in reaction to steps being taken to put in place arbitrary halts to construction activity in certain parts of the country:

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