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.
Tax
January 7, 2021
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:
December 18, 2019
On Dec. 19, the Senate passed many non-funding AGC-backed measures as part of the agreement reached to fund the federal government through the remainder of fiscal year (FY) 2020. This measure is expected to become law, pending the President’s signature. This legislation extends authorization for the Terrorism Risk Insurance Program (TRIA) for seven years, as well as the National Flood Insurance Program for one year.
December 12, 2019
For the eleventh year in a row, AGC of America has been named as one of the nation’s top lobbying operations by Capitol Hill newspaper The Hill. The publication’s annual ranking of top lobbyists lists AGC CEO Steve Sandherr as a top lobbyist.
November 21, 2019
On Nov. 19, the House passed AGC-backed legislation to reauthorize the Terrorism Risk Insurance Act (TRIA) for seven years. With private insurers pulling out of the marketplace after the Sept. 11, 2001 attacks, the inability of insurance policyholders to secure terrorism risk insurance contributed to a paralysis in the economy, especially in the construction and real estate finance sectors.
November 7, 2019
This week, AGC joined a group of 59 trade groups to call on Congressional leaders to pass legislation extending a number of tax provisions that have either recently expired or are set to expire at the end of the year (commonly called the “tax extenders”). The letter calls for extending these provisions through at least 2020.
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