U.S. Senate Passes $2 Trillion Economic Aid Bill

On March 25, the Senate passed the largest economic aid package in our nation’s history. On a 96-0 vote, the $2 trillion bill—the Coronavirus Aid, Relief, and Economic Security (CARES) Act­­—passed the Senate and is soon expected to be approved by the House and signed into law­­. This legislation will provide the industry with a much-needed lifeline that will help firms and workers over the coming days and weeks. But the industry will not be able to truly recover until federal officials pass measures designed to stimulate new demand for construction, make contractors whole for losses incurred because of the coronavirus and protect employee retirement and health plans. Which is why AGC is pushing Congress for additional recovery measures beyond what is included in the bill.  We continue to comb through the Senate bill to determine its full impact on the industry. Click here to listen (and actually watch too) a brief podcast describing the details of the bill.  You can also read AGC’s letter to Congress about the bill here and AGC media statement (see statement here) in response.

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