What construction-related items were in the COVID package?
You likely saw that, on Dec. 27, the President signed the COVID-relief and federal-government funding package. AGC of America’s government-relations team worked day and night for months fighting to ensure the best possible outcome for the construction industry. Although not everything that AGC fought for made it into the package, there are many significant construction-industry priorities that AGC secured, including:
· Blocking a surprise federal tax increase of up to 37 percent on Paycheck Protection Program (PPP) loan forgiveness by overturning the IRS position barring deductions for PPP loan-forgiven business expenses… Read more.
· Securing $46 billion for the federal-aid highway and transit programs to help ensure that ongoing and planned highway and transit construction projects move forward through at least Sept. 30, 2021;
· Ensuring that some of the $82 billion for public and private K-12 schools and higher education in COVID-relief is eligible for construction/renovation projects related to pandemic needs.
Click here to see the long list of construction-related items that were included in the legislation.