Paycheck Protection Program

The chief executive officer of the Associated General Contractors of America, Stephen E. Sandherr, issued the following statement in reaction to the passage of the Paycheck Protection Program Flexibility Act of 2020: "This new law improves upon the original Paycheck Protection Program by extending the coverage period to 24 weeks, revising the ratio of percentage of expenses allowed to be forgiven up to 60 percent payroll costs and 40 percent non-payroll, extending the maturity period for the loans from two years to five, and allowing loan recipients to defer payroll taxes through the end of 2020.

As our member companies respond to the COVID-19 pandemic, they've told us their priority is to ensure their workers' safety and health while also obtaining access to the resources available to them to keep production going. After all, equipment manufacturers and our 2.8 million men and women are an essential part of our nation's frontline response to COVID-19.

The chief executive officer of the Associated General Contractors of America, Stephen E. Sandherr, issued the following statement on May 28 in reaction to the passage in the House of Representatives of the Paycheck Protection Program Flexibility Act of 2020: "Members of the House appreciate that one of the best ways to protect the economy from further harm is to make needed improvements to the federal Paycheck Protection Program.

The chief executive officer of the Associated General Contractors of America, Stephen E. Sandherr, issued the following statement in reaction to the Treasury Department's announcement that it will extend the deadline for allowing firms to return their Paycheck Protection Program loans from May 7 to May 14: "The Treasury Department is right to extend its initial deadline for encouraging firms to return their Paycheck Protection Program loans, as we and other groups requested.