ACEC Letter to Congress about PPP
I wanted to share with you the letter ACEC National sent to Capitol Hill in support of additional funding for the Paycheck Protection Program (PPP) loans. It can be accessed here. As you may know, the original funding allocation of $349 billion under the CARES Act is close to being fully utilized, and ACEC and other business community stakeholders are ramping up outreach to Congress to move legislation quickly to recapitalize the loan fund. The letter also notes support for additional emergency funding for State DOTs, which are facing a steep decline in gas tax revenue resulting from the COVID-19 response effort.
I also wanted to alert you to new information links released by the White House last night, including new updated guidance for PPP loans, which can be accessed here. The Department of Treasury has also updated their CARES Act website to include specific sections on:
- Assistance for American Workers and Families
- Assistance for Small Businesses
- Assistance to State and Local Governments
- Preserving Jobs for American Industry