Associated Builders and Contractors Vice President of Legislative and Political Affairs Kristen Swearingen issued the following statement about the signing of the Coronavirus Aid, Relief and Economic Security Act, which provides $2 trillion in federal funding and programs to address the ongoing coronavirus crisis:
ABC and our members appreciate the urgency of this ongoing health crisis and applaud the hard work and swift action of President Trump, White House officials and members of the House and Senate to protect the health and economic security of our nation. The CARES Act provides a critical lifeline for our nation’s construction companies as they work hard to maintain their businesses, keep employees on payroll and provide paid leave and essential health benefits to those affected by the coronavirus.
As the majority of the U.S. construction sector is made up of small businesses, the nearly $350 billion for small business loans will help ensure that many of our construction businesses are able to weather this storm. The critical tax provisions also included in the bill will further assist businesses in mitigating the challenges construction faces during this national emergency. As we continue to work through this crisis and head towards eventual recovery, ABC is dedicated to continuing to work with our lawmakers to ensure a strong economy and safe and healthy workplaces for the construction industry.