On March 25, the Senate is expected to pass the ÎÚÑ»´«Ã½-supported Paycheck Protection Program (PPP) Extension Act that would extend the deadline for taking out a PPP loan through June 30, 2021. Importantly, while the legislation extends the deadline for loan approval through June 30, borrowers’ applications must be submitted to their lenders by May 31. The House previously passed the bill, and President Biden is expected to sign it if and when it reaches his desk. Without congressional action, the program’s authorization will expire on March 31, 2021. The extension will give construction firms more time to apply for PPP loans, as many firms see waning backlogs.
ÎÚÑ»´«Ã½ Enters into Negotiations with SBA; Hoping for Settlement of PPP LawsuitÎÚÑ»´«Ã½ Member Wins Forgiveness of PPP Loan Over $2 Million
On March 22, the United States Senate confirmed the nomination of Boston Mayor Marty Walsh to become the next Secretary of the U.S. Department of Labor by a bipartisan final vote of 68-29.
On March 18, the U.S. House of Representatives passed the ÎÚÑ»´«Ã½-supported American Dream and Promise Act of 2021 (H.R. 6). This measure seeks to take a first step in reforming our nation’s immigration system by protecting the legal status of work authorized-Deferred Action for Childhood Arrivals (DACA) and Temporary Protected Status (TPS) holders. Despite today’s outcome, the bill faces an uphill fate in the Senate without a significant breakthrough. There are more than 100,000 construction workers estimated with DACA or TPS status who currently face an uncertain legal future.
ÎÚÑ»´«Ã½ Concerned About Impact on PPP Loan Forgiveness State Tax Treatment & More
PRO ACT—The Greatest Threat to Union & Open Shop Construction
Texas, Louisiana Have Worst Job Losses Since Pandemic Struck, While Idaho Adds the Most Jobs; California, South Carolina Have Worst One-Month Job Losses as Florida, Vermont Top Other States
New Producer Price Index Data Confirms Association Survey Showing Most Construction Firms are Being Harmed by Skyrocketing Costs for Products Like Lumber while Shipping Problems Impact Project Schedules
In January, President Biden signed executive orders specifically charging federal agencies to focus on environmental regulations, climate change, and environmental justice. In the intervening weeks, the agencies have begun implementing those directives. We are seeing incremental steps taken as the nominees to head these agencies move through the confirmation process. The Senate just confirmed Michael Regan’s appointment to head the U.S. Environmental Protection Agency and hearings for other nominees have recently happened or are being scheduled. Agency activity is expected to increase as more appointed officials take the lead.