ACEC Action Alert on PPP loan forgiveness

12/2/20: Today ACEC national launched an Action Alert on two important fixes to the PPP loan forgiveness program: the tax deductibility of covered expenses and the expectation of a credit from government contractors and the resulting impact on firm overhead rates.

This is for firms with less than 500 employees total.

Click here to access the alert, including tools to help you craft an email.  

Once you log in to the system, you’ll be able to access a sample email to send to your US Representative and 2 US Senators based on where you live/vote.  Please do personalize the message if you can. This is especially important in this case, as every firm will have a specific financial impact that will be compelling. Otherwise, if you don't want to edit the message, you can send it as written.

Right now, there is no specific legislation to support or bill number to cosponsor.  The tax provision has been included in various economic relief packages, and we know there is strong bipartisan support in Congress to address it.  We also want to continue to educate lawmakers on the impact of the FAR credits clause and ask for a correction there as well, but right now there is no specific bill introduced.

Thanks for your continued engagement on this.  ACEC will send ACEC/MA updates as things develop in Washington, and please contact us if you have questions.