Engineering Association Calls on Congress to Re-Fund the Paycheck Protection Program
WASHINGTON, DC – The American Council of Engineering Companies (ACEC) – the business association of the nation’s engineering industry – sent a letter to House and Senate leaders strongly urging Congress to act on legislation to provide additional funding to recapitalize the Paycheck Protection Program (PPP).
“The PPP program is working to help many of the nation’s engineering firms mitigate cash-flow problems and keep working on essential infrastructure projects, but we are very concerned that the program could be a victim of its own success,” said ACEC President and CEO Linda Bauer Darr. “More money must be injected into the program to maintain its capacity so America’s businesses can get the funds they need during this unprecedented crisis.”
In a recent ACEC survey, 72 percent of responding engineering firms indicated they have applied for funds from the PPP, with 14 percent planning on applying.
ACEC also expressed the engineering industry’s support for an infusion of $50 billion in federal-aid highway program funding to help State departments of transportation keep essential operations and projects moving forward.
Darr noted in the Council’s letter that “…Investments in infrastructure will play a critical role in a long-term recovery strategy, but short-term help is also needed to offset a significant drop in State DOT revenues that threaten current programs and projects.”
Read the full text of the letter