Measure Provides Some Relief for Contractors, But Lacks Other Steps Needed to Help Construction
On May 12, House Democrats released a more than $3 trillion, 1,815-page legislative proposal to further address the impacts of COVID-19 called H.R. 6800, the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act. Although the bill includes some measures that will help construction firms, it misses an opportunity to address some of the most significant challenges facing the industry. On the positive side, the bill includes needed flexibilities for the Paycheck Protection Program, an expansion of the employee retention tax credit, and authorization of composite retirement plans that can help sustain the viability of multiemployer pension plans. The bill, however, fails to include safe harbor language to protect firms from limitless litigation, expands the new emergency federal paid leave mandates, and repeals key tax provisions that will punish firms that suffered losses of $250,000 or more this year. AGC will continue to press for the construction industry’s priorities as this bill moves through the legislative process. Click here for the House Democrats 90-page summary of H.R. 6800.
Do you like this page?