New Coronavirus Recovery Measure Will Provide Some Needed Relief for Contractors
Measure’s Modest Amount of Funding for Infrastructure Projects and Clarification that PPP Loans May Not be Taxed Will Help Offset Some of the Challenges Facing the Construction Industry
“The new coronavirus recovery measure should provide some needed relief for a construction industry that is coping with project cancellations and job losses in most parts of the country. Most notably, the measure includes $10 billion in needed funding to help address the pandemic-induced shortfalls in state transportation revenues. This new funding should keep a number of road projects from getting canceled or delayed over the coming months. The measure also includes new funding for waterways, ports and other maritime facilities.