THANK YOU! On December 21, Congress passed a $2.3 trillion year-end legislative package that included a number of significant victories for the construction industry thanks to AGC of America and members like you. Since March, the AGC of America government relations team has worked day and night on Capitol Hill to help protect your construction markets, firms and workforce from the impacts of the global pandemic. Thanks to AGC members, like yourself, who answered AGC’s calls to action and sent hundreds of thousands of messages to members of Congress and the president, we were able to: Block a surprise federal tax increase of up to 37 percent on Paycheck Protection Program (PPP) loan forgiveness by overturning the IRS position barring deductions for expenses paid with PPP loan funds; Secure $56 billion for state departments of transportation—$10 billion for pandemic-relief in addition to the $46 billion through the one-year FAST-Act extension through September 2021—to help prevent construction project letting delays and cancelations; and Improve the building construction environment by: Extending for five years the New Markets Tax Credit that will provide $25 billion in tax incentives for community buildings development; and Expanding the Low-Income Housing Tax Credit so it will generate the construction of more than 555,000 units of multifamily housing over ten years in addition to the 3.2 million financed through it since 1986; and Making permanent the 179D Commercial Buildings Energy Efficiency Tax Deduction that encourages private owners to build or remodel with increase building energy efficiency. Image Your company has the power to help AGC secure additional legislative victories for the industry by supporting the Construction Advocacy Fund. AGC uses the Fund to directly advocate for congressional legislation ensuring that construction remains essential, securing liability reform that protects responsible firms from needless COVID-related lawsuits, enacting legislation to expand the pipeline for the construction workforce, increasing infrastructure investment, and rolling back needless regulatory burdens.
