AIA applauds CARES Act heading to the White House
WASHINGTON – March 27, 2020 – The American Institute of Architects (AIA) applauds House passage of the COVID-19 relief package, which President Trump has said he will sign into law. The legislation was approved by the Senate on Wednesday night.
“Workers and employers need immediate relief, and we’re grateful that Congress acted swiftly to approve bipartisan legislation to aid businesses of all sizes,” said 2020 AIA President Jane Frederick, FAIA. “As the architecture industry does its part to help navigate this unprecedented crisis, we’ll continue to work with federal, state, and local policymakers to work toward economic stimulus and infrastructure investment policies that are critical to economic recovery.”
The $2 trillion plus emergency rescue package allocates more than $350 billion for businesses covering an estimated 58-million U.S. workers and more than 30-million small businesses.
Included in the legislation are a number of AIA-supported measures to help meet the needs of architects and their firms, including the Paycheck Protection Program for small businesses and sole proprietors, low interest loans to mid-sized businesses, and the Employee Retention Credit for all businesses. The package allows employers to defer payroll taxes during the crisis and provides direct payments to Americans under certain income thresholds. AIA also supports the package’s provisions to support students and those with student loan debt.
Last Friday, AIA sent a letter to House Speaker Nancy Pelosi and Senate Majority Leader Mitch McConnell calling on policymakers to address the critical needs of business owners and employees during the COVID-19 pandemic and outlining the infrastructure investment that is critical to stimulating America’s economic recovery. Both would provide much-needed relief in the short-term; reassure global markets; and help prepare the U.S. for challenges ahead.
In support of the legislation, AIA members issued more than 4,500 letters to members of Congress urging them to provide critical relief measures to business owners and the additional resources to those affected by the virus, including frontline responders.
This is the third stimulus package Congress has advanced to mitigate the economic impacts of the COVID-19 pandemic. Last week, AIA provided firms and architect members with guidance on how Congressional and administration policy activities would impact their practices.
Visit AIA’s website for COVID-19 resources for members.