AGC Scores Major PPP Victories in Year-End Legislation

AGC blocked a surprise federal tax increase of up to 37 percent on Paycheck Protection Program (PPP) loan forgiveness, benefiting tens of thousands of construction firms. The association was able to secure a provision in the year-end COVID-relief and government funding bill enacted Dec. 27, 2020 that overturned the IRS position barring deductions for PPP