I hope you’re having a good week. I only have a few quick items for you today.
The Treasury and the Small Business Administration have provided additional clarifying information about Paycheck Protection Program loans. This week, they released an interim final rule on loan forgiveness with the intent to clarify requirements to have those loans forgiven in full or in part. They also released a separate interim final rule on loan review procedures and borrower and lender responsibilities.
These rules are intended to assist borrowers in filling out a loan forgiveness application, as well as any new borrowers in fully understanding the terms and obligations of their desired loan. Information on all aspects of this program and other relief measures remains available on our COVID-19 resource page.
There is increasing pressure on Congress for another round of relief. I’ve said previously and reaffirm here, infrastructure legislation is likely to be a key component of a sweeping economic revitalization plan. If you manufacture products or raw materials for infrastructure markets, please take a few moments to fill out our advocacy survey if you haven’t yet. ACMA is working aggressively right now to finalize our legislative strategy for the summer and we need input from you. If you have ideas on other issues that need Congressional attention, never hesitate to reach out to me.
We’ll get a candid read on Congressional priorities at our Town Hall with Rep. Haley Stevens on Friday. She is truly one of our greatest champions and will give us insights you need to hear. Registration information is below – please join us!
Director, Government Affairs
Latest ACMA Resources:
ACMA Town Hall with Congresswoman Haley Stevens (D-MI-11)
Friday, May 29 at 11 am EDT
Representing the suburban Detroit area, Congresswoman Haley Stevens (D-MI-11) is a rising star in the Democratic Party and one of the strongest national voices for the composites industry. As chair of the Research and Technology Subcommittee, she has direct jurisdiction over critical composites research at NIST, NASA, NSF and other agencies. Her signature legislation, the American Manufacturing Leadership Act which was signed into law in December, strengthened America’s manufacturing economy and created a pathway for permanent funding for IACMI and other critical manufacturing research institutions. She is also a lead sponsor of two ACMA legislative priorities, the Aeronautics Innovation Act and the Vehicle Innovation Act.
In this town hall with ACMA members, she will provide an update on the Congressional response to the COVID-19 crisis and plans by leaders on Capitol Hill to jumpstart the manufacturing economy, as well as insights on the Congressional agenda for the rest of 2020.
Latest Industry Resources:
- SBA/Treasury PPP Loan Forgiveness Rule
- SBA PPP Loan Review Rule
- PPP Loan Forgiveness Application
- OSHA/CDC Guidance for Manufacturing Workers and Employers
Keep up to date by watching ACMA’s resource page here.