NRMCA Urges Congress to Reform Paycheck Protection Program

On Tuesday, NRMCA urged Congress to adopt reforms to the Paycheck Protection Program (PPP) in the upcoming COVID-19 relief package. While the Small Business Administration loan programs like the PPP played a critical role in providing liquidity to America’s small businesses and ready mixed concrete producers, NRMCA asked Congress to make three key reforms:

• First, NRMCA expresses support for the simplified forgiveness application process for loans under $2 million while urging Congress to ensure that no ready mixed concrete operator that received a PPP loan of any amount and used it for the purpose intended would be penalized;
• Second, NRMCA urges Congress to ensure that tax deductible expenses continue to be treated as tax deductible when covered with PPP funds; and
• Finally, NRMCA continues to advocate for 501(c)6 organizations to be eligible for PPP loans. These non-profit membership organizations include state and national organizations that provide critical support to America’s small business community and should be eligible for PPP loans.

You can read NRMCA’s letter here. NRMCA previously helped author a letter from the Highway Materials Group on PPP reform, and NRMCA, NSSGA and PCA stressed these reforms in their letter to Congress on future relief packages. In addition, NRMCA has joined the Main Street Coalition in advocating for fixes to the tax deductibility issues, as well as supporting less restrictive criteria for PPP second draws.

For more information, contact Andrew Tyrrell at atyrrell@nrmca.org.