New Trump administration guidelines that tighten eligibility, retroactively, for the much-in-demand Paycheck Protection Program loans have sparked significant worries among member companies of a major construction contractor group. A leading engineering organization also has concerns about the PPP changes.
Associated General Contractors of America Chief Executive Officer Stephen E. Sandherr told Treasury Secretary Steven Mnuchin in an April 29 letter that new Treasury and Small Business Administration guidance, issued April 28, has caused "severe and urgent" concerns among AGC members. He urged Mnuchin to issue revised guidelines quickly.