The chief executive officer of the Associated General Contractors of America, Stephen E. Sandherr, issued a statement in reaction to the Coronavirus relief measure that passed the Senate this week.
Sandherr said the bill will provide construction employers and employees with “critically needed access to capital, expedited cash flow, worker benefit protection and critical tax relief, among other measures,” which will provide construction firms and their employees with a “needed lifeline to help them cope with a rapidly deteriorating business environment.”
However, Sandherr said the construction industry will need additional measures from Congress in the near-term to recover from the immediate economic impact of the outbreak. Specifically, Congress should provide financial compensation for losses incurred on federally funded projects because of COVID-19 related delays and cancellations.
Sandherr said Congress also needs to increase investments in infrastructure and pass needed multi-year funding measures for surface transportation and waterways, while also acting to protect the retirement and health plans of millions of construction workers who participate in multi-employer pension programs.