AEM URGES FOR BIPARTISAN ACTION TO BOOST PPP FUNDING
Washington, D.C. - Association of Equipment Manufacturers (AEM) President Dennis Slater issued the following statement ahead of continued negotiations by Congress to expand coronavirus relief, which must include securing additional funding to the Small Business Administration’s (SBA) Paycheck Protection Program (PPP):
“Too many small and mid-sized equipment manufacturers are short on both time and money. For the 2.8 million men and women of the equipment manufacturing industry and their families, Congress needs to replenish funds for the Paycheck Protection Program immediately,” said Dennis Slater, president of AEM. “We have an essential role in fighting the COVID-19 pandemic by building the equipment our nation needs to move, feed, and keep the lights on for all Americans. That’s why we’re calling on Congress to quickly act on a bipartisan basis to make sure equipment manufacturers have the resources they need to keep production going and support their employees.”
A letter sent by AEM president Dennis Slater today further urges U.S. Senate and House leadership to reach a bipartisan deal ahead of tomorrow’s expected vote. The letter states “AEM is thankful for the work Congress has already done to mitigate the harm of the pandemic on businesses and American families. Unfortunately, due to the impact of this pandemic, it is clear that further assistance will be needed to help the economy on the path to recovery. I hope that Congress will continue to keep the needs of equipment manufacturers at the forefront as discussions progress and I look forward to serving as a resource to you as our country moves forward in these unprecedented times.”
Over 40,000 I Make America grassroots supporters were also asked to act by contacting members of Congress to support legislation to add more funding to the PPP. I Make America is AEM’s national grassroots campaign advocating for policies that support America’s equipment manufacturers. AEM has worked to provide its members with resources and information about COVID-19 related relief available to them. This includes monetary relief provided by the CARES Act, which included funding for the Paycheck Protection Program.
AEM is the North American-based international trade group representing off-road equipment manufacturers and suppliers, with more than 1,000 companies and more than 200 product lines in the agriculture and construction-related industry sectors worldwide. The equipment manufacturing industry in the United States supports 2.8 million jobs and contributes roughly $288 billion to the economy every year.