BIPARTISAN PASSAGE OF ADDITIONAL COVID-19 RELIEF PROMISING, BUT MORE SUPPORT NEEDED
Association of Equipment Manufacturers (AEM) president Dennis Slater issued the following statement regarding ongoing efforts by the U.S Congress to deliver additional aid to small businesses, including more funding for the Small Business Administration’s (SBA) Paycheck Protection Program (PPP):
“This week’s bipartisan votes by the U.S. House and the U.S. Senate to provide additional relief for small businesses are certainly encouraging, but Congress must continue to find ways to support working families and businesses of all sizes in the weeks and months to come,” said Dennis Slater, president of AEM. “While the Paycheck Protection Program is helpful for many small equipment manufacturers, there is a lot more Congress needs to do to support the 2.8 million men and women of our industry. Too many equipment manufacturers are still struggling to stay open and on the job. With the PPP replenished, Congress must now turn their attention to a large number of manufacturers who do not qualify for this program but still desperately need support. We encourage Congress to continue to work in a bipartisan fashion to provide equipment manufacturers with the support and resources they need to stay in business and be part of the recovery effort we need to turn the economy around.”
AEM sent a letter on Monday urging U.S. Senate and House leadership to reach a bipartisan deal ahead of tomorrow’s expected vote. AEM also activated its 40,000 I Make America grassroots supporters this week to ask Congress to take immediate, bipartisan action to boost funding for the PPP. 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.