Senate-Approved Aid Package Applauded by U.S. Architects
WASHINGTON, DC — The massive, $2-trillion government stimulus package aimed at mitigating the impact of the COVID-19 pandemic on the U.S. economy is being applauded by the nation’s architects – many of whom, like others in the residential design community, have been impacted significantly by the rapidly spreading coronavirus outbreak.
The American Institute of Architects (AIA) early today praised the sweeping, Senate-approved economic relief package, aimed at providing financial support to businesses and their employees. The House of Representatives is expected to approve the legislation, which allocates more than $350 billion in low- or zero-interest loans for approximately 30 million small businesses employing an estimated 58 million workers. Other provisions of the legislation include a massive expansion of unemployment insurance benefits, the availability of low- or zero-interest business loans, $1,200 checks sent to eligible Americans, and $150 billion for state and local stimulus funds. President Trump has said he will sign the legislation, whose programs should aid businesses throughout the residential design community, including those in the kitchen/bath sector.
“This is the most significant relief for businesses that the Senate has approved since the COVID-19 crisis began,” said 2020 AIA President Jane Frederick. “We’re pleased that all of these vital businesses are rightfully recognized as a priority. Architects will be a critical part of economic recovery, and AIA has forcefully advocated for infrastructure investment to stimulate recovery, as well as relief for businesses and employees.”
The AIA represents some 95,000 architects, many of whom are heavily involved in the residential sector, including the design of kitchens, bathrooms and other interior-living spaces.
According to the Washington, DC-based trade association, Senate approval of the latest relief legislation advances several AIA-supported measures, including the Paycheck Protection Program for small businesses and sole proprietors, low-interest business loans, and the Employee Retention Credit for all businesses.
“This relief package is a good start, and AIA continues to work with policymakers to ensure our members’ priorities are included in additional legislation as we continue to address this crisis,” Frederick said.