NAHB Chairman Issues Statement on Congress’ Additional Stimulus Funding

April 22nd, 2020 by Editor

On the heels of the news that the U.S. Senate approved additional funding for small businesses, Dean Mon, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Shrewsbury, N.J., issued a statement of approval of the action.

“The additional $380 billion in new small-business funding approved by the Senate is a welcome development for the thousands of home building firms that desperately need this important government program. Many of these companies are stuck in limbo waiting for this additional funding. As Congress develops the next economic package, it needs to take additional steps to ensure broader builder eligibility under the Paycheck Protection Program (PPP),” he said. “Home building remains an essential business throughout most of the nation and ensuring land developers, multifamily property owners and the trade associations that serve the industry have access to this program must be a priority. Providing sufficient access to the PPP will allow builders to keep their doors open, keep their employees on the job and continue to provide housing opportunities for all Americans during this challenging time.”

The announcement of the additional money comes three weeks after Congress passed a $2 trillion stimulus package, which included $377 billion for companies with 500 employees or less.

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