The Association of Equipment Manufacturers says additional aid authorized by Congress last week is encouraging, but lawmakers need to do more.
Late last week, Congress passed new legislation to provide $484 billion in additional relief for Americans enduring hardships due to the COVID-19 pandemic.
This includes $310 billion for the Small Business Administration’s Paycheck Protection Program, which AEM says many equipment manufacturers are relying on to keep their operations going.
However, AEM President Dennis Slater says,” too many equipment manufacturers are still struggling to stay open and on the job.”
The Paycheck Protection Program is helpful for many small equipment manufacturers.
Still, Slater says Congress must now turn their attention to a large number of manufacturers who do not qualify for this program but still desperately need support.
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.