ACEC Updates on PPP Loans / FAR Credits Clause Issue

Over the last two weeks weve been engaging our outside advocates and individual MO executives to build a battleplan moving forward to secure passage of ACECs legislation to waive the FAR credits clause and allow firms to keep their PPP loans. As you know, we came very close to success in 2021 (Note:Braun-Duckworth amendment), and while the last minute setback was disappointing, in looking back over the course of the year we also made great progress, including a hearing before the House Small Business Committee, language in the House-passed INVEST Act, growing bipartisan support in the House and Senate, and House passage of ACECs legislative fix as part of the National Defense Authorization Act. We seem to build momentum with every step we take, and that has been made possible by the continued engagement of our members and support from you.

Looking ahead to 2022, our efforts will focus on new vehicles for our legislative fix, with particular emphasis in the Senate. There is also an urgency in this campaign for early success in 2022, as we believe that most of our members will feel the impact of the FAR credits clause to their overhead rates next Spring. Our plan will focus on the following elements:

The FY22 spending package. Congress still needs to pass the spending bills that fund various federal agencies and programs action is expected by mid-February — and this legislation is likely the next available vehicle for ACECs PPP amendment. Right after January 1 st , we need to engage in a new grassroots effort which will target Senators on the Appropriations Committee (Note: Senator Mike Braun serves on Senate Appropriations.) That roster can be accessed here, and we will be sending you draft language to send to each of these offices to request a meeting to discuss our issue and request their support for a legislative fix.
Engaging Senator Rand Paul. As weve discussed previously, the primary obstacle remains the senior Republican on the Senate Small Business Committee Senator Rand Paul Hawaii car title loans and payday loans (R-KY). Were working with Russ Romine and his ACEC/KY members on new outreach to the Senator, including reiterating our request for a meeting to make our case for a waiver from the FAR credits clause.
Outreach to the Senate Small Business Committee. As part of our effort to engage Senator Paul, we also need to engage the Republican members on the Senate Small Business Committee to request their support for a fix. That roster can be accessed here. Similar to the Appropriations strategy noted above, we will be sending those of you who have Republican Senators on the Committee a sample request for meetings in January. (Note: Senator Todd Young serves on Senate Small Business Committee.)
Communications. The fourth pillar of the strategy will focus on communications to heighten attention to the issue and the need for a fix. This will include re-engaging with reporters we worked with over the past year, engaging through social media, the placement of op-eds in certain states and congressional districts around the country, and letters to the editor from impacted firms. We will be working with Jeff Urbanchuk and his team to develop sample materials that you can use, and coordinate with you on placement in key newspapers and other media platforms.

We will hit the ground running right after January first. As always, thank you for your help and continued engagement, and once again please accept our best wishes for a joyous holiday season!