The AIA has made freeing up credit for design and construction its top advocacy priority in Washington – and I am pleased to say that Congress is starting to listen. This week, Reps. Ed Perlmutter (D-CO), Mike Coffman (R-CO) and Scott Tipton (R-CO) introduced the Credit Access for Main Street Act (HR 1356). This bipartisan bill would enable small community banks to spreads out their commercial real estate loans over a longer period, which would give them more capital to invest in loans. That will help them provide more financing and create jobs.
Although this bill is not a silver bullet by any means, it is a critical component of the AIA’s Plan for Rebuilding Main Street it unveiled earlier this year. A similar bill passed the House last year but died in the Senate.
We need your help in telling Congress they need to act on this bill as soon as possible to get our profession and economy moving again. Please click on this link to send a message to your House member.