AGC Urges Congress to Fund the Government
What Contractors Should Do in the Event of a Shutdown
On Jan. 18, AGC urged Congress to
pass a short-term funding bill that would avoid a government shutdown and
provide temporary relief from several Obamacare taxes impacting construction
employers. AGC has compiled resources – What Contractors Should Know in
the Event the Government Shuts Down – to help your company deal with
the consequences of a government shutdown.
As noted, the funding bill would additionally provide
essential relief from a number of Obamacare taxes that would otherwise
detrimentally impact construction contractors, especially small businesses. Specifically, the bill delays until 2022 the Cadillac tax, a 40 percent excise tax
on employer-sponsored health coverage whose benefits exceed specific
thresholds. The legislation would also provide a one year, 2019 moratorium on
the health insurance tax that will
increase the cost of health insurance for small business employers, the
majority of AGC’s construction contractor membership.
For more information, contact Jordan Howard at email@example.com.
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AGC Testifies in Support of NEPA/404 Permitting Merger
House Transportation Committee Considers Environmental Streamlining
On Jan. 18, AGC’s Senior
Counsel on Environmental Law and Policy Leah Pilconis testified
before the House Transportation and Infrastructure Committee in support of
further federal environmental review and permit streamlining measures. Among
the association called on Congress to merge the National Environmental Policy
Act review and Clean Water Act Section 404 permit processes to reduce duplication
and delay in the federal environmental approval process. U.S. Army Corps of Engineers Deputy Commanding
General for Civil and Emergency Operations Major General Ed Jackson and
Director of Civil Works James Dalton, among others, also testified on the panel
that included AGC.
For more information, contact Leah Pilconis at firstname.lastname@example.org.
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U.S. Chamber Calls for 25 Cent Gas Tax Increase
AGC CEO Addresses Group
On Jan. 18, the U.S. Chamber of Commerce called for
increasing the federal gas tax by 25 cents as part of its recommendations for
an infrastructure package announced at its “America’s Infrastructure Summit:
Time to Modernize” event. In addition to increasing the gas tax, the
Chamber’s recommendations include leveraging more public and private resources,
streamlining the permitting process, and expanding the workforce to build the
infrastructure. AGC CEO Steve Sandherr was asked to participate in the
event and shared the association’s efforts to address the workforce challenges
facing the construction industry.
AGC has been sharing a similar plan – An Agenda to
Rebuild Our Infrastructure & Our Workforce – with Congress and
the administration and looks forward to working with the U.S. Chamber and other
stakeholders to ensure an infrastructure plan is enacted that provides
increased funding and financing, streamlines the environmental permitting
process and helps address the construction industry’s workforce challenges.
For more information,
contact Sean O’Neill at email@example.com.
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Tax Reformís Impact on Your Construction Business & Market
Complimentary AGC WebEd: Jan. 30 from 2:00 to 3:00 PM ET
today for this complimentary AGC webinar. Congress recently passed the
most far-reaching tax reform legislation since 1986. No matter what your
construction market—public or private—or construction firm—C-corporation,
S-corporation, LLC, LLP, or partnership—the new tax reform law will have an
impact on you.
During this webinar, you will hear tax and accounting firm
CBIZ’s Cord Armstrong—a CPA and leader in the firm’s National Construction
Industry Practice Group—AGC’s lead infrastructure and tax policy experts—Sean
O’Neill and Matt Turkstra, respectively— and AGC Chief Economist Ken Simonson
impact of the new law on your construction business—no matter the type,
C-corp, S-corp, LLC, partnership or so forth;
your business should consider before converting to a C-corp, such as the
20 percent pass-through deduction and how it works;
to tax incentives for public and private construction, including but not
limited to private activity bonds and the historic tax credit;
in the law to be aware of and the chances of this Congress enacting
“technical corrections” to address them;
next for the Department of the Treasury and Internal Revenue Service when
it comes to issuing guidance and regulations to help you understand how to
AGC advocated for your construction business throughout this process and
continues to do so.
For more information, click
here or contact Matt
Turkstra at firstname.lastname@example.org.
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AGC Financial Issues Committee Winter Meeting Recap
On Jan. 8-9, nearly 40 member company CFO’s and other senior
accounting and tax professionals attended the AGC Financial Issues Committee
(FIC) Winter Meeting in San Diego, California. Committee members discussed the
recently passed tax reform legislation and how it impacts the construction
industry and its priorities.
The group also discussed the use of Public Private
Partnerships (P3s) with Mike Lucki of Lucki Advisors; received an update on the
implementation of new accounting standards from Susan Cosper of the Financial
Accounting Standards Board (FASB); and heard from AGC Chief Economist Ken
Simonson about the economic outlook for construction.
The FIC Summer Meeting will be held June 7-8 at the Madison
Hotel in Washington, DC. Meeting and hotel information will be circulated
in the coming months.
For more information, contact Matt Turkstra email@example.com.
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|TRADE & CONSTRUCTION MATERIALS
Section 232 Report on Foreign Steel Imports Reaches Trumpís Desk
Could Have Implications on Construction Steel Prices
On Jan. 11, Commerce Secretary Wilbur Ross delivered his “Section
232” report on the national security threat posed by foreign steel mill product
imports to the president. Section 232 of the Trade Expansion Act allows the president
to utilize his “statutory authority to adjust imports” without Congress’
approval if a government-led inquiry yields sufficient evidence of a threat.
President Trump now has 90 days to review the Commerce Department’s findings
and recommend remedies, likely in the form of tariffs, quotas, or some sort of
hybrid package. Should the administration act on the report, the construction
industry may see an increase in steel prices.
Section 232 is unique in that damage is not calculated based
upon import volume. This is particularly important because China is the
ostensible target of this investigation, despite a dramatic decrease in Chinese
steel imports. And, while China is the biggest net exporter of steel – and has
contributed mightily to the global glut – Canada and other European allies are,
in fact, the United States’ largest sources of foreign steel.
President Trump is keen on shielding domestic steelmakers
from unfair imports and few doubt that the report will fail to reinforce the
administration’s view that national security is currently being compromised. In
determining a response, President Trump will have to weigh the timing of any
announcement, as well as the scope of a response—sweeping trade restrictions on
foreign steel imports or more precisely targeted remedies.
AGC will continue to monitor the situation and update its
members as more information becomes available.
information, contact Collin Janich at firstname.lastname@example.org.
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