Construction Legislative Week in Review
www.agc.org November 29, 2018
Spacer
AGC Home Page
Email our Editor
Search Back Issues
Forward to a Friend
Subscribe
Printer Friendly
AGC Political Toolkit
RSS
Take Action!
On the Inside
Infrastructure
AGC Appears Before Senate Committee, Calls for Infrastructure Package with Highway Trust Fund Fix
Tax
Brady Introduces End of Year Tax Package
Human Resources
Pension Committee Fails to Find Solutions to Solve Multiemployer Pension Crisis by Deadline, Commit to Continue Working on Issue
Surveys
AGC and Sage Begin Surveying Members for Annual Outlook
Events
AGC Financial Issues Committee Winter Meeting Registration Open
Safety Management Training Course | February 11-13, 2019 | Omaha, NE
Awards
20th Annual AGC-Willis Towers Watson Construction Safety Excellence Awards (CSEA)
Infrastructure
AGC Appears Before Senate Committee, Calls for Infrastructure Package with Highway Trust Fund Fix
 
AGC Vice President Bob Lanham testifies in front of Senate Environment and Public Works Committee.

AGC Vice President Bob Lanham was one of three stakeholder representatives to testify this week before the Senate Environment and Public Works (EPW) Committee about the need to provide much-needed funding to address the Nation’s transportation and infrastructure needs, specifically the Highway Trust Fund’s revenue shortfall.   The other representatives were from the American Association of State Highway and Transportation Officials (AASHTO) and the Sacramento (CA) Area Council of Governments.
 
EPW Committee Chairman John Barrasso (R-WY) called the hearing to start the discussion about an infrastructure package in the next Congress and the need to reauthorize the FAST Act. The hearing was well attended by Senators on the Committee demonstrating the bipartisan interest in addressing infrastructure concerns. Lanham pointed out that the American people, President Trump, bipartisan members of Congress and members of the stakeholder community have all expressed the need for a bold and robust infrastructure vision and urged Congress to act sooner rather than later in passing an infrastructure package. 
 
Vice President Lanham’s testimony detailed how AGC has long recognized and advocated for the need to invest more in all types of infrastructure and called on Congress and the Administration to make any new infrastructure plan broad-based.  Lanham cautioned, however, that any new proposal must not ignore the gravest threat to transportation investment throughout the nation – the long-term solvency of the Highway Trust Fund. 
 
AGC will continue to work with Congress and the Administration enact a robust infrastructure bill that will fix the Highway Trust Fund. 
 
For more information, contact Brian Deery at deeryb@agc.org or (703) 837-5319.
Return to Top
Tax
Brady Introduces End of Year Tax Package
 

On Monday night, Kevin Brady, Chairman of the Ways and Means Committee introduced a tax package that House Republicans hope to see included in a final, end of year legislative package.  On December 7th, federal funding will expire unless Congress passes a final year spending package.  By introducing the tax package now, Chairman Brady is hoping to see a number of his tax priorities included in the negotiated spending agreement that Congress needs to pass to avoid a government shutdown.

Included in the tax package are a number of AGC supported provisions, including:

  • A technical correction to the “retail glitch” which unintentionally extended the depreciation schedule for interior commercial property improvements from 1 year to 39 years.
  • A one-year extension of the 179D commercial buildings energy efficiency tax deduction.
  • An improvement to a rule governing multiple employer pension plans.

The tax package also includes a number of administrative changes to the Internal Revenue Service (IRS), changes to the tax treatment of retirement plans, and other short-term extensions of expired or expiring tax provisions (commonly called “tax extenders”).  Unfortunately, the proposal did not include an important priority for AGC and the broader business community—making the temporary individual and business provisions of the Tax Cuts and Jobs Act permanent.

Additionally, it is unclear how much, if any, of these tax provisions will end up becoming law before the end of the year.  The package was constructed without any Democratic input but will require Democratic support in the Senate to become law.  AGC will continue to monitor any developments and continue to support construction tax priorities in any negotiated agreement.

For further information, please contact Matthew Turkstra, at matt.turkstra@agc.org or (202) 547-4733. Return to Top

Human Resources
Pension Committee Fails to Find Solutions to Solve Multiemployer Pension Crisis by Deadline, Commit to Continue Working on Issue
 
The Joint Select Committee on Solvency of Multiemployer Pension Plans had until Nov. 30th to issue recommendations for an overhaul of the nation’s pension system, however, today they issued a statement declaring a legislative solution will not be found by the deadline. The statement does highlight the need to find a solution and they pledge to continue to work together. At this point a timeframe for any future action remains uncertain but AGC is committed to finding legislative solutions to advance our priorities. 
 
Initial proposals of the committee, which did not advance, gave AGC significant concerns. Those concerns centered around the financial burden that would be placed on otherwise healthy plans at the expense of funding plans otherwise heading toward insolvency. The punitive changes were largely based on changes to funding rules and premium increases that would negatively impact plans, contributing employers and participants.
 
AGC’s priorities for pension reform continue to include authorizing alternative plan designs such as Composite Plans—as included in the GROW Act—and doing no harm to the system. AGC will continue to advocate for those priorities over the remaining days of this Congress and the next.  

For more information, contact Jim Young at youngj@agc.org or (202) 547-0133.
Return to Top
Share: LinkedIn Twitter Facebook
Surveys
AGC and Sage Begin Surveying Members for Annual Outlook
Help Us Generate a Comprehensive Outlook for 2019 by Taking the Survey Today
 
Each year around this time, AGC asks you – our members – to predict what next year will be like for your business. AGC has partnered with Sage to prepare questions that focus on expectations for market performance, hiring, labor market conditions, etc. Please take a moment to complete the survey here. 
 
For more information, contact Nahee Rosso at chon@agc.org or (703) 837-5348.
Return to Top
Events
AGC Financial Issues Committee Winter Meeting Registration Open
Early Registration Ends November 30, 2018
 
The AGC Financial Issues Committee (FIC) winter meeting will be held January 10-11 at the JW Marriott Turnberry Resort in Miami, Florida. Visit the meeting site to register and book your stay!
 
Member company CFOs, controllers, tax directors, sureties, and other senior accounting professionals who seek an opportunity to learn about and discuss financial issues facing the construction industry as well as formulate positions on tax and accounting matters for the association should attend. Meetings center around discussions with the Financial Accounting Standards Board (FASB), practitioners, and financial officer breakout groups on topics including internal controls, project performance reviews, and cybersecurity solutions. Attendees also have an opportunity to network and discuss matters like audit issues, executive and congressional action on federal tax policy, and best practices for industry professionals.
 
At the committee’s earlier meeting this summer in Washington, D.C., U.S. Senator Steve Daines (R-Mont.) addressed attendees and provided them with a legislative update. He also addressed the recently passed tax reform legislation and discussed how it impacts the construction industry and industry priorities. The group was also privy to a presentation on the new “Opportunity Zones,” created in the Tax Cuts and Jobs Act from Shay Hawkins, tax counsel to U.S. Senator Tim Scott (R-S.C.), received an update on the implementation of new accounting standards, and heard from AGC Chief Economist Ken Simonson about the economic outlook for construction.
 
For more information, contact Matthew Turkstra at matt.turkstra@agc.org or (202) 547-4733.
Return to Top
Share: LinkedIn Twitter Facebook
Safety Management Training Course | February 11-13, 2019 | Omaha, NE
 
The AGC Safety Management Training Course (SMTC) provides attendees with three days of training on the basic skills needed to manage a company safety program in the construction industry. The SMTC program builds on Focus Four training and prepares attendees to manage key safety issues on the job site and provides techniques for delivering basic safety training to field personnel. Participants will receive intensive instruction and training that will allow them to return to their firms with readily applicable new skills to positively impact their company’s safety and health program. Visit the Safety Management Training Course page for more information.
 
For more information, contact Nazia Shah at (703) 837-5409 or nazia.shah@agc.org.  
Return to Top
Share: LinkedIn Twitter Facebook
Awards
20th Annual AGC-Willis Towers Watson Construction Safety Excellence Awards (CSEA)
Deadline for Submitting Applications is December 14, 2018
 
The AGC-Willis Towers Watson Construction Safety Excellence Awards (CSEA) is the industry’s elite safety excellence awards program for contractors, service providers, and suppliers of all types and sizes. CSEA recognizes companies that develop and implement premier safety and risk control programs and showcases companies that achieve continuous improvement and maintenance of their safety and health management system. So, don’t miss this opportunity to be recognized for your best-in-class safety program! Please visit this link for more information on the AGC-WTW CSEA program.
 
For more information, contact Nazia Shah at (703) 837-5409 or nazia.shah@agc.org.  
Return to Top
Share: LinkedIn Twitter Facebook

AGC Townhouse, 53 D Street SE • Washington, DC 20003 • 202.547.1625 (phone) • 202.547.1635 (fax)• www.agc.org
AGC Home | About AGC | Advocacy | Industry Topics | Construction Markets | Programs & Events | Career Development | News & Media

To ensure delivery of AGC’s Construction Legislative Week in Review, please add 'communications@agc.org' to your email address book or Safe Sender List. If you are still having problems receiving our communications, visit our white-listing page for more details.

© Copyright The Associated General Contractors (AGC) of America. All Rights Reserved.