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From the category archives: Economics

Buoyed by Healthy Economy, ABC Index Finds Contractors Upbeat

The majority of commercial and industrial contractors are confident about sales growth, profits and staffing levels heading into 2018, according to the latest Associated Builders and Contractors (ABC) Construction Confidence Index (CCI). Despite rising construction labor and materials costs, 55 percent of contractors expect their profit margins to expand in the first half of 2018.
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House Names Conferees to Reconcile Tax Reform Legislation

The U.S. Senate passed sweeping tax reform legislation on Dec. 2, overcoming a number of setbacks over the course of a long week.  The effort to win over holdouts and cobble together the necessary votes led to a number of late-breaking changes to the bill, culminating in what was essentially a party line vote, with Senator Bob Corker (R-Tenn.) as the only dissenting Republican.  Read the rest of entry »

Construction Spending Rises in October; Flat Year-Over-Year

Nonresidential construction spending rose 2.1 percent in October, totaling $717.6 billion on a seasonally adjusted basis, according to ABC’s analysis of data released by the U.S. Census Bureau. The level of spending, however, remains virtually unchanged from a year ago. Read the rest of entry »

Worker Availability Confidence Remains Low Among Florida Construction Firms

In its survey of Florida construction firms for the third quarter of 2017, Associated Builders and Contractors (ABC) finds the confidence to fill open positions over the next six months remains low. Continued hurricane rebuilding efforts will likely exacerbate the challenge to find enough skilled labor in Florida to meet the level of project demand. Confidence in other areas of the survey remains high.
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Tax Reform Bill Advances in U.S. Senate

On Nov. 28, The Senate Budget Committee voted to advance S.1, the Tax Cuts and Jobs Act on a party line vote of 11-10. Senators Ron Johnson (R-Wis.) and Bob Corker (R-Tenn.) voted to send the bill to the Senate floor after originally withholding their support. Read the rest of entry »

President Trump Highlights Benefits of Business Tax Cuts in Mo. Speech

On Nov. 29, President Trump delivered a strong defense of reducing the tax burden on businesses of all sizes in his “Bring Back Main Street” Speech in St. Charles, Mo. He urged Congress to push tax reform across the finish line as the U.S. Senate is expected to vote on their version of the Tax Cuts and Jobs Act this week. Read the rest of entry »

Tax Reform Moving on Capitol Hill

On Nov. 13, the U.S. Senate began the first day of an expected four-day process to amend and approve their version of tax reform legislation. The U.S. House of Representatives is expected to vote on their version of the bill on Thursday, Nov. 15. If both chambers pass their respective bills, conferees will be designated to negotiate an agreement between the House and Senate versions, which currently include a number of significant differences.  Read the rest of entry »

ABC Tells Fox Business Tax Reform Will Spur Construction Hiring

Any additional dollar that can stay in a construction company's cash flow can be invested in hiring and retaining talented workers. That was one of the messages ABC President and CEO Mike Bellaman conveyed this week during two live Fox Business Network appearances, as the House Ways and Means Committee unveiled a bill that reforms the tax code. 

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Study: Private Activity Bonds Would Create Jobs, Fast Track Construction, Save Money

A new study from the Beacon Hill Institute (BHI) for Public Policy Research shows the economy and the construction industry would benefit if Congress passed the Public Building Renewal Act (PBRA).
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ABC’s Mike Bellaman Attends White House Tax Reform Meeting

ABC President and CEO Mike Bellaman joined President Donald Trump and other business leaders at the White House Tuesday to discuss their support for tax reform legislation. At the meeting, President Trump outlined the necessity for tax reform, and thanked the organizations present for supporting the unified tax framework.  Read the rest of entry »