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From the category archives: Economics

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 »

Tax Reform Will Help ABC Members, Bellaman Tells Fox Business

ABC President and CEO Mike Bellaman hit the airwaves last week one day after congressional and administration leaders released a highly anticipated tax reform framework. “Our 21,000 members are applauding,” ABC CEO Mike Bellaman said in a live interview with Fox Business’s early-morning FBN:am show on Thursday, Sept. 28. “This helps our big companies, our small companies as well as our workers.”
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President Trump Launches Tax Reform Push

President Trump kicked off his push for tax reform with a speech at a manufacturing facility in Springfield, Mo., making the case that a "pro-growth, pro-jobs, pro-worker, and a pro-American" tax code is the key to revitalizing Main Street businesses, bringing back jobs and keeping the United States competitive in the global economy. The event, attended by local small business leaders including more than a dozen members of ABC’s Heart of America Chapter, marked the opening salvo in the White House’s effort to sell a highly anticipated tax bill that sits atop the GOP’s fall legislative agenda.
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ABC-sponsored Study Highlights Impact of 2704 Regs on Family Businesses

In the waning days of the Obama administration, the Treasury Department released proposed regulations under Section 2704 that could have a profound impact on the valuation and therefore taxation of family businesses. The regulations as written would institute back-door “family attribution,” a standard that has been rejected by the courts for decades, and that would jeopardize traditional discounts for minority ownership stakes, inflating tax bases by as much as 40 percent.  As the regulations were not finalized by the time President Obama left office, there is no effective date, but the rule remains pending.
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White House Releases Long-anticipated Tax Proposal

The White House rolled out its tax proposal, which aides have billed as “the biggest individual and business tax cut in American history” on April 26. Treasury Secretary Steve Mnuchin and National Economic Council Chair Gary Cohn laid out President Trump’s principles for reform from behind the podium, and a one-page document was distributed to the press. Read the rest of entry »

Trump Administration Approves Keystone XL Pipeline Permit

On March 24, the U.S. Department of State signed a permit approving the TransCanada Keystone XL pipeline, which would ship crude from Canada's western oil-sands region to refineries on the Gulf Coast. The memorandum invited TransCanada to re-submit its application for a presidential permit for the construction of the 1,600-mile pipeline and requested that the State Department reach a final permitting decision within 60 days. Read the rest of entry »