ABC issues news releases on the latest workforce, policy and industry issues, as well as construction-related economic data and trends. Commercial and industrial construction economic analyses include federal data on construction spending, employment, job openings and the Producer Price Index. 

In addition, ABC produces the Construction Backlog Indicator, the only economic indicator that reflects the amount of work that will be performed by commercial and industrial construction contractors in the months ahead, and the Construction Confidence Index, a diffusion index that signals construction contractors’ expectations for sales, profit margins and staffing levels. Methodology for both indicators can be found hereABC construction economic releases are published according to this schedule for 2023 

 
Return to Previous Page

House Passage of Democrats’ Reconciliation Package Fails Job Creators and Hardworking Taxpayers

WASHINGTON, Aug. 12—Associated Builders and Contractors released the following statement after the U.S. House of Representatives passed Senate Democrats’ $740 billion tax-and-spend bill:

“Democratic lawmakers now own the consequences of sending this radical bill to the president’s desk, including potential economic fallout, additional inflation, more workforce shortages and high materials prices that we could see in the near future,” said Kristen Swearingen, ABC vice president of legislative & political affairs. “It imposes anti-growth tax policies and injects hundreds of billions of federal dollars into the economy at a time when we are facing record-high inflation.

“Penalizing employers that pay wages based on experience, quality and market rates and limiting opportunities for millions of construction workers who choose not to join a union is no way to legislate, said Swearingen. “The so-called Inflation Reduction Act will provide an increased tax credit for private employers that impose Davis-Bacon prevailing wage requirements and government-registered apprenticeship labor-hour quotas. This unprecedented expansion of prevailing wages not only puts contractors that use industry-recognized apprenticeships at a serious competitive disadvantage when it comes to winning contracts for these critical energy projects, but it also limits the ability of many otherwise-qualified small businesses and skilled construction professionals from participating in these projects.

“While the bill provides $250 billion in incentives for clean energy projects, 83% of the value of these credits lies in projects that nonunion workers will be largely prevented from participating in due to these labor restrictions,” said Swearingen. “For an industry facing a workforce shortage of 650,000 in 2022, this is no time to impose restrictive labor policies that would exclude nearly nine out of 10 U.S. construction workers from building America’s energy infrastructure.

“Regardless of the efforts of Democrats in Washington, ABC will continue to work to ensure all qualified contractors are able to work on these new energy projects,” said Swearingen.

This week, ABC sent a letter to the House highlighting the failures in the reconciliation package, urging lawmakers to oppose the bill because its tax hikes and restrictive labor policies “would be devastating for the construction industry and the recovery needed to restore our economy.”



TrackbackPrintPermalink
Comments are closed for this post, but if you have spotted an error or have additional info that you think should be in this post, feel free to contact us.
For media inquiries, please contact Donna Reichle, ABC’s senior director of communcations and marketing at [email protected]

Click here to subscribe to ABC’s news releases or here to receive ABC's weekly newsletter, Newsline

Minimize
Search by Category   

Archives