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From the category archives: Legislation

Legislation

ABC Celebrates Passage of Historic Tax Reform Bill

Associated Builders and Contractors (ABC) President and CEO Michael D. Bellaman released the following statement after Congress passed The Tax Cuts and Jobs Act:

“This is a historic day for the construction industry. For too long, ABC’s 21,000-plus members have paid the highest effective tax rate of any sector of the economy. We are a capital-intensive, cash-flow challenged, domestically oriented industry comprised mostly of small, family owned and closely held merit shop construction companies employing hardworking Americans. Our members have waited for Washington to let them keep more money in their paychecks, which would enable them to invest back in their businesses, create new jobs in their communities and grow the economy. The wait is finally over.
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The ‘Trump Effect’ Positive for Contractors, Says ABC Chair Chuck Goodrich

Chuck Goodrich, president of Gaylor Electric, Inc., explained the Trump administration’s regulatory rollback is giving construction companies more efficiency and they don’t feel like they are “under attack” from the federal government. According to Goodrich’s presentation, experts say President Trump is on pace to put out fewer rules than the “reigning deregulation champion,” President Ronald Reagan.
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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 »

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 »

Construction Organizations Tell Congress to Continue Temporary Protected Status (TPS) Designations

On Nov. 7, ABC joined Associated General Contractors, the Leading Builders of America and the National Association of Home Builders in a letter to Congressional leaders expressing the construction industry’s concerns regarding the upcoming decisions related to the Temporary Protected Status (TPS) designations for El Salvador, Haiti and Honduras. The letter urged Congress to take legislative action to ensure that TPS holders can remain and continue to work legally in this country.  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 Applauds House for Passing the Save Local Business Act

ABC praised the U.S. House of Representatives for passing the Save Local Business Act (H.R. 3441) this week with bipartisan support. ABC joined forces with a wide range of business advocacy groups, including the Coalition for a Democratic Workplace and the Coalition to Save Local Businesses, to build support for the ultimate passage of H.R. 3441. 
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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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