The Senate has passed a $123-billion measure that would extend a collection of tax breaks through December, including some that could benefit construction. The extensions would be retroactive, because many of the incentives have expired. The largest item in the “extenders” bill, which the Senate approved March 10, would continue unemployment benefits and COBRA health-care coverage through 2010. Those provisions’ estimated 2010-2011 cost is $98.5 billion. For the Real Estate Roundtable, the bill’s most important provision would extend 15-year depreciation for interior improvements to leaseholds and certain other facilities, says David F. Pearce Jr., vice president and counsel. It would
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.