The House was expected to take up a bill during the week of Nov. 30 that would freeze the estate tax permanently at 2009 levels. As a floor vote drew near, industry sources said they expected easy passage of the measure, which would keep the estate-tax exemption at $3.5 million for individuals. The maximum tax rate would remain at 45%. Democratic leaders in Congress and the Obama administration say a legislative “fix” is needed to ensure the inheritance tax does not revert in 2011 to pre-Bush era levels, when an estate-tax reform bill enacted in 2001 expires. The Associated General
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.