The House has approved an extension of the popular “Build America” Bonds program but with a cut in the federal subsidy. The extension, which would carry the bonds program until April 2013, is part of a broader small-business and infrastructure measure the House passed on March 24. There has been no action yet in the Senate on the legislation. The bonds program was established under the 2009 American Recovery and Reinvestment Act and is due to expire on Dec. 31. The bonds fund state and local infrastructure work. Since the program was launched in April 2009, the bonds’ volume has
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.