A $112-billion tax package that the House approved on May 28 is a mixed bag for the design and construction industry. Construction groups like some of the provisions, including an extension for the popular Build America Bonds program. But some of the bill’s revenue-raising tax hikes drew strong criticism from architects, engineers, contractors and real estate interests. The Senate has the next move. If that chamber amends the measure, it would return to the House, says Karen Lapsevic, Associated General Contractors’ director for tax, fiscal affairs and infrastructure finance. “So there might be a couple of more votes on this
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.