There is good news and bad news for construction in a revised, expanded Senate version of the tax package worked out earlier between the White House and Republican leaders. For construction, the positive news among the additions made to the package by Senate Majority Leader Harry Reid (D-Nev.) and Minority Leader Mitch McConnell (R-Ky.) is a one-year extension of a tax break for wind, solar and other renewable-energy projects. The bad news is that the measure does not include an extension for the Build America Bond (BABs) program, which is slated to expire on Dec. 31. Reid introduced the bill
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.