The House Ways and Means Committee on Feb. 17 approved a bill to repeal the 2010 health-care law’s requirement that companies file a 1099 tax form for each vendor that provides more than $600 in goods or services. Some industry groups opposed the provision, contending it is too burdensome for small companies. House Majority Leader Eric Cantor (R-Va.) said GOP leaders hope to bring the bill to the floor in the spring. The Senate passed a similar measure on Feb. 2.
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.