Congress has approved a three-year reauthorization for the U.S. Export-Import Bank, boosting the total financial assistance the bank can provide to U.S. companies, including construction contractors and equipment makers.Final congressional action came on May 15, when the Senate passed the measure by a strong 78-20 vote after turning back five Republican-sponsored amendments that would have put restrictions on Ex-Im's assistance. The measure had cleared the House on May 9.After the Senate vote, President Obama said in a statement that he looked forward to signing the bill into law. He also said that the legislation "will help American businesses create jobs
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.