Related Links: OMB Sequestration Report CBO MAP-21 Analysis, Including Highway Trust Fund Status Unless Congress acts, federal construction programs face cuts totaling hundreds of millions of dollars on Jan. 2. The 2011 Budget Control Act mandates $1.2 trillion in "sequestration" cuts over 10 years because the House and Senate failed to pass a deficit-reduction plan last year.The 2013 sequestration share is $109 billion, which would be split between defense and non-defense sectors. An Office of Management and Budget report, released on Sept. 14, estimates individual defense accounts would be sliced 9.4% and non-defense programs would face 8.2% cuts.Construction programs would
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.