Second Bush Term, New Congress Seen as Pro-Business, But Tough on Domestic Spending
With President Bush headed for a second term and the Republicans winning larger majorities in the Senate and House, construction industry officials foresee a continued pro-business stance in Washington, but they also expect increased pressure on spending for infrastructure and other domestic programs.
Stephen Sandherr, CEO of the Associated General Contractors, says the election results amount to "really positive news on the regulatory and tax side." He says that "this President is going to continue to pursue a pro-growth economy with the understanding that taxing businesses, small businesses and individuals is not the right way to grow the economy." Nick Yaksich, vice president for government relations with the Association of Equipment Manufacturers, cites the industry's long-desired permanent repeal of the inheritance tax and says that with the expected 2005 lineup in Washington "maybe some of these issues can actually see the light of day