Photo By AP Wideworld Obama meets with Senate and House leaders as talks begin to try to prevent tax increases and spending reductions from taking hold. Related Links: Construction Starts Forecasted to Increase 6% in 2013 Construction Shifts Focus to Legislation, Regulatory Issues With only weeks remaining before a combination of tax hikes and spending cuts are set to kick in, construction industry officials are anxiously watching the progress of White House and congressional negotiations to stave off that painful outcome.If there is no deal and the economy tumbles off the so-called fiscal cliff, construction could be clobbered by three
Related Links: PBGC Press Release on 2012 Annual Report Pension Agency Sees Rise in Aid to Ailing Multiemployer Plans (ENR 12/5/11) The Pension Benefit Guaranty Corp. program that assists multiemployer pension plans has seen its deficit widen significantly. Construction is the largest industry in PBGC's multi-employer program, with 3.9 million people, or 37.4% of the total insured in 2009, the most recent PBGC data published. Multi-employer plans are common in the industry's unionized sector.On Nov. 16, PBGC reported its multi-employer insurance-plan deficit jumped to $5.2 billion, from $2.8 billion in 2011. PBGC says its assets can meet obligations "for a
Related Links: Key House Vote Looms in September for U.S.-Russia Trade Bill U.S.-Russia Trade Bill On Fast Track to Passage A bill that would result in tariff cuts on U.S. construction-equipment exports to Russia is heading toward a Senate vote. The measure, which would establish permanent normal trade relations (PNTR) with Russia, cleared a hurdle on Nov. 16, when the House approved it on a 365-43 vote. In the Senate, Finance Committee Chairman Max Baucus (D-Mont.) said he would work to get the bill through that chamber by late December.The measure has the support of groups such as the Association
Related Links: After Elections, Construction Looks for Action on Key Issues Keystone Pipeline a Litmus Test for Obama The fierce and expensive federal election campaigns produced no major power shifts: President Obama was re-elected; Democrats added two seats to their Senate majority; and Republicans held the House, though they lost seven seats.Leaving aside blue-state, red-state maps, construction officials are focusing on pressing legislative and regulatory issues. Avoiding the "fiscal cliff" is the immediate matter. Obama and Capitol Hill leaders began talks on Nov. 16 to decide the fate of billions of dollars in tax breaks that expire on Dec. 31
Related Links: A Second Obama Term Could Look Much Like the First (ENR 9/17/12 issue) Consruction's Campaign Dollars Are Streaming In (ENR 11/5/12 issue) After an estimated $6 billion in spending and months of fierce campaigning, the results of the Nov. 6 federal elections have left things about where they were: President Obama is still president, the Democrats have increased their Senate majority by a couple of seats, and the Republicans’ control of the House remains nearly as strong as it was.Will bipartisan deals now prevail where conflict once was the rule?"It's a new ball game, but the teams are
Related Links: BLS employment report for October 2012 AGC analysis of October unemployment report ABC analysis of October unemployment report Construction’s unemployment rate declined in October to 11.4% from September’s 11.9%, as the industry recorded a gain of 17,000 jobs in the month.The Bureau of Labor Statistics’ latest monthly report on the employment picture, released on Nov. 2, also showed that construction’s rate last month improved over the October 2012 mark of 13.7%. The BLS rates are not adjusted for seasonal variations.Associated General Contractors officials said the BLS numbers did not show any impacts from Superstorm Sandy. They said any
Related Links: Access the CPR Database for Construction Spending Can Leo Linbeck's Super PAC Remake Congress? As presidential and congressional campaigns head toward the Nov. 6 finish line, construction industry companies, associations and labor unions have pushed their campaign contributions to new highs. Even before final totals are in, they have surpassed the records set in 2008, the last presidential election cycle.Despite construction's still-tough market conditions, construction organizations and firms had contributed $101.1 million to federal candidates as of Oct. 25, according to the Center for Responsive Politics (CRP). The total for the full 2008 cycle was $94.9 million. In
Related Links: Clean Water Action statement Statement from Reps. Mica, Gibbs U.S. Fish and Wildlife Service wetlands status and trends report (Oct. 2011) As the Clean Water Act marked its 40th anniversary on Oct. 18, environmental groups and congressional Republicans took the occasion to voice their sharply differing concerns about how the landmark law will be applied in the near future.The conflicting birthday messages come less than three weeks before the Nov. 6 elections, the outcomes of which will play a large role in determining future Clean Water Act legislation and regulations.Both sides acknowledge the improvements in water quality since
Photo Courtesy of American Road & Transportation Builders Association CFO Bertram says DOT aims to streamline its reviews of TIFIA applications. Related Links: States Gear Up to Seek Expanded TIFIA Loan Aid MAP-21 Transportation Measure Goes on the Books Advocates of public-private partnerships to help finance transportation projects are hailing the new Moving Ahead for Progress in the 21st Century Act, or MAP-21, and hustling to take advantage of a key part of the statute: a more than five-fold hike in a Dept. of Transportation loan program.As states await word from DOT on preliminary requests for 2013 aid under its
Five teams of major construction firms have been selected to compete to design and build the second phase of the planned Metrorail transit extension to northern Virginia’s Dulles International Airport, and beyond.
