On Oct. 5, 2022, the U.S. Department of Treasury and Internal Revenue Service issued a request for comments regarding implementation of the Inflation Reduction Act, notably on Davis-Bacon and apprenticeship requirements. The legislation, opposed by ABC, was signed into law on Aug. 16, 2022, and provides over $369 billion in tax credits for the construction of solar, wind, hydrogen, carbon sequestration, electric vehicle charging stations and other clean energy projects.
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Survey Closes Oct. 31: Treasury and IRS Request Comments on IRA Davis-Bacon and Apprenticeship Requirements
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OMB Announces New Guidance on Buy America Requirements
On Aug. 14, the Office of Management and Budget announced final guidance to revise OMB’s Guidance for Grants and Agreements. This guidance defines the rules for federal agencies as they distribute funding through grant programs and other financial assistance. The...
ABC’s Construction Backlog Indicator Up in July, Contractors Remain Confident
WASHINGTON, Aug. 15—Associated Builders and Contractors reported today that its Construction Backlog Indicator increased to 9.3 months in July, according to an ABC member survey conducted July 20 to Aug. 4. The reading is up by 0.6 months since July 2022. View the...
ABC: Monthly Construction Input Prices Unchanged in July
WASHINGTON, Aug. 11—Construction input prices were unchanged in July relative to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics Producer Price Index data released today. Nonresidential construction...
NLRB Overrules Boeing, Creating Confusion in the Workplace
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ABC: Nonresidential Construction Employment Increases in July
WASHINGTON, Aug. 4—The construction industry added 19,000 jobs on net in July, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has expanded by...