On Nov. 30, the U.S. Treasury Department and Internal Revenue Service released guidance regarding tax credits for private clean energy projects funded by the Inflation Reduction Act conditioned on compliance with prevailing wage and government-registered apprenticeship requirements. Treasury and the IRS also released FAQs to provide additional information on the prevailing wage and apprenticeship requirements.
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Treasury and IRS Release Unclear Guidance on IRA Tax Credits, 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
On Aug. 2, the National Labor Relations Board issued a decision in Stericycle Inc., which overruled Boeing and adopted a new legal standard for evaluating employer work rules challenged as facially unlawful under Section 8(a)(1) of the National Labor Relations Act....
DOL Increases Costs for Contractors and Taxpayers With Davis-Bacon Final Rule
On Aug. 8, the U.S. Department of Labor issued its final rule, Updating Davis-Bacon and Related Acts, making drastic revisions to existing regulations concerning government-determined prevailing wage rates that must be paid to construction workers on federal and...