The U.S. Department of the Treasury plans to release a proposed rule implementing provisions of the ABC-opposed Inflation Reduction Act. The law provides over $270 billion in tax credits for the construction of solar, wind, hydrogen, carbon sequestration, electric vehicle charging stations and other clean energy projects, conditioned on requirements that project contractors meet prevailing wage and apprenticeship requirements outlined in the legislation and IRS guidance.
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Treasury Plans Proposed Rule on IRA Prevailing Wage 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
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NLRB Overrules Boeing, Creating Confusion in the Workplace
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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...