On May 12, the U.S. Department of the Treasury and Internal Revenue Service released additional guidance on the Inflation Reduction Act’s domestic content bonus tax credits, which are in effect for all taxable years ending after May 12, 2023. The guidance may be relied upon by taxpayers for all construction that begins prior to the effective date of forthcoming proposed regulations.
Treasury Releases Guidance on IRA Domestic Content 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....
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...