Legislative Updates

Legislative Updates

From the monthly archives: December 2018

We are pleased to present below all posts archived in 'December 2018'. If you still can't find what you are looking for, try using the search box.

ABC Predicts Construction Sector Will Remain Strong in 2019

Associated Builders and Contractors Chief Economist, Anirban Basu, forecasts another strong year for construction sector performance, yet warns about inflationary pressures, according to a 2019 economic outlook published today in Construction Executive Magazine. Job growth, high backlog and healthy infrastructure investment all spell good news for the industry. However, historically low unemployment has created a construction workforce shortage of an estimated 500,000 positions, which is leading to increased compensation costs. “U.S. economic performance has been brilliant of late. Sure, there has been a considerable volume of negativity regarding the propriety of tariffs, shifting immigration policy, etc., but the headline statistics make it clear that domestic economic performance is solid,” said Basu. “Nowhere is this more evident than the U.S. labor market. As of July, there were a record-setting 6.94 million job openings in the United States, and construction unemployment rea ...

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Federal Update

The House and Senate will be in today to consider resolutions pertaining to the lying in state of former President George H.W. Bush who passed away late Friday night. President Bush will lie in state in the Capitol Rotunda from Dec. 3-5. Trade Update: President Trump and Chinese President Xi Jinping reached a trade truce, with a 90 day time frame to reach an agreement on reforms, to avert higher tariffs that were scheduled to go into effect on January 1st. Trump also held a ceremonial signing of the renegotiated NAFTA agreement known as the USMCA. The President told reporters that he intends to formally withdraw from NAFTA in six months. He is presenting Congress with an all or nothing decision to approve the USMCA or return to pre-NAFTA. The U.S. is still working on a deal for Mexico and Canada to earn exemptions from steel and aluminum tariffs, which is seen by many as a critical step needed before Congress will consider approving the USMCA. Appropriations Update: With the Dec. 7th funding deadline approach ...

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