New Federal Investments in Transportation, Other Types of Infrastructure Will Help Offset Expected Declines in State and Local Funding as State Budgets Suffer Impacts of Coronavirus Lockdowns
On May 12, 2020, the Associated General Contractors and other construction contractor groups called on Congress to address the growing multiemployer pension crisis in a letter. While Congress debates the next round of COVID-19 related stimulus legislation to address the unprecedented public health emergency the multiemployer pension crisis has been growing. Construction industry plans account for over half of all multiemployer defined benefit plans and cover nearly four million multiemployer defined benefit participants.
Association Partner Procore Also Releases Near Real-Time Construction Data Measuring Impacts of Coronavirus as Association Calls for New Measures, Including Safe Harbor Provisions, to Revive Industry
Treasury Department’s Recent Changes to Paycheck Protection Program Loan Guidance Are Making It Even Harder for Firms to Maintain Jobs Amid Declining Private-Sector Demand for Construction
Laredo, Texas and Lake Charles, La. Have Largest Construction Job Losses While Lewiston, Idaho-Wash. And Dallas-Plano-Irving, Texas Add the Most Jobs; Association Survey Indicates Losses will Spread
Nearly Half of Firms Have Received Loans, But Growing Number of Project Cancellations, Delays and Delivery Problems Imperil Industry; Association Leaders Call for Immediate Infrastructure Funding