Construction Industry Faces Highest Tax Burden, According to U.S. Treasury
Construction shoulders a bigger tax burden than any other industry in the United States with an effective rate over 30 percent, according to a new report from the U.S. Department of the Treasury. Associated Builders and Contractors (ABC) responded to the report by urging lawmakers to pass tax reform that would encourage economic growth by lowering rates for both corporate and pass-through businesses. Read more on ABC’s position.
Construction Dive covered other ways the high corporate tax impacts the construction industry.
Tackle Skilled Worker Shortage, Construction Groups Urge Congress
ConstructionEquipmentGuide.com reports on a letter signed by 23 construction trade groups urging members of the House and Senate to make career technical education a top legislative priority in 2016. Spearheaded by the Associated Equipment Distributors, the letter pointed to an AED Foundation study that found the skilled worker shortage is skilled equipment technicians is costing equipment dealers $2.4 billion a year in lost revenue and economic opportunity. Similar results can be felt throughout the construction industry.
Davis-Bacon Application on Public-Private Partnerships Rejected by U.S. Court of Appeals – Find out the sound rationale behind the court’s decision in the analysis by Scott M. Wich for SHRM, Society for Human Resource Management.
Construction Confidence Down, But Not Out
The labor shortage continues to impact the construction industry, with Associated Builders and Contractors reporting a slight drop in the Construction Confidence Index for the second half of 2015.
Construction Dive looked reported on the recent CCI slip and other economic factors shaping the confidence of the construction industry in their report.