On December 3, AGC, along with 564 trade associations, called on Congress to pass legislation reversing IRS policy that turns promised, tax-free PPP loan forgiveness into a taxable event. The effect of this is to tax a business’s PPP loan forgiveness up to 37 percent. AGC is very engaged in exhorting Congress to include legislation to overturn the IRS Notice in any end of year tax or spending package, and we will continue to provide updates to members.
OFCCP recently announce the release of its new technical assistance guide for small contractors. The guide provides compliance assistance regarding equal employment opportunity obligations for small federal supply and service, construction contractors and subcontractors, as well as and federally assisted construction contractors and subcontractors. The agency considers contractors’ sizes when developing its requirements to consider the burdens on small contractors.
Houston-The Woodlands-Sugar Land and Brockton-Bridgewater-Easton, Mass. Have Worst 12-Month Losses, While Dallas-Plano-Irving, Texas and Walla Walla, Wash. Lead in Construction Job Increases
Demand For Most Types of Nonresidential Projects Remains Flat Amid COVID-Uncertainty, Dwindling State and Local Budgets and the Lack of New Federal Coronavirus Relief Measures, Putting Jobs at Risk
Help Us Generate a Comprehensive Outlook for 2021 by Taking the Survey Today Each year around this time, AGC asks you – our members – to predict what next year will be like for your business. AGC has partnered with Sage to prepare questions that focus on expectations for market performance, hiring, labor market conditions, etc. Please take a moment to complete the survey here.
The U.S. Department of Labor’s Wage and Hour Division (WHD) announced that it has launched an education and enforcement initiative in eight Southeastern states to ensure construction companies that work on federal or federally assisted construction projects meet prevailing wage requirements of the Davis-Bacon Act (DBA) and the Davis-Bacon and Related Acts (DBRA).
New York and Vermont Post Worst Losses since February as Virginia and South Dakota Add the Most; Maryland Records Worst One-Month Job Losses, While California and Alaska Post Biggest Gains
Applies to PPP loans of $2 Million or More