Contractors Call For Prompt Action On Financial Rescue Plan

Yesterday AGC issued the following statement on the financial industry rescue package. CONTRACTORS CALL FOR PROMPT ACTION ON FINANCIAL RESCUE PLAN Washington, D.C. – The Associated General Contractors of America (AGC), the nation’s largest commercial construction association, today called on Congress to take swift and decisive action to pass the financial industry rescue package. “While there may not be a perfect solution to this complex crisis, a failure to buttress financial markets will lead to a credit freeze that will cause the cancellation of construction projects, bankruptcy of construction firms and unemployment of construction workers,” stated AGC’s Chief Executive Officer Stephen E. Sandherr.  “The availability of credit to finance worthy construction projects is the lifeblood of the commercial construction industry,” Sandherr noted. The Associated General Contractors of America (AGC) is the largest and oldest national construction trade association in the United States. AGC represents more than 33,000 firms, including 7,500 of America’s leading general contractors, and over 12,500 specialty-contracting firms. More than 13,000 service providers and suppliers are associated with AGC through a nationwide network of chapters.  Visit the AGC Web site at www.agc.org. The analysis in Washington, D.C. is that the bill is critical to ensuring there is liquidity in the markets that provide financing to construction companies and those who hire construction companies. Please use this opportunity to contact your Representative and Senators regarding this important legislation.  You can send a letter from AGC’s Legislative Action Center.