“Today, Congress passed comprehensive tax reform legislation that will lower rates, spur economic growth and impact construction businesses for years to come. However, this process did not start as well as it ended for the construction industry. (See chart linked here for details on the final bill)
“Initially, the tax reform bill provided little relief for many construction firms organized as pass-throughs, such as S-corps, limited liability corporations and partnerships; eliminated Private Activity Bonds, essential to the financing of transportation infrastructure, low-income housing and other public construction and public-private partnership projects; and repealed the Historic Tax Credit, critical to the private construction market for the rehabilitation and renovation of historic buildings.
Read full statement here.