On July 16, AGC submitted regulatory comments on the U.S. Treasury Department's interim final rule governing how state, local, territorial and Tribal governments can spend $350 billion from a COVID-relief fund established under President Biden's $1.9 trillion COVID-19 relief law: the American Rescue Plan Act. AGC’s regulatory comments urge the Department to, among other things: (1) confirm and expand eligibility for all forms of infrastructure and building construction investments and related revenue streams; and (2) drop any reporting requirements encouraging government-mandated project labor agreements, local hiring requirements and the expansion of prevailing wage laws beyond the status quo. And, in a victory for AGC and the construction industry, the Department provided new guidance clarifying that losses of revenues from gas taxes and vehicle licensing fees incurred during the COVID-19 pandemic are eligible to be replenished using these recovery funds. AGC will continue to monitor the distribution of these recovery funds.
For more information, contact jordan.howard@agc.org or (703) 837-5368.