On Sept. 14, the Obama administration released a report to Congress providing a first guess at how they will implement $1.2 trillion in automatic budget cuts—called sequestration—slated to begin on Jan. 2, 2013. This sequestration process comes as a result of the debt ceiling deal –enacted under the Budget Control Act of 2011 (BCA)—for which background information can be found here and here.

Formerly AGC Tax & Fiscal Affairs Committee The AGC Financial Issues Forum will hold their winter meeting Jan. 10-11, 2013 in Scottsdale, Arizona at Hotel Valley Ho.  At this meeting, attendees will discuss numerous topics, including: the legislative and political landscape including the plans for comprehensive tax reform, an update of Federal Accounting Standards Board (FASB) activities, and a discussion on evolving construction tax issues.

Earlier this week, AGC’s chapter leaders descended upon Washington, DC for its annual National & Chapter Leadership Conference. This conference is designed to bring chapter leaders together to discuss best practices and meet with Members of Congress to address AGC's top legislative issues. AGC members visited with more than 100 members of Congress and their staff.

Last night in the battleground state of Colorado, President Barack Obama and former Gov. Mitt Romney met for the first of three presidential debates.  This debate focused on domestic policy and featured discussions on the economy, tax policy, health care and the role of government.

Although Congress has adjourned until after the Nov. 6 election, bipartisan groups of senators are meeting to start compiling a plan to avoid the looming fiscal cliff.  The Gang of Six (senators Warner (D-VA), Chambliss (R-GA), Durbin (D-IL), Conrad (D-ND), Crapo (R-ID) and Coburn (R-OK)), which has been discussing a bipartisan deficit reduction plan since late 2011, has recently added two Senators (Alexander (R-TN) and Bennett (D-CO))  and planned meetings between now and election day.

In a Sept. 25 letter, AGC expressed its disappointment in Congress for passing a six-month, FY 2013 continuing resolution (CR)—funding the government through March 27, 2013, at about FY 2012 levels—and urged it to return to the practice of enacting traditional, year-long funding measures that provide some certainty to the construction industry. The House first passed the CR on Sept. 13 and the Senate passed it Sept. 22. President Obama is expected to sign the measure into law before the new fiscal year begins on Oct. 1.

Next week, AGC will hold its annual National & Chapter Leadership Conference in Washington, D.C., which brings chapter leaders together to discuss best practices and meet with members of Congress to address AGC's top legislative issues. During the meetings with legislators, AGC members will use the opportunity to urge support for increased federal investment in infrastructure, multi-employer pension plan reform, extending expired and expiring tax provisions to avoid the fiscal cliff and support legislation to stop EPA guidance from expanding federal wetlands jurisdiction.

On Sept. 25, the U.S. Department of Transportation’s Federal Highway Administration released new information regarding the implementation of the Moving Ahead for Progress in the 21st Century Act (MAP-21).  The guidance and interim guidance documents, along with questions & answers, were issued ahead of the Oct. 1 effective date for most highway provisions in MAP-21 both funding and changes to policy.

In a Sept. 25 letter, AGC expressed its disappointment in Congress for passing a six-month, FY 2013 continuing resolution (CR)—funding the government through March 27, 2013, at about FY 2012 levels—and urged it to return to the practice of enacting traditional, year-long funding measures that provide some certainty to the construction industry. The House first passed the CR on Sept. 13 and the Senate passed it Sept. 22. President Obama is expected to sign the measure into law before the new fiscal year begins on Oct. 1.

On Sept. 20, the Senate Environment and Public Works Committee held a hearing on the need for a Water Resources Development Act (WRDA) reauthorization bill. AGC submitted a letter for the record, thanking the committee for beginning work on WRDA reauthorization and highlighting the importance of needed investment in our nation’s flood risk management, inland waterway, marine port and environmental restoration projects.