News from associated
builders and contractors

Every four years, Americans get the chance to help determine the nation’s direction by casting their vote in the general election. As we anticipate a change in presidential administrations, what should construction executives be keeping their eyes on?

Interest rates, the strength of the American dollar and debt: This is a macro concern on which policy trajectory will have an impact, creating significant headwinds or tailwinds upstream to the construction industry.

Changes in the corporate tax rate and for higher-income earners.

Preservation of worker rights to freely associate with a union or not, choose which employer to work for or not, or to work independently versus start their own company.

Fair and open competition for all—the lifeblood of innovation in this country. Watch for legislation and executive action which prohibits the government from “mandating or prohibiting union or non-union” affiliated companies from competing on government-funded, subsidized or tax credit-incentivized construction work.

Tariffs can be useful against foreign supply-chain bad actors subsidizing lower quality products. The challenge is successfully targeting without triggering unintended consequences. Look for the details of when tariffs start and stop in the supply chain.

Immigration reform: Eliminating “comprehensive” will be key to getting anything accomplished. Focus on specific opportunities. Look for a new market-based merit visa system to be introduced in congress.

Upskilling the workforce: If we want to bend the curve on what seems to be a perpetual workforce shortage, the key will be support for “all-of-the-above” apprenticeship programs and industry-driven apprenticeship ratios.

Artificial intelligence and cybersecurity will be a significant variable in terms of construction productivity. Construction executives must have a thoughtful plan that considers both the upside and the risks and should budget a significant increase in expenditure in this area.