Beginning on September 5, 2024, Íæż½ã½ã will host a three-part webinar series on the basics of construction financials. Designed for professionals with little to no prior tax or accounting experience, the series will provide a foundational understanding of key financial statements: the balance sheet, income statement, and statement of cash flows. Later webinars will focus on fundamentals of construction taxes, and business operations such as identifying fraud, strategies to anticipate market changes, leveraging technology for efficiency, and creating a resilient infrastructure that adapts to future challenges.
On August 22, the U.S. Department of Labor (DOL) officially filed a notice of their intent to appeal the recent motion for a nationwide preliminary injunction blocking the provisions being challenged by Íæż½ã½ã to the DOL’s expansion of Davis Bacon coverage. Pending any further action in court, the nationwide injunction remains in place. Íæż½ã½ã originally filed a narrowly tailored lawsuit in federal court against the U.S. Department of Labor, challenging the agency’s unlawful expansion of Davis Bacon coverage to:
Íæż½ã½ã’s volunteers are valued members who work to address industry issues, exchange ideas, and lead change to advance the industry. You and your colleagues are invited to take the next step in your Íæż½ã½ã journey and join the volunteer pool. Many opportunities are available to get engaged and make a difference. Several committees are looking for committed volunteers, but there are also many short-term opportunities available. Complete or update the volunteer tab in your member profile by October 1st to let us know what you are interested in. This is a great way to advance Íæż½ã½ã, contribute to the construction industry, and support the personal growth of you and your team. If you’re interested but short on time, please share this opportunity with colleagues who may want to get more involved. Visit www.agc.org/volunteer for details on volunteer roles and responsibilities.
We're excited to announce that the agenda for Construction HR & Workforce 2024 is now live! Get ready to explore a dynamic lineup of sessions designed to equip you with the latest insights, strategies, and tools to drive success in your organization.
The Rule Also Rescinds Other Representation-Case Protections
Íæż½ã½ã joined a U.S. Chamber of Commerce-led amicus brief asking the U.S. Supreme Court to review an appeals court decision that creates roadblocks for trade associations and businesses challenging illegal federal agency actions.
The Proposed Standard. On July 2, the Occupational Safety and Health Administration (OSHA) published their proposed standard addressing heat illness in outdoor and indoor settings. The proposal codifies many of the heat safety practices the construction industry already uses to protect workers. Those measures, which broadly fall into the categories of water, rest, shade, and training, were crafted by contractors as part of their general duty obligations to protect workers from hazards associated with high temperatures. However, OSHA has not addressed the disparate impacts of heat in various parts of the country. The impacts on worker safety of a 90°F day in Mississippi are different than a 90°F day in Alaska. The final version of the rule should take into account regional differences in weather patterns.
In May 2024, House Ways and Means Committee Chairman Jason Smith (R-Mo.), along with the Republican members of the Committee, created 10 "Republican Tax Teams" to explore different aspects of the 2017 Tax Cuts and Jobs Act (TCJA). Many elements of this legislation, which was the most comprehensive rewrite of the federal tax code in over 30 years, have either already expired, or will expire in 2025. Included in these expiring provisions are a number of provisions that are particularly important to the construction industry, including the ability to fully deduct the cost of new and used equipment in the year it is purchased ("full expensing"), the increased exemption level for the estate tax, and the so-called "qualified business income deduction," also known as the "section 199A deduction."