CONGRESSIONAL TAX REFORM PROPOSAL IS AN IMPORTANT STEP IN PROCESS TO LOWER, MORE EQUITABLE TAX RATES FOR CONSTRUCTION EMPLOYERS

Construction Official Says Proposal Provides a Much-Needed Framework for Reducing Tax Burden on Construction Employers, Urges Congress to Include Infrastructure Funding as Well

The chief executive officer of the Associated General Contractors of America, Stephen E. Sandherr, released the following statement in reaction to the release today of a Congressional proposal to reform the federal tax code:

“The tax proposal released today provides a much-needed framework that will provoke important debate about the best way to improve the tax environment for employers and workers. As Congress and the Trump administration work to further refine today’s proposal, we will continue our vigorous advocacy work to ensure the measure benefits construction employers of all types and sizes.  In particular, we will work to ensure that pass-through businesses, including the majority of construction firms, also benefit from tax reform. Any failure to address pass-through businesses in the final plan would mean many construction firms would not benefit.

“We will also continue to work with members of Congress to advocate for the inclusion of new infrastructure funding as part of the final tax reform measure. Tax reform provides an excellent opportunity for the president to deliver on his promise of rebuilding America’s aging and over-burdened infrastructure.  And we will work to make sure the final proposal continues to promote public and private-sector investments in infrastructure through direct federal funding, municipal bonds (including private activity bonds) and public-private partnerships, for example.”

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