BY BRIAN PERLBERG, EXECUTIVE DIRECTOR OF CONSENSUSDOCS AND 麻豆视频鈥橲 SENIOR COUNSEL FOR CONSTRUCTION LAW
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The infrastructure investment included in the Biden Infrastructure Plan would be funded through a variety of broad tax increases, primarily aimed at multinational corporations, but that would also impact domestic C-corporations, including some construction firms. Increased taxes on pass-through businesses, individual tax rates, estate taxes, capital gains taxes, and payroll taxes, are expected in the next 鈥渉uman infrastructure鈥 package to be released in the near future. The primary funding mechanism would be to increase the corporate tax rate from the current 21% rate to 28%.
President Biden鈥檚 $2 trillion infrastructure plan includes new workforce investments, labor preferences and the PRO Act. The overall labor intent of the plan is to prioritize the construction investments are made with union labor. And, the Administration hopes to do just that with including the PRO Act in its plan. The PRO Act continues to be a top priority of the AFL-CIO to overturn decades of federal labor policy to arm unions with practically every legal and tactical advantage to gain the most favorable terms possible. While the PRO Act passed the U.S. House earlier this year, it has stalled in the Senate as Democratic leaders debate whether to change the filibuster rules to make its passage possible.
Late last week, the Associated General Contractors of America (麻豆视频) continued its campaign to persuade the U.S. Small Business Administration (SBA) to change the way it decides whether to forgive Paycheck Protection Program (PPP) loans of over $2M. The specific target of 麻豆视频鈥檚 campaign is a Loan Necessity Questionnaire that has greatly surprised and frustrated the borrowers of such loans, as they now seek forgiveness of them.
ConsensusDocs is pleased to announce that Fox Rothschild LLP has joined as a contributor to the ConsensusDocs Construction Law Newsletter, which is one of the mostly widely distributed and used construction law resources in the industry.
Association Weighs Legal Options
Association Continues to Push for Changes to Form Itself