Author: clara.kinney@agc.org
President Donald Trump has announced his nomination of Kevin Warsh to succeed Jerome Powell as chair of the Federal Reserve when Powell’s term ends in May 2026. Warsh previously served on the Federal Reserve’s Board of Governors from 2006 to 2011 and has recently emphasized policy approaches to balance sheets and inflation risks that differ from current Fed leadership. Why the Federal Reserve Chair Matters to Construction Federal Reserve leadership influences interest rates, credit conditions, and construction investment, while also shaping expectations around inflation and balance-sheet policy that affect long-term yields and lending standards. These policy signals flow through the…
On February 3rd, the House of Representatives passed, and President Trump signed into law the Consolidated Appropriations Act. This came after a brief, partial government shutdown due to Congress missing the January 30th deadline. The Consolidated Appropriations Act of 2026, or H.R. 7148, includes funding for programs critical to construction at the Departments of Defense, Labor, Transportation, and Housing and Urban Development. Because of the importance to construction, AGC issued a key vote urging lawmakers to support the legislation. The funding provided by this legislation will ensure contractors can help rebuild our nation’s infrastructure, including roads, bridges, airports, transit systems,…
The Department of Homeland Security (DHS) and Department of Labor (DOL) announced that they will make an additional 64,716 H-2B temporary nonagricultural worker visas available for Fiscal Year 2026. All of these supplemental visas will be available only to those American businesses that are suffering or will suffer impending irreparable harm, i.e., those facing permanent and severe financial loss, as attested by the employer. These supplemental visas will be distributed in three allocations based on the petitioner’s start date of need through the end of the fiscal year. The H-2B program allows U.S. employers who meet specific regulatory requirements to…
In Part 1 of AGC’s Road to Reauthorization series, the focus was on the long-term solvency of the Highway Trust Fund and the need for a sustainable funding foundation. Equally important, however, is how those federal dollars are structured and delivered once they reach states and project sponsors. The balance between formula and discretionary funding will play a major role in determining how quickly and effectively projects move forward. Contractors and project owners know that transportation needs vary widely from state to state and community to community. Prescriptive, one-size-fits-all solutions often fail to reflect local conditions, yet contractors are frequently…
In the last few years, the Department of Defense (DoD) has proposed and released regulations that require Cybersecurity Maturity Model Certification (CMMC) compliance. For construction contractors working on DoD projects, compliance with the CMMC presents significant challenges. The Latest Rule: On Sept. 10, the Department of Defense (DoD) released the final regulation that requires Cybersecurity Maturity Model Certification (CMMC) compliance for every DoD prime and subcontractor. As of November 10, 2025, all DoD solicitations must include CMMC Level 1 and Level 2 Self-Assessment requirements. Most AGC members will fall under Level 1 or 2, and contractors should expect to see the CMMC clause in…
FHWA has released an updated Questions & Answers document explaining how the agency is implementing its Manufactured Products Final Rule, issued January 14, 2025 which began the phase out of its longstanding general waiver on manufactured products under the Buy America Act. As a reminder, the phase out began on October 1, 2025, where manufactured products must meet a “final assembly” standard (i.e., be “manufactured in the United States”), and will complete phase out on October 1, 2026, when manufactured products will need to meet final assembly requirements and exceed 55% domestic components by cost. The Q&A focuses heavily on…
Since last week, negotiations over funding the federal government have hit a new hurdle, funding for the Department of Homeland Security (DHS), specifically Immigration and Customs Enforcement (ICE). Specifically, Senate Democrats are now insisting that funding for DHS be stripped out of the larger Consolidated Appropriations package and considered separately. The challenge both sides are up against is that current funding expires on January 30th, and the House of Representatives is not in session this week. This means any changes to the package would have to go through the House again, in which case it would almost ensure a government…
As Congress begins work on the next surface transportation reauthorization bill, stabilizing the Highway Trust Fund (HTF) remains one of AGC’s top priorities. Contractors rely on predictable federal funding to plan work, invest in equipment, and maintain a skilled workforce. As previously reported, current authorization under the Infrastructure Investment and Jobs Act (IIJA) set to expire on September 30, 2026, the need for a sustainable HTF has become increasingly urgent. The core challenge is that HTF revenues have not kept pace with today’s transportation system. In fact, federal gas and diesel taxes have not been adjusted since 1993, even as…
Filing season is always complicated for construction companies, multiple entities, multi-state work, long-duration projects, and year-end equipment decisions that can swing taxable income. This year, make sure your tax team has your full picture early by attending the Beyond the Basics: The Newest Tax Developments and Strategies for Contractors and Their Advisorswebinar on January 27 as the best single reference for what changed and what to watch when preparing. The webinar will go over all of the latest developments as the One Big Beautiful Bill’s (OBBBA) implementation process takes place. A big OBBBA item with real filing-season implications is the…
AGC has joined a large coalition of national and state trade associations in a January 20, 2026 letter to Treasury Secretary Scott Bessent urging the Department to immediately purge the Corporate Transparency Act (CTA) database of beneficial ownership information (BOI) submitted by domestic entities that are no longer required to file, and to move quickly to finalize the rule exempting U.S. businesses from the reporting requirement. The coalition’s message is straightforward: millions of law-abiding small businesses were swept into a reporting regime aimed at combatting illicit finance, and many complied before Treasury narrowed CTA’s scope. The letter notes that sensitive…