Congress Approves Billions of Dollars in Construction Funding

Congress passed a Fiscal Year (FY) 2019 appropriations bill – which the president is expected to sign into law – that increases military construction spending by 2.4 percent, and boosts Corps of Engineers funding 11 percent, the most Congress has ever appropriated to the agency, according to the Associated General Contractors of America (AGC).

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Construction Spending Dips in June; Highways Up Year-to-Date

The U.S. Census Bureau announced that construction spending during June 2018 was estimated at a seasonally adjusted annual rate of $1,317.2 billion, 1.1 percent (±1.0 percent) below the revised May estimate of $1,332.2 billion. The June figure is 6.1 percent (±1.6 percent) above the June 2017estimate of $1,241.3 billion. 

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Construction Costs Surge in April on Proposed Tariffs

The cost of goods used in construction jumped in April at the fastest year-over-year rate since 2011, with ongoing increases for a wide range of building materials, including many that are subject to proposed tariffs that could drive prices still higher and cause scarcities, according to an analysis by the Associated General Contractors of America of Labor Department data. Association…

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Construction Costs Rise in February

Construction costs escalated in February, driven by price increases for a wide range of building materials including steel and aluminum, according to an analysis by the Associated General Contractors of America of Labor Department data. Association officials warned that newly imposed tariffs on those metals will create steeper increases that will squeeze budgets for infrastructure, school districts and commercial projects.

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Industry Associations Blast Steel Tariffs

President Trump imposed tariffs on imported steel and aluminum in a move that has been criticized by manufacturing businesses, industry groups and many in Congress. The tariffs, designed to favor U.S. industries over their foreign competitors, contain an initial exemption for Canada and Mexico. The move is seen as a negotiating tactic as the administration seeks broader trade concessions from…

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