Tell Congress and President Trump to pass the $1.5 trillion infrastructure bill, the Moving Forward Act (H.R. 2) that provides resources to build roads and bridges, public transit, airports, schools, hospitals, affordable housing, water infrastructure, locks, dams, levees and more. With 1,187,000 construction workers unemployed, our elected leaders must act now to protect existing and create new construction jobs!
Due to the unprecedented impact of the pandemic, state and local governments face significant budget shortfalls that are putting immense pressure on public agencies to delay or cancel construction projects. This comes on top of many private owners, developers, and investors—facing vast uncertainty—drastically cutting back on future construction projects.
Bipartisan improvements are needed to address some of the underlying policies in H.R. 2. However, without passing legislation that provides robust levels of infrastructure investment, the construction industry could experience substantial market reductions, threatening the viability of thousands of construction firms and jeopardizing hundreds of thousands of construction jobs.
The declines in state tax collections are expected to well exceed the 11.6 percent drop experienced during the Great Recession, with some states anticipating declines of more than 20 percent. Meanwhile, 88 percent of cities expect a revenue shortfall this year. And, counties could lose $144 billion through fiscal year 2021. Similarly, devastating revenue losses in the hotel and lodging, retail and restaurant industries are leading to grim outlooks for private market construction.
In response to AGC surveys, more than two-thirds (69 percent) of contractors report having a project canceled or delayed since the start of the pandemic in early March. And, an increasing share of respondents report that projects they expected to start in June or later this year have been canceled.
Amid these dire public and private construction economic indicators, Congress and President Trump must enact a robust infrastructure package to combat the threat of more project delays, cancellations and, ultimately, construction firm closures and worker layoffs.
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