Don’t miss part 2 of the Construction Financials Webinar Series on September 26th.

AGC of Illinois participated in a roundtable with members of Congress focused on various workforce issues, including apprenticeships and career and technical education, the impact of the 2017 Tax Cuts and Jobs Act on companies’ abilities to invest in their workforce, and more.

Average Construction Pay Hits $35.81 an Hour as Recently Released Survey Results Indicate Firms Would Likely Have Hired Even More Workers if they Could Find Enough Qualified People to Add to their Payrolls

Beginning on September 5, 2024, AGC will host a three-part webinar series on the basics of construction financials. Designed for professionals with little to no prior tax or accounting experience, the series will provide a foundational understanding of key financial statements: the balance sheet, income statement, and statement of cash flows. Later webinars will focus on fundamentals of construction taxes, and business operations such as identifying fraud, strategies to anticipate market changes, leveraging technology for efficiency, and creating a resilient infrastructure that adapts to future challenges.

AGC joined a U.S. Chamber of Commerce-led amicus brief asking the U.S. Supreme Court to review an appeals court decision that creates roadblocks for trade associations and businesses challenging illegal federal agency actions.

In May 2024, House Ways and Means Committee Chairman Jason Smith (R-Mo.), along with the Republican members of the Committee, created 10 "Republican Tax Teams" to explore different aspects of the 2017 Tax Cuts and Jobs Act (TCJA). Many elements of this legislation, which was the most comprehensive rewrite of the federal tax code in over 30 years, have either already expired, or will expire in 2025. Included in these expiring provisions are a number of provisions that are particularly important to the construction industry, including the ability to fully deduct the cost of new and used equipment in the year it is purchased ("full expensing"), the increased exemption level for the estate tax, and the so-called "qualified business income deduction," also known as the "section 199A deduction."