AGC Delivers Fiscal Cliff Concerns to President and Congressional Leaders

With just over two weeks before we go over the fiscal cliff, Congressional leaders and the White House appear no closer to reaching a deal.  Although House Speaker John Boehner and President Obama met earlier this week – and plan to meet again this evening –  members of Congress are now preparing to work up to – and possibly after – Christmas in an attempt to resolve the outstanding fiscal cliff issues prior to Jan. 1, 2012.  Failure to address the fiscal cliff is already having an impact on the construction industry, according the nearly 600 AGC members who responded to our nationwide survey.  AGC shared the results of this survey and our concerns about the impact of the fiscal cliff and the potential of a $6 billion reduction in construction spending due to sequestration in a letter to President Obama and House and Senate Congressional leaders.  The letter urges action on a tax and spending reform package before the end of 2012. If an agreement cannot be reached, AGC encourages Congress and the administration to provide the construction industry with a small level of certainty by extending all tax policies for one year and delay sequestration cuts. AGC will continue to communicate the impact of congressional and presidential inaction on our looming fiscal crisis. For more information, please contact Jeff Shoaf at (202) 547-3350 or shoafj@agc.org.