Economic Stimulus Package
National FCA Calls for Economic Stimulus to Support Construction
National FCA joined other trade associations in calling on lawmakers to use part of the proposed stimulus package to fund construction and infrastructure projects. National FCA also joined the associations in a separate request for tax incentives, such as a repeal of the three percent tax withholding on many government projects.
President-elect Obama is calling for a multi-billion dollar stimulus package designed to rejuvenate the U.S. economy.
In two letters to the Obama administration and the 111th Congress, National FCA calls on lawmakers to include construction in the infrastructure portion of the package. The second letter calls for tax incentives. “We ask that you not overlook building construction, alterations, and repairs in the definition of “infrastructure.”
National FCA’s call gained the support of its labor partner, the International Union of Painters and Allied Trades. General President James Williams signed the letters, becoming one of the first union leaders to join in the call.
National FCA Chairman Ed Smith said having the support of the entire construction community is critical to the alleviating some of the economic stress in the country. He said he was pleased to bring the support of the IUPAT.
“We also support the investment in infrastructure, which we believe needs to be a national priority for the safety and well being of all Americans. This needs to be a national priority,” Smith said. “We encourage lawmakers to look for projects that provide long-term community benefits, can be started quickly and keep good jobs in the community.”
The construction industry normally employs more than 7 million people and brings more than $1 trillion in economic activity each year. However, job losses in construction outpaced those in the general population. In November, specialty construction trades lost 50,000 jobs according to figures from the U.S. Bureau of Labor Statistics.
