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AGC Pushes Back Against Fiscal Cliff

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AGC released two new reports detailing the threat of the fiscal cliff to the industry. First, AGC of America, working closely with the AGC of Washington and member firm Atkinson, held a Dec. 5 media event in Seattle, Wash. on the threat of the "Fiscal Cliff." While announcing that the metro area added more new construction jobs during the past year than most cities, AGC released a new report detailing how construction firms would be hurt by the fiscal cliff. On Dec. 7, AGC also released an analysis of federal data indicating that construction employment declined by 20,000 jobs in November while the industry’s unemployment rate hit 12.2 percent. The construction employment figures likely reflect the fact many contractors have already cut staff and delayed hiring new employees because of the threat of the "fiscal cliff," according to results of a survey of member firms released by the association. "It is discouraging that construction employment is still struggling after more three years of expansion in the overall economy," said Ken Simonson, the association’s chief economist. "As disappointing as these numbers are, they will only get worse if Congress and the White House allow huge tax increases and spending cuts to occur on January 1." Alongside the Dec. 7 release, AGC CEO Stephen Sandherr sent a letter to all members of Congress and to the president, urging them to enact legislation to avert the fiscal cliff.

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Associated General Contractors of America
2300 Wilson Blvd, Suite 300
Arlington, VA, USA
Ph: 703-548-3118 Fax: 703-837-5402