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Cuts to Federal Construction Programs Will Exceed $4 Billion

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More than $4 billion in federal construction projects would be eliminated under mandatory spending cuts that took effect March 1, according to Engineering News-Record's review of the Office of Management and Budget report. "These indiscriminate cuts run the risk of undermining the fragile recovery in demand many contractors are just now beginning to experience," said Stephen Sandherr, CEO of the Associated General Contractors of America. "It is hard to encourage major new private sector investments in capital projects when Washington can't even find a way to avoid fiscal crises of its own making."

Source: AGC SmartBrief e-newsletter for March 4 which contained the March 2 article from Engineering News-Record.

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