While the extension of the home buyers' tax credit and expansion of carryback of net operation losses will provide some help for the 1.6 million construction workers who lost their jobs since December 2007, AGC today called for additional measures to stimulate construction demand as new federal figures showed another 62,000 construction workers lost their jobs in October.

"The nation's economic troubles are forcing construction workers to shoulder a withering burden," said Stephen E. Sandherr, AGC's CEO. Helpful as the stimulus has been in saving some construction jobs, it is going to take more work to halt the devastating job losses that are wiping out millions of construction workers' families."

AGC was quoted in a November 6 Reuters article on construction job loss, as well as an ENR article.

For more information, contact Brian Turmail at (703) 837-5310 or turmailb@agc.org.

Congress this week passed legislation to expand the first-time home buyer tax credit and five-year carryback of net operating losses (NOL), two provisions AGC called for in Build Now for the Future: A Blueprint for Economic Growth.

The current $8,000 first-time-home-buyer credit is set to expire on November 30, 2009.  Congress voted to extend the credit for an additional 5 months and increase the income limits to qualify, as well as to offer a new $6,500 tax credit for existing home buyers.

The Recovery Act allowed businesses with gross receipts of $15 million or less that experienced net operating losses in 2008 to carry those losses back over the preceding five years.  The provision allows small businesses with deductions exceeding their income to get a refund for taxes paid in previous years.  The bill that the President is expected to sign shortly would expand the provision to allow all business to carryback net operating losses incurred in 2008 or 2009 over the preceding five years.

For more information, contact Karen Lapsevic at (202) 547-4733 or lapsevick@agc.org.

A new video advertisement from the Transportation Construction Coalition, co-chaired by AGC, highlights the findings of a new study that shows 22,000 Americans die each year on deficient roadways.

Watch the video here.

For more information, contact Brian Turmail at (703) 837-5310 or turmailb@agc.org.

A new ad campaign, launched as part of a broad business community effort with AGC's support, explains some of the economic challenges various proposed health care "reform" efforts pose for employers nationwide.

View the new advertisement here, and write to Congress using AGC's Legislative Action Center.

For more information, contact Brian Turmail at (703) 837-5310 or turmailb@agc.org.

AGC noted Monday that there is no sign of an economic recovery yet for the nation's construction industry after new federal figures showed private construction investments declined by 20.6 percent between September 2008 and September 2009.

Read AGC's press release here.  The news was covered by the Reno Gazette Journal and Building Design and Construction.

For more information, contact Brian Turmail at (703) 837-5310 or turmailb@agc.org.

Bob Schafer (right), vice president of Ranger Construction, talks with reporter John McCarthy from Florida Today following the event.

AGC and the Florida East Coast Chapter announced Friday that a $20.5 million stimulus-funded project to widen I-95 in Palm Bay, Fla., is helping member company Ranger Construction expand its payroll and retain dozens of employees facing layoffs.

The announcement was made the same day the federal government released its first comprehensive batch of reports detailing how many jobs have been created or saved by the stimulus so far.

Read AGC's press release here.  The news was covered by the local television stations and Florida Today.

For more information, contact Brian Turmail at (703) 873-5310 or turmailb@agc.org.