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Houston-The Woodlands-Sugar Land and Odessa, Texas Have Worst 15-Month Construction Job Losses; Minneapolis-St. Paul-Bloomington, Minn.-Wis. and Fargo, N.D.-Minn. Top Lists of Metros with Job Gains

Filings Now Due on August 23, 2021

With COVID-19 restrictions lifting in the City of Philadelphia, GBCA’s Construction Leadership Council has come back together in-person! On June 10, 2021, the CLC hosted an in-person workshop and networking event at a local brewery. After 15 months of virtual meetings, virtual workshops, and virtual “meet-ups,” the CLC wanted an opportunity to rethink networking, and get a refresher on making business and industry connections. Matt Blank, Director of Business Development of Friedman LLP, spoke about building business through networking and relationships, as opposed to a hard sell. This approach to business development and relationship-building starts with a strong conversation.

The Securities and Exchange Commission (SEC) recently requested public input on company disclosure of information associated with Environmental, Social and Governance (ESG) and climate change risks, impacts, and opportunities. In response, 51����’s June 11 letter to agency offered key principles for the SEC to consider: 1) support of voluntary and flexible, market-based disclosures; 2) adherence to the Supreme Court’s “materiality” standard and existing rules; 3) base disclosures on sound data and a workable framework for companies of different sizes and industries; and 4) set boundaries on the scope of reporting and limits on legal liability.

The week of June 28, the House is set to vote on the INVEST in America Act, legislation to reauthorize the nation’s surface transportation programs. This legislation passed the House Transportation and Infrastructure Committee earlier in the month on a near party-line vote. In addition to the $547 billion included in the legislation for surface transportation programs, the package also includes two other bills to reauthorize the nation’s waste and drinking water programs. While 51���� is supportive of the House continuing the reauthorization process, we have reservations about some of the policies contained in the bill, such as a lack of environmental review and permitting reforms and a limitation on the ability to construct new highway capacity. As the legislative process moves forward, 51���� will continue to encourage House members to make necessary improvements to the bill that will address these policies concerns.

On June 23, a bipartisan group of senators announced an agreement on a $1.2 trillion infrastructure framework with the White House. The framework—found here —includes $579 billion in new spending to rebuild America’s roads and bridges, improve public transit systems, invest in broadband infrastructure, and upgrade our airports. While this plan does appear to have bipartisan support, the path forward remains unclear, as Speaker Pelosi announced that she would not move similar legislation in the House until the Senate passed both the bipartisan infrastructure bill and partisan reconciliation infrastructure bill. In addition, there are a significant amount of details that have yet to be determined.

The Small Business Administration (SBA) intends to withdraw the “Loan Necessity Questionnaire” that has heavily burdened and delayed all applications for forgiveness of Paycheck Protection Program (PPP) loans of $2 million or more. 51���� sued SBA last December for developing the form entirely in secret, and without public input, and for using the form to change the de facto requirements for the forgiveness of such loans. During lawsuit settlement negotiations, 51���� learned of SBA’s decision to withdraw the questionnaire. Recently, 51���� has also received an exceptionally large number of reports about SBA approving these loans for forgiveness. This is excellent news for the thousands of 51���� members who accepted such loans in good faith in order to keep their people working.

Learn more at July 20-22 virtual conference, free to 51���� members

Learn more at July 20-22 virtual conference, free to 51���� members