November 2024 eBulletin

AGCVA members have been up to a lot in the last month!

We are thrilled to recognize these accomplishments and recognitions, and we encourage you to connect with your fellow members and extend your congratulations!

AGC previously reported about certain tax provisions, included in the 2017 Tax Cuts and Jobs Act (TCJA), that are important to the construction industry, which are set to expire. The past two weeks we have discussed the Section 199A “qualified business income deduction” and the ability of businesses to fully deduct the cost of equipment in the year that it is purchased. Today’s section will focus on construction tax accounting methods and the “small contractor exemption” from percentage of completion method of accounting.

With buildings contributing nearly 40% of global carbon emissions, pressure is mounting on construction companies to adopt environmentally responsible practices. This urgency comes not only from regulators but also from clients, who increasingly prioritize eco-friendly projects. As a result, industry leaders are calling for greater transparency from materials manufacturers to help meet ambitious sustainability goals.

 

While legal considerations are often the last thing on the minds of project owners and contractors during an emergency, construction industry stakeholders should bear in mind the impact of natural disasters on their legal rights, remedies and potential exposure to claims.

For all stakeholders, two of the most pressing considerations are: (1) what provisions in their contracts are impacted by a natural disaster and (2) do they have any potential exposure to price-gouging claims?

CONSTRUCTION EXECUTIVE

A second Donald Trump presidency will likely spell the death of OSHA’s recently published heat safety rule, but it won’t necessarily mean no standard will come to pass, experts told Construction Dive.

The agency published the proposed rule and began accepting public comments this summer. That time period will close on Dec. 30. Then it would take several months for OSHA to review all of the input, finalize the rule and put it into effect, Phillip Russell, OSHA and employment lawyer, litigator and advisor for Washington, D.C.-based firm Ogletree Deakins, told Construction Dive.

CONSTRUCTION DIVE

Gen Z is increasingly opting for trades over traditional degrees, driven by job stability, competitive wages and technological integration. To retain these workers, construction companies should offer clear career development, entrepreneurial pathways, tech-forward training, competitive pay and benefits that align with Gen Z values, writes Kit Dickinson from ADP.

FOR CONSTRUCTION PROS

Students, counselors and parents surveyed shared their perceptions on skilled trades versus college and military career paths as part of the SCC study. Here are some of the findings:

76% of all respondents agree that a career in the skilled trades can lead to entrepreneurial success.

Citing a lack of information about opportunities, only 15% of students surveyed were considering a technical/vocational school or apprenticeship post-high school.

A majority of parents (80.3%), counselors (91.3%) and students (92%) surveyed agree that skilled-trade workers are as important as first responders and service members.

69% of students said it is outdated to assume a four-year degree is the best pathway to success.

CONSTRUCTION EXECUTIVE

A recent study by J.J. Keller & Associates and the International Safety Equipment Association highlights significant confusion about head protection among US workers, contributing to improper use and increased risk of injury. The study found that 59% of respondents incorrectly believe climbing-style safety helmets offer more protection than hard hats, and 80% think only helmets provide impact resistance on all sides. The ISEA has launched an online resource to address these misconceptions and improve safety.

CONSTRUCTION DIVE

Safety is a critical issue in the construction industry. To prevent accidents, construction companies need to foster a culture of safety that empowers workers to identify and mitigate hazards, report incidents, and learn from mistakes. One way to achieve this is by implementing a safety mentor program.

AGC

This once-in-a-lifetime event will focus on the future of technology, our industry, and the transformative role of AI. From keynotes on emerging trends to thought-provoking discussions, this convention is your chance to shape the next century of construction.

But it’s not all work and no play! Network with:
👷 Young Leaders
👩‍🔧 Women in Construction
👷‍♂️ New Members

New activities await!
🏓 A high-energy pickleball tournament
🍸 An exclusive hidden speakeasy experience

Celebrate our shared past and create connections that will define our future. Let’s honor the last 100 years and imagine what the next 100 could bring!
📅 Save the date and secure your spot today. 

Here’s to a century of building together—and another century of innovation, community, and progress!