Blueprint to Revive the Nation’s Construction Industry
Ask Congress to support tax, trade, capital investment and regulatory policies that will boost construction investment, job creation and long-term economic growth
The Need
- America may be in a recession, but the construction industry is suffering a depression. The construction unemployment rate is 27.1 percent, nearly triple the national average, and 2 million workers are unemployed. At 8 percent of GDP, construction’s pains hurt the broader U.S. economy.
The Plan
- Rebuilding private construction is essential as it accounts for 70 percent of all construction activity. Tax credits and extensions will increase private capital for job creation and investment. And disincentives on global investments in U.S. commercial real estate need to be removed.
- Boosting investments in infrastructure will provide industry stability, economic efficiency. Revising restrictive policies and regulations will speed construction and ease costly delays.
The Cost vs. Return on Investment
- Boosting economic activity will raise tax revenue and offset some of the tax credit costs. Raising and modernizing user fees as well as expanding public-private partnerships will raise additional revenue for investment.
Step One:
