We at Buildertrend know the industry moves fast – and want to help you keep up. Because we also know a more informed construction team is a more successful and inspired one. That’s why we deliver the most newsworthy updates, all in one place. With “The Construction Beat,” check out what’s been happening around the industry – and why it matters to you.
This week, we’ve got updates for you on coronavirus construction impacts, tax news for the proposed infrastructure plan, a safety regulator eyed to lead OSHA, how contractors can adjust to the steel price crunch and more.
COVID-19 spike in Michigan extends construction rules
Confirmed COVID-19 cases have been spiking in Michigan this month, causing the state’s Occupational Safety and Health Administration to extend its emergency temporary standard to Oct. 14, 2021. Businesses that require in-person work, including construction firms, must have a written COVID-19 preparedness/response plan, provide proper training, use proper PPE, and notify workers on how to report symptoms or diagnoses of COVID-19.
Builders won’t see tax hike in Biden’s infrastructure plan, CPA says
Most contractors won’t pay more taxes under President Biden’s $2.3 trillion infrastructure proposal, according to a leading certified public accountant at Ernst & Young’s global construction and engineering practice. Instead, contractors may actually benefit from the infrastructure plan, the consultant said, because most U.S. construction firms are set up as “pass-through” entities and not subject to corporate taxes. A corporate tax rate increase to fund the infrastructure plan would have a limited impact on construction firms. Meanwhile, the projects created due to the plan would provide plenty of opportunities for construction firms in the coming years.
American Rescue Plan: What employers need to know
The American Rescue Plan became law on March 11, 2021, and it included a host of changes employers should know. The plan affects unemployment benefits, information on expanded FFCRA leave and COBRA subsidies.
Biden picks CA safety regulator to lead OSHA
President Joe Biden tapped California’s chief workplace safety regulator Douglas Parker to lead the federal OSHA. Parker, who heads the California Division of Occupational Safety and Health, oversaw the development and issuance of California’s emergency temporary COVID-19 standard. In his new role, Parker will be tasked with evaluating whether there is a need for a similar standard at a national level. Parker’s nomination is also consistent with a trend toward increased enforcement of employers by federal regulators, similar to the OSHA under the Obama Administration.
U.S. housing construction to continue growth into 2022
Statistical insights from the first quarter of 2021 show that residential housing continues to be a key market across the United States. Based on this data, Cumming Insights predicts the residential market will continue to grow well into 2022.
Bid tips, careful contracts can save builders as steel prices climb
As the worldwide economy begins to recover and steel demand increases, steel production is slow to returning to normal. The combination of increased demand and less production may lead to dramatic increases in steel prices. Contractors should look to these tips on bids, contracts and supply protection to reduce the impact rising steel prices may have on their business.
Don’t miss out on construction news
Be sure to follow us on Instagram, Facebook, Twitter and LinkedIn to see when “The Construction Beat” delivers more of the latest, need-to-know headlines. For additional business resources and tips, check out our resource library of articles, customer success stories and podcast episodes.
Staying on top of construction news is all about staying on top of what’s best for your business. Let Buildertrend help.
