The construction industry should get a substantial lift in coming months, thanks to a newly enacted $1.14-trillion government-wide fiscal year 2016 spending measure that boosts most major federal construction accounts, with General Services Administration (GSA) and Dept. of Veterans Affairs (VA) programs scoring exceptional increases. But there were some funding cuts, such as in Environmental Protection Agency (EPA) water infrastructure, which was pared slightly.
The giant appropriations bill was part of a package that also included extensions for a long list of tax incentives for individuals and businesses, including construction firms, with some items extended permanently. The “extenders” bill would cost the Treasury $622 billion over 10 years, the congressional Joint Committee on Taxation estimates.
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