The American Recovery and Reinvestment Act of 2009 (ARRA), provides the State Departments of Transportation and Federal Lands Agencies with $27.5 billion for highway infrastructure investment.
With this money there also comes an increased level of reporting, which we will be adding to Certified Payroll Solution to better and more fully serve the needs of our customers who may be working on these types of construction projects. Continue reading
The Davis-Bacon Act of 1931 established into law the requirement for paying "prevailing wages"; a specific rate of pay plus fringe benefits for each trade/work classification that has been set by the Department of Labor - Wage and Hour Division, on federal or federally-assisted construction projects exceeding a value of $2,000.00. Construction includes the alteration and/or repair, including painting, decorating, plumbing, electrical, etc., of public buildings or public works - including roads and bridges. Continue reading
Hundreds of thousands of construction workers hired to work on economic-stimulus projects will receive prevailing wages under new federal guidelines. Transportation Secretary Ray LaHood will prepare the guidelines, which will expand the 1931 Davis-Bacon Act and establish a floor for wages paid for the more than 678,000 construction jobs created by 2010. Continue reading
The economic-stimulus package requires that workers on projects funded by the package receive "prevailing wages." Prevailing wages are similar to union wages and are typically higher than average wages in a county. The provision concerns some contractors who say it will drive up the cost of stimulus projects. However, labor groups support the prevailing wage provision and say higher wages will help the economy. Prevailing wage provisions require the submission of certified payroll reports. Continue reading
Almost 20% of the $787 billion American Recovery and Reinvestment Act will be spent on improving the nation's infrastructure, this means that their will be more and more "public works" construction projects that require certified payroll. Continue reading
On February 17th, 2009, President Obama signed a $787 billion economic stimulus plan known as the American Recovery and Reinvestment Act of 2009. This plan is designed to spur economic growth in the U.S. - with short term and long term impacts.
This economic stimulus plan means that changes are coming for your small business - changes that can impact your payroll and your taxes. If you are a customer of an Intuit payroll service, they can help. Continue reading
The current economic situation has dealt a serious blow to both homebuilders and commercial contractors. Like all downturns to the economy, this too shall pass; but, experts predict that it will take quite awhile for everything to stabilize.
However, all is not lost.....
Public Works construction could thrive. If you listen to the news and read construction trade newsletters you hear that part of President-Elect Obama’s economic stimulus plan includes investing in our country’s infrastructure; which means public works construction projects. Continue reading
