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Cash vs. Accrual Accounting: The Difference for Your Construction Business A successful, sustainable construction business is ultimately about cash management. Your company needs to know not just how much cash it has but when it has it, when it needs it and when to expect it. You also need to know how much tax agencies…

Vehicle Miles Traveled Tax Last Tuesday, February 2nd, the Senate confirmed Pete Buttigieg as transportation secretary.  The main source of federal money for highways and transit, the gasoline tax, has not been increased since 1993. Without additional revenue, the Highway Trust Fund will soon run out of money.  During his confirmation hearing and throughout his…

Defense Production Act – COVID-19 Tests Deployed President Biden signed the Defense Production Act (DPA) to contract with six diagnostics manufacturers in the coming weeks to rapidly produce inexpensive and reliable coronavirus tests for home and clinic use. The goal is to provide 61 million point-of-care or at-home tests by the end of this summer.   The…

CBO’s $15.00 Minimum Wage Report As President Biden attempts to increase the minimum wage to $15.00, it may be stymied by a new report from the non-partisan Congressional Budget Office (CBO), which stated that such an increase would boost jobless rolls by 1.4 million by 2025, even as 900,000 people get lifted out of poverty.…

How Reconciliation Works The Small Business Legislative Council provided the following historical synopsis of the budget reconciliation process.  There has been much discussion and speculation regarding whether the Democrats will try to pass parts of President Biden’s proposed COVID relief bill using a process known as reconciliation.  As we watch all this play out, we…

Sen. Shelby (R-AL) to Retire Sen. Shelby (R- AL) announced that he would not seek another term.  Shelby is completing his 6th term.  “During my time in the Senate, I have been given great opportunity, having chaired four committees: Appropriations, Rules, Banking, and Intelligence. In these positions of leadership, I have strived to influence legislation that will…

This Week in Congress The House and Senate were in session this week.  On Monday, a group of ten Senate Republicans met with President Biden to discuss a roughly $600 billion coronavirus stimulus package in an effort to forge a bipartisan path forward for relief efforts. Additionally, the Senate continued to hold confirmation hearings and…

Reverse Auctions: An Inappropriate Procurement Method for Design and Construction Services On Friday, February 5, 2021, ASA, along with the members of the Construction Industry Procurement Coalition (CIPC), submitted comments to the Reverse Auction Federal Acquisition Regulation (FAR) Request.  They claimed the following in their comments: Due to the complexities of design and construction projects,…

New ASA Platinum Sponsor AssuredPartners At AssuredPartners (AP) we understand that on any construction project there are a lot of moving parts with numerous risks and challenges. That is why we are collaborating with the American Subcontractors Association (ASA) to provide construction-specific expertise in identifying and mitigating construction risks. Our experienced AP team of Construction…

Upcoming Webinar: Maintaining a Healthy Margin In an Up or Down Market Join us on February 9th, 2021 at Noon Eastern for the upcoming complimentary ASA webinar, “Maintaining a Healthy Margin In an Up or Down Market”.  This webinar will feature a panel discussion regarding the below issues with ASA’s own industry leaders. In an Up Market: How…