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Politicians debate effect of stimulus on construction

Tuesday, February 10, 2009

It's unclear just how the economic stimulus package will affect construction
It's unclear just how the economic stimulus package will affect construction

By passing its version of the economic stimulus package yesterday, the U.S. Senate opened up billions of dollars that are likely to go to infrastructure projects around the country which many in the industry hope will change the downward trend.

The White House expects that the stimulus bill will create some 675,000 construction jobs, according to CNN.

However, before the final language of the bill becomes law the House and Senate must compromise on aspects of the funding, which may mean less money for the construction industry.

A compromise being pushed by Republican senators Susan Collins of Maine and Ben Nelson of Nebraska would take out $20 billion in school construction projects which were included in the first draft of the bill.

The Senate and House bills do differ slightly in terms of what funding would go to construction projects. The Senate's $838 billion bill would involve $16 billion for school construction, while the House's $819 billion bill involves $358 billion on emergency spending on construction and other investment programs aimed at job creation.ADNFCR-2034-ID-19019127-ADNFCR

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