ABC also joined a coalition of organizations in a letter to the House Ways and Means Committee opposing efforts to cap the Section 1031 like-kind exchange tax provision currently in law. ABC also plans to provide committees with several other letters highlighting concerns with the reconciliation package and its potential to impact the construction industry.
Today, the Ways and Means Committee released a significant portion of the Democrats’ $3.5 trillion reconciliation bill dealing with universal paid family and medical leave, retirement, childcare, Trade Adjustment Assistance, Medicare and more and posted the legislation on its website here. The Ways and Means Committee markup is scheduled to begin Thursday at 10 a.m. to address these provisions while the tax portions of the bill will be considered next week.
CAMMU Press Release on Steel Prices:
Last week, the Coalition of American Metal Manufacturers and Users (CAMMU), of which ABC is a member, released a statement calling for the complete elimination of the Section 232 tariffs. The release highlights the record high steel prices for U.S. manufacturers and notes the “shortage of steel in the United States that will only worsen if and when Congress passes an infrastructure bill,” and calls on the Biden Administration to eliminate the Section 232 tariffs. The release also included the CAMMU steel price chart can be found here.