Since arriving in the United States the Coronavirus pandemic has taken a devastating toll on nearly every aspect of our economy. Industries such as construction have faced new hardships and challenges with workplace safety, material and supply chain logistics, labor shortages, communication and business development. As construction firms continue to weather the financial burdens of the economic downturn, the federal government has passed another stimulus bill ripe with infrastructure and construction spending.
In March 2021, President Joe Biden signed the American Rescue Plan Act into law intended to serve as the third federal stimulus package during COVID-19. Included in this new legislation is the appropriation of $3 billion for the development of public facilities, public services, business development, planning, technical assistance, training, and any other assistance to alleviate long-term economic deterioration and sudden and severe economic dislocation due to the pandemic.
So what does this mean for the construction industry?
Continue Reading What’s New in the World of Stimulus Relief: A Discussion of American Rescue Plan Act