HOUSE VOTES on DEATH TAX ELIMINATION NEXT WEEK!

On Friday of next week, the House of Representatives will consider H.R. 8, legislation to gradually phase down the death tax with full elimination coming in 2010. This bill has 241 cosponsors and is expected to be approved by the House. The bill also changes the unified credit to a true exemption (thereby lowering the initial death tax rate from 37% to 18%). For inherited assets subsequently sold, the bill eliminates the step up in basis for all but $1.3 million in inherited assets (spouses can receive a step up for an additional $3 million in assets for a total of $4.3 million.) We still need your grassroots call and letters to your Representatives! Let them know how important this bill is to your construction company. You can download sample letters by clicking here or by calling Phil Thoden with AGC at 703.837.5364. Tomorrow, AGC is holding a death tax press briefing at our Capitol Hill townhouse. Also this week, AGC sent each Representative a toy model of construction equipment to illustrate that the capital investment required of construction companies makes them especially vulnerable to the death tax. 

Senate Appropriations Committee Considers Shifting Highway Funds To Amtrak: The Senate Appropriations Committee is considering including a provision in the FY 2001 Transportation Appropriations Bill that makes Amtrak eligible for highway funds. This proposal was rejected in the TEA-21 negotiations. AGC is aggressively working to oppose the inclusion of this provision. Historically, however, the Senate has supported allowing state the option of spending highway funds on Amtrak. The bill is likely to be considered in subcommittee June 13.

Supreme Court Expands Review of Air Case: The Supreme Court announced that in addition to considering the ability of the Environmental Protection Agency (EPA) to mandate stringent air quality standards, the court will also review the cost benefit argument rejected by the lower court. In the case, now entitled Browner v. American Trucking Association (ATA), an argument was put forward by ATA that EPA should have considered the cost and economic burden of the new particulate matter and ozone standards on small business. The lower court rejected this argument stating the Clean Air Act does not require a cost benefit analysis. The court may be looking to overturn this ruling thereby requiring EPA to use the Regulatory Flexibility Act and the Small Business Regulatory Enforcement and Fairness (SBREFA) Act to say that EPA should be examining the economic impact of its regulatory actions. AGC has consistently urge cost benefit analysis of environmental regulation.

AGC Organizes Construction Industry's Opposition to Proposed Hours-of-Service Regulations: This week, AGC convened representatives from the construction industry to discuss the changes DOT has proposed in its new proposed Hours-of-Service regulations. AGC's task force expressed disdain for the new regulations and AGC is working to kill or at least significantly modify the regulations. Other members of the industry echoed AGC's sentiments. Toward that end, AGC is coordinating our message with the rest of the industry, working with Congressional allies to cut-off funding for the implementation of the regulations, testifying before the Federal Motor Carrier Safety Administration (FMCSA), submitting detailed comments to the FMCSA, and encouraging AGC members to testify at listening sessions around the country and submitting comments to the FMCSA. It is imperative that the construction industry be a loud and consistent voice opposing these proposed regulations. AGC is preparing comments that will be useful for you when you testify and in your written submissions. The comments will be sent to AGC chapters and be available on our website at www.agc.org. The following are the scheduled listening sessions: May 31 and June 1, Washington, D.C.-DOT Building; June 7-8, Ontario, California-Ontario Convention Center; June 12-13, Denver, Colorado-Jefferson County fairgrounds; June 15-16, Kansas City, Missouri-Wagstaff Theatre, American Royal Center Complex; June 20-21, Indianapolis, Indiana-Union federal southwest Pavilion, Indiana fairgrounds; June 26-27, Hartford, Connecticut-Quality Inn Conference Center; June 29-30, Atlanta, Georgia-Atlanta South Truck Stop; July 7-8, Washington, D.C.


Utilize Congress at Your Fingertips Located in the Member’s Only Section at http://www.agc.org/ to contact your Congressional Representatives.