Senate Considers Tax
Cuts!
At press time, the Senate is considering a $792
billion tax cut bill. Included in this bill is a modest
death tax relief provision that lowers the top rate to
50% in 2001, replaces the unified credit with a true
exemption in 2004 and then increases this exemption to
$1.5 million in 2007. An amendment by Phil Gramm (R-TX)
that included several tax cuts including death tax
repeal was defeated this afternoon. Sen. Jon Kyl (R-AZ)
is expected to offer an amendment solely to repeal the
death tax later this evening. The Kyl amendment, like
the Gramm amendment, will be subject to a budgetary
"point of order" because it would reduce revenues beyond
a 10-year window. 60 Senators must then vote to waive
the point of order. Once the full bill is passed by the
Senate, GOP leaders are determined to resolve
differences between it and the House tax bill before
August 6th.
House of Representatives Pass Regulatory
Right to Know: By a margin of 254-157, the House
passed the Regulatory Right to Know Act, H.R. 1074. It
will require a peer review and cost benefit analysis of
regulations. The Senate companion (S. 59) is awaiting
Senate floor consideration.
Small Business Administration Proposes New
Construction Size Standards: On July 26, SBA
proposed an increase to the construction industry size
standards. Currently, the industry' s small business
standard is $17 million. This standard has not been
changed since 1984. The new standards would increase
General Construction (Major Group 15) to $25 million,
Heavy Construction (Major Group 16) $25
million,Construction . Special Trade Contractors (Major
Group 17) $10.5 million,and Dredging (a subpart of 16)
$20. AGC has supported an increase in the Size standard
since 1996. AGC also supports HR 234 mandating an
increase and review of the size standards.
EPA Restrictions Contained in
Appropriations Measures: Rep. Knollenberg (R-MI)
restricted EPA spending on programs that could implement
the climate change treaty. the Kyoto Protocol. Rep.
Mollohan (D-WV) is expected to propose appropriations
language preventing EPA from requiring that twenty-two
states submit plans to reduce nitrogen oxide (NOx)
emissions to the EPA. EPA contends that NOx emissions
emanating from coal fired electricity plants and other
sources in the mid-west cause an ozone problem in the
northeast.
Miller Act Legislation Expected Next
Week: The Construction Industry Payment Protection
Act of 1999, H.R. 1219 is expected to be voted on
Monday. The legislation would make the payment bond
equal to the performance bond, expand notice requriments
under the Miller Act to include any third-party delivery
system that provides written receipt, and prevent waiver
of rights before commencing work.
WRDA 1999 Conference Begins: Today,
the House and Senate conferees to the Water Resources
Development Act for 1999 (WRDA) met for the first time
to reconcile the differences. They hope to resolve all
differences by the end of next week, when Congress
leaves for the August recess. WRDA 1999 authorizes
programs, projects and policies of the Army Corps of
Engineers and includes over $2 billion in funds for
water projects.
Senate May Pass Short-Term Extension of
AIP: Since the Senate has been unable to pass a
multi-year reauthorization of the Airport Improvement
Program (AIP), they are now considering another
short-term extension. Funding for AIP expires on August
6. The House has passed its multi-year bill, H.R. 1000
(AIR-21). The House opposes another extension because
they want to keep the pressure on to pass a multi-year
bill this year.
Washington: The House Education and
the Workforce Committee today passed two labor bills
(H.R. 1441, the Truth in Employment Act passed H.R.
1987, the Fair Access to Indemnity and Reimbursement
(FAIR) Act,) aimed at stopping "salting" abuses and at
providing regulatory relief for businesses from
unsuccessful federal government prosecution.
ERGONMICS VOTE NEXT WEEK: The US House
of Representatives is poised to consider the Workforce
Preservation Act (H.R. 987) next week. Some sources have
said that the vote may come as early as Tuesday August
3. This bill is a very high priority for AGC and all
members are urged to contact their Representative at
(202) 225-3121 to urge them to vote in favor of H.R.
987.