Construction Industry Pushes Back Against GOP Tax Reform Provisions

The House Republican tax bill would eliminate tax breaks for a popular funding mechanism used by public-private partnerships (P3s) and put an end to electric vehicle tax credits, according to The Hill.

The GOP measure would do away with the tax-exempt benefit of private-activity bonds (PAB’s), which many private companies have used in the past to finance infrastructure projects, and would ax a $7,500 tax credit for those who buy electric and plug-in hybrid vehicles. Republicans have also proposed a 25% pass-through entity tax rate in the Tax Cuts and Jobs Act, but make some professional services like engineering and consulting ineligible, according to Engineering News-Record…read more