The American Institute of Architects (AIA) has issued a statement in reaction to the House and Senate votes approving the “Fiscal Cliff” deal negotiated by Congressional leaders earlier this week.
“On the plus side, the agreement prevents a tax increase on millions of Americans and small businesses,” says AIA president Mickey Jacob. “It also extends several business tax incentives that help create jobs and promote design and construction, including for schools and energy-efficient homes.”
He adds, “The agreement also delays – but for only for two months – the job-killing, indiscriminate federal spending cuts caused by budget sequestration. This is good news for the economy and for the design and construction sector if Congress and the White House can come up with a more cohesive way to cut wasteful spending – and continue to make smart investments in the nation’s infrastructure.
“So, our nation has backed away from the Fiscal Cliff, but we’re still much too close to it. The element of uncertainty left by this bruising political battle will plague our economy for months and years to come. And that will only delay economic recovery and impair the ability for business to grow, prosper and create jobs,” continues Jacobs.
What do you think about this week’s congressional deal? How do you think it will affect the construction industry? Please email email@example.com.