Related Links: NASBO State Expenditure Report for FY 2014 (see chapter 8 for capital spending) States hiked their total spending on infrastructure, equipment and other capital-budget items by an estimated 2.4% in fiscal year 2014, to a total of $91.8 billion, a new National Association of State Budget Officers report says.NASBO’s latest annual state expenditures report, released on Nov. 20, says that transportation accounted for the largest share of overall FY 14 capital spending, with an estimated $56.1 billion, up 3.7% from 2013. Brian Sigritz, NASBO director of fiscal studies, says, “We saw a handful of states that increased gas

Related Links: PBGC FY 2014 annual report Officials Hope Multiemployer Pension Changes Will Be Enacted This Year The federal Pension Benefit Guaranty Corp. has warned that its program to help financially troubled multi-employer plans has weakened dramatically.Multi-employer plans are important in unionized construction, covering nearly four million workers and retirees.In its latest annual report, released on Nov. 17, PBGC said its multi-employer program deficit had widened to a record $42.4 billion in fiscal year 2014, which ended on Sept. 30, from $8.3 billion in 2013.The main reason for the bigger deficit is that more multi-employer plans are expected to become

Related Links: Statement by Australian prime minister and treasurer on G-20 infrastructure actions G-20 backgrounder on infrastructure initiative and hub In another sign of increased global interest in infrastructure funding, a group of world leaders plan to start a worldwide program to draw more private financing for highways, bridges, water facilities and other projects.The Global Infrastructure Initiative, launched during the G-20 Summit on Nov. 15-16 in Brisbane, Australia, also will include a new Global Infrastructure Hub to facilitate and coordinate the effort.The Group of 20, or G-20, includes 19 countries and the European Union.The hub, announced at the summit, is

Related Links: White House summary of U.S. and China plans Sen. McConnell statement on emissions plan President Obama and Chinese President Xi Jinpeng have announced aggressive new goals for cutting or capping carbon dioxide emissions over the next 10 to 15 years.But a battle is looming with congressional Republicans over Obama’s part of the plan—that is, sharper U.S. CO2 reductions.Under an agreement which Obama and Xi announced on Nov. 11 in Beijing, the U.S. will aim to trim its net greenhouse-gas emissions 26% to 28% below their 2005 levels by 2025.That amounts to a doubling of the pace of average

Photo by AP Wideworld Obama meets with Hill leaders, including incoming Senate Majority Leader McConnell (far right), House Speaker John Boehner (left). Related Links: After GOP Election Wins, Construction Sees Hope for Infrastructure Bills White House transcript of Obama post-election press conference As construction-industry officials look ahead to a Republican-controlled 114th Congress in January, they are focusing on several bills they would like to see lawmakers pass in the lame-duck session that began on Nov. 12.The measures include an appropriations package to fund federal agencies, including construction programs, past mid-December; extensions for expiring multi-employer pension and terrorism insurance programs, and

Related Links: Complete 2015 Economic Forecast (subscription required) The construction recovery in 2014 had two major players: A non-residential building market that outperformed expectations and a homebuilding market that fell below expectations. The combined effect will be an estimated 5% increase in the dollar value of construction starts this year, according to McGraw Hill Construction's Dodge Data & Analytics. A year ago, Dodge expected the total construction market to grow 9% in 2014.Dodge predicts that the recovery will regain momentum in 2015, when construction starts are expected to increase 9%. Dodge announced its 2015 forecast during the Outlook Executive Conference

Related Links: Bureau of Labor Statistics release, with data tables AGC Chief Economist Ken Simonson's comments and analysis ABC Chief Economist Anirban Basu's comments and analysis Construction’s October unemployment rate fell to the lowest monthly level in nearly seven years, as the industry added 12,000 jobs, the Labor Dept. has reported.Construction economists see the low jobless rate as one signal that the industry may start to have problems finding enough workers for important types of positions.The federal Bureau of Labor Statistics said in its latest employment snapshot, released on Nov. 7, that construction’s jobless rate declined to 6.4% last month,

Related Links: White House video of Obama 11/5/2014 press conference Election preview: Even If GOP Wins Senate Control, Gridlock May Persist (ENR 11/3/2014 issue) [subscription] As Republicans' wave of Election Day victories propelled them to control of the Senate and an increased House majority, construction industry officials hold out hope for bipartisan infrastructure bills in the new Congress, especially a new surface-transportation measure, and also see encouraging signs for energy legislation.Although the GOP won big on Nov. 4, its new power is far from absolute. If the inter-party fights that tied up the current Congress erupt again, gridlock could return.Republicans

Related Links: Commerce Dept. Census Bureau's release on September construction spending with data tables AGC Chief Economist Ken Simonson's comments and analysis ABC Chief Economist Anirban Basu's comments and analysis Construction spending in September declined slightly from August's level but was up from its year-earlier total, the Commerce Dept. has reported.Commerce’s latest monthly construction report,  released on Nov. 3, said the value of projects put in place in September was an estimated $950.9 billion, down 0.4% from August’s revised level, but a 2.9% increase from September 2013's rate.September's estimated spending for residential building was $354.8 billion, an 0.4% gain compared

Enlarge Related Links: Cook Political Report Forecasts University of Virginia Center for Politics/Larry Sabato Forecasts As congressional campaigns roll into their final weeks, construction-industry officials are watching to see whether Republicans will take control of the Senate or Democrats will hang on to their majority. A GOP Senate win would put the party in charge of both houses of Congress.But if Republicans do take the Senate, they won't have a clear field. Analysts don't think the GOP will gain enough Senate seats to get a filibuster-proof 60 votes. Nor are Republicans expected to score the two-thirds majorities needed in both