The federal legislation that currently funnels federal aid for highway and bridge construction to the states is entitled “Moving Ahead for Progress in the 21st Century” (or “MAP-21”). This legislation was passed as a two-year bill designed to authorize spending for FY 2013 and FY 2014. The legislation was due to expire October 31, 2014, but was extended last summer through May 31 of this year. The extension continued federal aid for highway, highway safety and public transportation programs at status quo funding levels. Not only did Congress need to deal with the expiration of this authorizing legislation last year,

It looks as though the optimists won in April. Those predicting that the March slowdown in job growth was just a temporary blip related to the difficult winter weather may have been right—in April, the U.S. economy added a healthy 223,000 jobs, and the unemployment rate dipped to 5.4%. This could be an early sign that the second quarter is reviving after economic growth fell to nearly zero in the first quarter. In April the positives certainly outweighed the negatives. Some of the industries with the strongest gains included professional/business services (up 62,000 jobs), education and health services (up 61,000

At the close of its March 18 meeting, the Federal Reserve Board issued a statement that modestly adjusted monetary policy regarding future interest rate changes. Although the change was slight, it is one that could ultimately impact U.S. construction activity. In its newest statement, the Fed removed language that said it will be “patient” about an upcoming decision to raise interest rates. Removing this language is generally believed to open the door for the Fed to raise rates sometime later this year—possibly as early as June.Ultimately, the Fed’s timing on raising rates will heavily depend on its  confidence in the