Sequestration and Its Possible Impacts on Construction, a report that AGC updated on February 7, estimates that “the cuts to federal construction accounts could exceed $4 billion….The Highway Trust Fund, Airport Improvement Program, Department of Veterans Affairs accounts, and General Services Administration accounts are exempt from the sequestration process scheduled to occur on March 1, 2013. However, those construction accounts could face cuts in later fiscal years to help ensure that federal spending does not exceed the [Budget Control Act]-enacted budget caps. [Construction accounts for building military facilities] could see over $1.5 billion in cuts…U.S. embassies abroad could feel the impact of about a $90 million cut—a nearly 12% reduction compared to [fiscal year] 2012 funding levels—to embassy security, construction and maintenance funding.” A $135 million reduction in drinking water and wastewater facilities and infrastructure investment would be triggered.

To read more: http://www.agc.org/cs/industry_topics/construction_economics

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