Leaders of the nation's two top construction industry organizations told FOX News Digital that regulations and policies enacted under President Biden are hindering further growth in their sectors, and they hope to ease the burden on the industry. He said he is looking forward to the new Trump administration.
On Monday, the Biden administration touted the following additions: 1.6 million new jobs in construction and manufacturing. But behind this seemingly momentous announcement, Ben Brubeck, vice president of regulatory affairs at Associated Builders and Contractors, says, “Given the right economic and policy environment, growth could be even better.'' ' he warned.
Brubeck said the association's members include the Infrastructure Investment and Jobs Act (IJA), the CHIPS and Science Act (CHIPS), the Inflation Control Act (IRA), and the American Rescue Plan Act (ARPA).
“We survey our members fairly regularly, and the number of members reporting participation in IJA, CHIPS, IRA, and ARPA-funded projects is significantly higher and lower,” Brubeck said. he said. “It was less than I expected.”
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Mr. Brubeck pointed to the fact that funds from these programs took a long time to be disbursed due to onerous regulations such as permitting requirements. He also cited oppressive labor policies, such as project labor agreements and increased borrowing costs, as other factors contributing to the slowdown in growth not seen under President Biden.
Brian Termeer, vice president of communications and workforce for Associated General Contractors of America, also blamed Biden's large construction investments for failure due to regulatory and review processes.
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“Our analysis is [the Biden administration] They have been forced to introduce so many kinds of social and environmental rules in addition to funding that they can influence markets in their own ways and slow down the progress they so desperately desire. It’s gone,” Termeer said. He also noted that the administration has “imposed a number of new constraints” on the construction of semiconductor factories, which is hindering growth.
Termeer and Brubeck say construction sector growth will accelerate under the Trump administration as companies manage to overcome federal regulations enacted under the Biden administration and others may also be set back. He said he was looking forward to it.
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“Ironically, by the time President Trump returns to office, we expect to see a significant increase in infrastructure construction,” Termeer said. “Because all the projects that we've announced funding for in the last two to three years will eventually clear the environmental hurdles and start construction.”
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“Our federal contractors are now completely sidelined with these large projects, but this all started in January at the beginning of the year,” Brubeck added. “That's why they're so excited about the possibility of deregulation on the horizon with the Trump administration.”
The White House did not provide on-the-record comment to Fox News Digital in time for publication.
