US elections could improve business climate for construction industry

Thursday, 04 November 2010 20:57:02 (GMT+3)   |  
       

Republicans seized control of the US House of Representatives gaining at least 60 seats, and narrowed the Senate's Democratic majority by gaining an additional six seats, during Tuesday's mid-term elections.

Election results appear to have been driven primarily by anger and frustration with the national unemployment rate hovering around 9.5 percent for the past 14 months, as well as voter disapproval of some of the White House's domestic policies such as the controversial healthcare bill.

There is some home that the outcome could mean increased activity in struggling sectors like construction. "The results of this election signal a strong rejection of the out-of-control spending, federal government expansion and mismanagement of the economy over the past two years," commented Associated Builders and Contractors' (ABC) 2010 National Chairman Jim Elmer Wednesday.

"A cloud of uncertainty has hung over the construction industry as projects remain on hold while business owners brace for the next big government mandate or tax hike. Meanwhile, those contractors that are working are struggling to navigate their way through a maze of new burdensome regulations coupled with a hostile business environment," Elmer said.

"It is our hope that this new Congress will bring fresh ideas to Washington and pave the way to create jobs, cut taxes and halt the big government assault on America's small businesses so that construction and all other industries can get back to work," noted Elmer.


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