GOOD NEWS, CIVIC PROJECT CONCRETE CONTRACTORS: TRANSPORTATION GRANT CUTS DENIED
Yeah, yeah . . . politics and politicians might not seem to have much to do with the concrete masonry business.
However, do you ever work on government concrete construction projects?
Paving roads, building public transportation stations and other such projects part of the core of your business – or maybe even your bread and butter?
The Senate just rejected transportation department budget cuts.
That means if you recently purchased or financed concrete equipment or masonry equipment to do government concrete or masonry work, the pipepline of potential projects will likely still be pumping steadily.
If you have been considering purchasing such industrial concrete or masonry equipment that is particularly useful for civic projects, then you can now finally pull that trigger and know that the projects requiring such concrete equipment will likely be there – as the equipment pays for itself in new bids and saved time.
The Senate Appropriations Subcommittee overruled the budget cuts proposed by the Whitehouse to the DOT Capital Investment Grants and HUD’s Community Development Grants.
The final $71.4 billion senate-approved version of the bill, which the Transportation and Housing and Urban Development Appropriations Subcommittee approved on a voice vote June 5, prevents reductions to a program run by the Department of Veterans Affairs and HUD.
The preserved program offers rental assistance to homeless veterans.
That’s just the start though.
HUD’s Community Development Block Grants are set to receive $3.3 billion in federal funding, while the Department of Transportation’s Capital Investment Grants will receive $2.6 billion in total federal funding. That translates into many miles and cubic feet of concrete work that will occur in 2019, or begin in 2019 and continue into 2020 or beyond (depending on the scope of a particular project).
Among 70 US Senators who suggested provisions in the bill, Community Development Block Grant funding was the most frequent request, according to Appropriations Subcommittee Chairwoman Susan Collins (R-ME).
Whether you own or finance heavy concrete equipment that enables you to do civic HUD or transportation infrastructure concrete projects, this most recent vote means you can potentially get short-term payoff on your concrete equipment investment, in ADDITION to the long-term payoff and benefits.If you’ve made your way into the civic project sector, and need to beef up your equipment, consider concrete equipment financing options. You can find more information on financing industrial concrete equipment here.