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Construction Sector Could See Boost from Obama’s 2017 Budget

Posted on April 7th, 2016

Budget-Picture

President Obama’s budget for fiscal-year 2017 arrived in Congress in February. The proposal, which still needs to be voted on, would boost total spending by 4.9 percent, with most of that going towards programs such as social security and interest payments on the national debt.

The budget is filled with minus signs for federal construction programs for 2017, including General Services Administration new buildings, Army Corps of Engineers civil works and Environmental Protection Agency water infrastructure. However, there are offsetting increases in the construction sector, which includes highway and transit programs tracking the 2017 provisions of the recently-approved FAST Act.

According to the Associated General Contractors of America, the fiscal year 2017 budget includes a total of $141 billion for construction programs, which is up about 14 percent from the $123.9 billion that was included in the fiscal year 2016 budget.

The administration’s budget includes:

  • $759 million for the Federal Bureau of Investigation’s Headquarters consolidation project
  • $267 million to deliver new headquarters for the Federal Emergency Management Agency
  • $248 million to complete the modernization of the Calexico, Calif. U.S. Land Port of Entry
  • $10 billion a year to boost construction of new transit projects and $7 billion a year for rail improvement and high-speed rail projects

Triumph Commercial Finance gives companies of all sizes the tools for growth by taking an organic look at each business’ financial situation, business history and risk. Where others may see liability, we see an opportunity to offer alternative financing in tune with today’s economy. Driven by a spirit of independence and entrepreneurship, we are committed to helping businesses obtain equipment.

If you need financial partners who understand the realities of business today, consider the wide open attitude that sets Triumph Commercial Finance apart.

*http://www.forconstructionpros.com/news/12168581/pres-obamas-2017-budget-could-boost-construction-spending-14

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