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The 2024 Election Impact on Washington, D.C.

ow that November 5th is behind us as we move forward with President-elect Trump and the Republican control of both chambers of Congress, it’s only natural during a time like this to begin playing what-ifs, taking past statements, genuine policy concerns, and anxieties about the road ahead, and mixing them into reactions that may or may not be useful as developments occur. The reality is that much remains unknown about what lies ahead in Washington. For construction, like everyone else, the prudent path is to focus on what’s known and keep energy from becoming exhausted over speculations that at this moment are only that, speculation.

One example of focusing on what’s real is tax policy. Current tax provisions enacted by Congress in 2017 are due to expire at the end of 2025. Congress will need to do something to keep those provisions from expiring. That’s a fact. Several of those provisions, such as the Section 199A Qualified Business Income Deduction, are important to our members. We have already engaged in conversations on policy that will help our members and are well positioned to advance this discussion in the year ahead. So, while some are excited, and some are anxious, about what may lie ahead in Washington in the year ahead, a deep breath and careful consideration is always warranted.  Let’s choose our legislative and regulatory paths wisely as we welcome the 119th Congress and the new administration