The chief executive officer of the Associated General Contractors of America, Stephen E. Sandherr, released the following statement in support of the new, bipartisan, Restoring Investment in Improvements Act that is designed to fix a drafting error in the 2017 tax law that set the depreciation schedule for commercial property improvements at 39 years instead of 15:

"Many construction projects are being delayed or reconsidered because of a drafting error that set the wrong timeline for depreciating the cost of commercial property improvements. Fortunately, a bipartisan group of Senators understands the very significant and real threat this error poses to future commercial projects and the overall health of our economy.

"Fixing the legislation and setting the right depreciation timeline for these kinds of essential improvements will boost demand for construction, support new projects and give a well-timed boost to the economy. That is why the Associated General Contractors of America is urging Congress to enact this legislation as quickly as possible, so the President can sign it and our economy can continue to expand."

For more information, visit www.agc.org.

Today's top stories

Blalock Crews Build TDOT's $67M Newport Bypass

New Bridges Part of Iowa's $114M Madison Avenue Project

Eagle Bridge Co. Works On Final Leg of U.S. 35 Upgrade

SAKAI Achieves Record Sales, Production

Takeuchi Recognizes Top Dealers at 2024 Dealer Summit

Equip Expo's Summer Giveaway Offers a Chance for Lifetime Trade Show Registration, Gift Card, Hotel Stay

Tennessee's Pugmill Systems LLC Expands Its Product Offerings to Include Concrete Plants

ASCENDUM Machinery Opens New Savannah, Ga., Facility