January 20, 2003—Associated Builders and Contractors (ABC) applauded the economic stimulus and growth plan proposed January 9, 2003, by President Bush, as benefiting the construction industry.
“The president’s economic stimulus package will create immediate benefits for the US economy, while setting the stage for long-term economic growth,” said Kirk Pickerel, ABC president and CEO, in a statement released January 8. “There are specific elements of this plan that will have a direct impact on construction such as the changes in small business expensing limits that will impact firms’ ability to invest in technology and new equipment to expand the business. This in turn has a positive affect on manufacturers, suppliers, and others throughout the economy.”
“Experts are predicting a mild slowdown in the US construction economy during 2003,” said Pickerel. “The president’s economic stimulus plan can help by encouraging individuals to spend and by enabling small businesses to invest in the future, stimulating job growth.”
“Economic growth stimulated by the president’s plan will put more power in the hands of consumers, and that will have a ripple affect throughout the economy,” said Pickerel. “Historically, when the overall economy has grown, the construction market has benefited.”
