US to cut federal construction spending by US$ 724 million
11 May 2009
The US budget for 2010 will see federal spending on construction cut by US$ 724 million according to the Associated General Contractors of America (AGC). The drop from US$ 119.4 billion in 2009 to US$ 118.6 billion in the next fiscal year represents a -0.6% spending cut.
While there will be funding increases in some areas, particularly drinking water infrastructure, cuts will be made to projects relating to flood control and health. It particularly highlights a US$ 121 million reduction in the budget for new facilities for disease control and prevention.
The AGC said in a statement, "Those cuts amount to a net decrease in federal construction investments of US$ 724 million at a time when one in five construction workers are unemployed."