The Trump administration and congressional Republicans pushed hard for a massive federal-tax overhaul in December that left virtually no segment of U.S. industry untouched, including construction.
The $1.5-trillion Tax Cuts and Jobs Act (TCJA) of 2017, which went into effect in January, amounts to “the most significant legislation of its kind in more than 30 years, since the Tax Reform Act of 1986,” says Matt Turkstra, director, congressional relations, tax fiscal affairs and accounting, for Arlington, Va.-based Associated General Contractors of America.
