Construction Industry Faces Highest Tax Burden, According to U.S. Treasury

WASHINGTON, D.C. – Construction shoulders a bigger tax burden than any other industry in the United States with an effective rate over 30 percent, according to a new report from the U.S. Department of the Treasury. Associated Builders and Contractors responded to the report by urging lawmakers to pass tax reform that would encourage economic growth by lowering rates for both corporate and pass-through businesses. “Tax Day is a painful reminder to construction companies that they carry a larger tax burden than any other industry,” said 2016 ABC National Chair David Chapin, president of Willmar Electric Service, Lincoln, Nebraska. “While … Read more

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