Election season is just starting to heat up, but some surprising trends emerged in the recent primary elections that could have an impact on the construction industry, if they continue through the mid-term vote in November.
“In a lot of states where you’d expect to see a more progressive vote, there was a trend toward conservatism. You’re starting to see a bit of a change,” said RC Legal Insights Expert Trent Cotney, of Adams and Reese.
Participation is up among contractors, particularly in battleground states like Florida, Texas, and Colorado, where insurance-related work is prevalent, and regulatory reform is always an issue.
“You can’t afford not to pay attention to who’s in office,” he said in this brief video chat. “These laws are constantly changing and it doesn’t matter what side of the fence you’re on. If you don’t participate, you don’t have a say.”
Cotney also discusses what contractors need to know in terms of taxes as the close of the year approaches. He said getting started now could be the key to earning available tax savings such as the employee tax retention credit, or projects geared for energy savings.
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