District of ColumbiaGeneral NewsKamala HarrisPoliticsU.S. Department of Labor Harris says new rule means ‘thousands of extra dollars’ for workers on federal construction projects by Lucas Garcia August 8, 2023 written by Lucas Garcia August 8, 2023 0 comments Bookmark 58 Vice President Kamala Harris revealed alterations to labor regulations on Tuesday that have the potential to lead to increased wages for construction workers involved in federal endeavors. During her address in Philadelphia, Harris indicated that the Davis-Bacon Act of 1931, a statute mandating the payment of prevailing local wages for public projects, has undergone its first update in several decades. The fresh regulation signifies a step back in time, as it adopts the prevailing wage interpretation employed by the Labor Department between 1935 and 1983. This shift is anticipated to raise the hourly income of both contractors and subcontractors. According to a statement sent via email from the office of the Democratic vice president, over 1 million construction laborers engaged in projects with an approximate value of $200 billion, backed by federal support, will reap the benefits. The statement further expounds that this revised rule will translate into thousands of additional dollars annually for workers, which can aid in home down payments, retirement savings, and simply affording more financial flexibility. Although this move would bolster workers’ earnings, detractors, including the Associated Builders and Contractors, argue that this updated rule will escalate construction project costs, placing a greater burden on taxpayers. Table of Contents Frequently Asked Questions (FAQs) about Labor regulationsWhat did Vice President Kamala Harris announce regarding labor rules?What is the Davis-Bacon Act of 1931?What does the new labor rule involve?How many construction workers will benefit from the new rule?How will the new rule impact workers’ earnings?What concerns do critics have about the new rule?Where did Vice President Harris make this announcement?When was the last update to the Davis-Bacon Act before this change?More about Labor regulations Frequently Asked Questions (FAQs) about Labor regulations What did Vice President Kamala Harris announce regarding labor rules? Vice President Kamala Harris announced changes to labor rules that could lead to higher wages for construction workers on federal projects. What is the Davis-Bacon Act of 1931? The Davis-Bacon Act of 1931 is a law that requires the payment of prevailing local wages on public works projects. What does the new labor rule involve? The new labor rule updates the definition of prevailing wage used from 1935 to 1983, which is likely to increase hourly earnings for contractors and subcontractors. How many construction workers will benefit from the new rule? More than 1 million construction workers on federally supported projects worth around $200 billion are expected to benefit from the new rule. How will the new rule impact workers’ earnings? The new rule is expected to result in thousands of extra dollars per year for workers, helping them with activities such as home down payments, retirement savings, and financial flexibility. What concerns do critics have about the new rule? Critics, including the Associated Builders and Contractors, argue that the new rule could make construction projects more expensive for taxpayers. Where did Vice President Harris make this announcement? Vice President Harris made the announcement in a speech in Philadelphia. When was the last update to the Davis-Bacon Act before this change? The Davis-Bacon Act had not been updated for several decades prior to this recent change. More about Labor regulations Vice President Kamala Harris announces labor rule changes Davis-Bacon Act of 1931 Labor Department’s prevailing wage definition history Details about federally supported construction projects Associated Builders and Contractors perspective on labor rule You Might Be Interested In Armed Individual Accused of Posing as Federal Officer Apprehended at Robert F. Kennedy Jr.’s LA Campaign Gathering Texas Woman Seeks Judicial Approval for Abortion Due to Fetal Fatal Diagnosis Iran Prohibits Mahsa Amini’s Kin from Attending EU Human Rights Award Ceremony Hamas says the second exchange of Israeli hostages for Palestinian prisoners is delayed Soldiers in Revolt Assert Control Over Niger’s President Extravagant Gifts Including Alcoholic Beverages and Art Remain Unclaimed by Billionaire Illinois Governor J.B. Pritzker construction workerscost concernsDavis-Bacon ActDistrict of Columbiafederal projectsGeneral NewsKamala Harrislabor updatesprevailing wageU.S. Department of Laborwage regulations Share 0 FacebookTwitterPinterestEmail Lucas Garcia Following Author Lucas Garcia, a seasoned business reporter, brings you the latest updates and trends in finance and economics. With a keen eye for market analysis and a knack for spotting investment prospects, he keeps investors informed and ahead of the curve. previous post Jamaica’s Women’s World Cup ends, but their fight for support continues next post Brazil’s Leader Aims for Amazon Summit to Restore Essential Global Protections You may also like Bookmark A woman who burned Wyoming’s only full-service abortion... December 28, 2023 Bookmark Argument over Christmas gifts turns deadly as 14-year-old... December 28, 2023 Bookmark Danny Masterson sent to state prison to serve... December 28, 2023 Bookmark Hong Kong man jailed for 6 years after... 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