Some shakeups are happening as it relates to the final rule to modernize the Davis-Bacon and Related Acts. Perhaps this will impact how your construction company conducts business in 2024 and beyond. Let’s take a look at what is currently going down.
A little bit of a history lesson here first. In 1931, the Davis-Bacon Act was enacted to prevent nonlocal contractors from invading a region, using cheap labor, and disrupting local wage rates. The Davis-Bacon Act was passed initially to address the issue of unfair competition in the construction industry.
Bringing us to almost present day, we see in August, the U.S. Dept. of Labor announced the issuance of the final rule to modernize the Davis-Bacon and Related Acts, which states contractors and subcontractors must pay their laborers and mechanics employed under the contract no less than the locally prevailing wages and fringe benefits for corresponding work ...
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