The DOL has given just 60 days for taxpayers and industry stakeholders to provide thoughtful and comprehensive comments on these sweeping changes that apply to an estimated $217 billion in federal and federally assisted construction spending per year and provide government-determined wage rates for an estimated 1.2 million U.S. construction workers. Meaningful Davis-Bacon Act regulatory reform would foster robust competition from all members of the construction industry on federally funded contracts and deliver communities the high-quality infrastructure they deserve while providing the best possible value for taxpayers.
Marc Joffe wonders whether we’ve reached peak China:
With per capita GDP so far below advanced-economy levels, it may seem that China has a lot of room for catch-up growth. But poor macroeconomic management and malinvestment of capital into zombie organizations and ill-conceived infrastructure projects may mean China’s ceiling is much lower than that of Japan, South Korea, Taiwan, or others that have enjoyed substantial catch-up growth spurts before. If we have indeed reached “peak China,” some may need to reconsider their admiration for autocratic technocracies and learn to love the untidiness of competing ideas.