July 5, 2005: AGC Urges Passage Of Multiemployer Pension Bill
WASHINGTON - The Associated General Contractors of America (AGC) testified at a hearing on Capitol Hill before the House Ways and Means Subcommittee on Select Revenue, urging Congress to pass a multiemployer pension bill that would increase the maximum deductibility limit to 140 percent of current liability and help ensure the fiscal health of the plans moving forward.
Chuck Clark, a member of AGC's Michigan Chapter and president and CEO of Clark Construction, Lansing, Mich., told the House committee, "If Congress would raise the maximum deductibility level to 140 percent, many of the funding problems faced by the industry in 2002 could be avoided in the future."