Welcome New Sponsors!
CNA Surety
CNA Surety stands alongside contractors and subcontractors at every step of the bonding process to help them better manage their risks. Through our strong relationships with brokers and independent agents located in all 50 states, Puerto Rico and Canada, we have the capacity, experience and dedication to serve a full range of bonding needs, from small specialty jobs to multi-billion dollar construction projects. CNA Surety is known for its expert underwriting, solid financial strength, market leadership and creative solutions to all bonding requirements. CNA Surety is the third-largest writer of surety bonds in the U.S., backed by the financial strength of the CNA Insurance Group and highly rated for financial strength by all the major independent rating agencies.
Builders Mutual
Headquartered in North Carolina, Builders Mutual is one of the Mid-Atlantic and Southeast’s leading writers of commercial insurance for the construction industry. Since its inception, Builders Mutual has broadened its territory beyond North Carolina to include the District of Columbia, Florida, Georgia, Maryland, Mississippi, South Carolina, Tennessee, and Virginia. The company provides coverage to more than 29,000 policyholders through more than 7,000 sales agents and employs more than 450 staff at its Raleigh headquarters.
Introducing the new ASA Podcast, featuring guests and topics that hit home with Subcontractors!
The first two episodes are available today in the Learning Center at fasacares.org.
Episode 1 focuses on Workforce Development with ASA CEO Richard Bright, where we discuss how ASA is responding to the need for skilled workers in the construction industry.
In Episode 2, ASA’s Mike Oscar gives an overview of ASA’s Advocacy efforts, including how he and the team work to get important issues for Subcontractors in front of key legislators, some of the success we’re having, and how ASA members can get involved.
Watch for future episodes dropping regularly in the Learning Center where we’ll cover topics like the Subcontractor Legal Defense Fund, Prompt Pay, ASA’s alliances, and more!
The FY25 NDAA and Delaying the Corporate Transparency Act (CTA)
Sens. Scott (R-SC) and Lankford (R-OK) offered amendments to the FY25 National Defense Authorization Act (NDAA) to delay the Corporate Transparency Act (CTA)’s filing deadline by one year. Remaining consistent with our message to delay the implementation of the CTA, ASA joined 130 organizations in support of these important amendments. Although filing under the CTA began at the start of this year, only a few million businesses have registered while an estimated 28 million remaining covered small businesses have yet to file. This is a compliance rate of less than 10 percent and it puts these businesses at risk of large penalties and is largely due to a lack of awareness among business owners regarding the new law. Both the business community and the Department of Treasury’s FinCEN have gone to great lengths to educate small business owners as to their new obligations, but it is clear additional time is needed. Absent a delay, and given the latest data regarding compliance rates, millions of law-abiding citizens will face steep fines and criminal penalties come the end of this year.
Recent court decisions have added to the confusion and are an additional argument for delay. In a ruling in March of this year, the United States District Court for the Northern District of Alabama found the CTA exceeded the Constitution’s enumerated powers and is therefore unconstitutional. That case was appealed and will be heard by an appellate court later this year. In the meantime, however, FinCEN continues to enforce the CTA against all small businesses and other entities not named in the lawsuit.
Finally, in enacting the CTA lawmakers explicitly called for a reporting deadline of “not later than 2 years after the effective date of the regulations” for existing entities. This timeframe was designed to give affected entities sufficient time to learn of, understand and comply with the new reporting regime, while minimizing the burdens on reporting companies. In its rulemaking, however, FinCEN shortened this deadline and gave existing entities just one year to comply. That decision is problematic both in its disregard of congressional intent and its practical implications for CTA compliance rates.
Heat Stress Mobile App
The AIHA Heat Stress Mobile App, developed by the association for scientists and professionals committed to preserving and ensuring occupational and environmental health and safety, is an easy-to-use, free tool that allows users to tailor their location, intensity of their workload, clothing type, degree of sun exposure, and preferred language to assess their heat stress risk.
Available as a free download for iPhone and Android users, the new app differentiates from other apps in its approach and is based on an adjusted Wet Bulb Globe Temperature, which accounts for air temperature, humidity, wind, as well as the user-inputted factors. Other available heat stress apps calculate heat index, which is the “feels like” temperature.
The August issue of Glass Magazine features the annual award winners for projects and products. This year’s eight project and seven product winners push performance, creativity and innovation to the next level.
Featured on the cover, Le Visionnaire in Paris, France, is this year’s Project of the Year for its striking all-glass façade. Measuring 82 feet high, the structure appears as a single, uninterrupted pane of glass. The project represents the first use of curved and spherical tempered glass technology in France.
Demystifying construction accounting for contractors
A practical guide to mastering the fundamentals of construction accounting. From identifying hidden costs to cash flow strategies to setting financial goals, learn how to build a better financial future for your business. From Knowify.
