Money & Infrastructure – A Primer
This article, Money & Infrastructure – A Primer, is the first part of an ongoing series by Robert Fried focused on infrastructure and construction in the United States. Future updates will include specific comments from the transactional and financial teams at Practus as more details become available.
The pending enactment of large-scale construction incentive and funding legislation at the federal level will set into motion a series of new projects for various aspects of the transportation industry. Furthermore, the legislative effort on infrastructure itself is closely linked to independent spending authorizations that must be enacted. This means that access to funds for new projects will likely be linked to tax and other provisions that, in specific situations, will provide the union(s)and other interest groups a market share advantage.
These issues are an extremely active area of the law at the state and local level of the law as well. For this reason, Robert Fried offers two illustrative case updates (decisions of the California Supreme Court) which address the expansion of public works requirements to labor performed to maintain support services and equipment, including, in a first for the mode, railroad rolling stock.
Here is an outline of the article:
- Understanding the Davis-Bacon and Service Contracting Acts
- What is a Project Labor Agreement and How Does It Affect Transactions Financing, Structure and Bidding?
- How Will the PRO Act Provisions Affect Transactions?
- How will the Newly Restructured National Labor Relations Board and Agency Leadership Affect Transactional Decision-making?