Policy Backgrounders
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Navigating the Economic Storm

Policy Backgrounders

CED’s Policy Backgrounders provide timely insights on prominent business and economic policy issues facing the nation.

Labor Department Finalizes Davis-Bacon Update

August 31, 2023

The US Department of Labor published its final rules updating the Davis-Bacon Act to raise wage standards for contractors on federally-funded construction projects.

  • The rule is expected to impact 1.2 million construction workers employed on federally-supported projects worth an estimated $220 billion annually.
  • The new prevailing wage rules threaten to raise the cost of Federal projects funded under the Infrastructure Investment and Jobs Act, the CHIPS and Science Act, and the Inflation Reduction Act, which are already expected to exceed initial estimates because of inflation.
  • DOL announced that it will host compliance seminars in September to educate agencies, contractors, unions, workers, and other stakeholders to raise awareness on prevailing wage requirements and expedite compliance.

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Authors

Dr. Lori Esposito Murray

Dr. Lori Esposito Murray

Former President

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Mitchell Barnes

Mitchell Barnes

Senior Economic Policy Analyst

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Publications

Webcasts, Podcasts and Videos

Window on China: Outlook for 2024

January 25, 2024 09:00 AM CET (Brussels), 04:00 PM SGT (Singapore)

China's evolving data security regulatory framework

September 14, 2023 03:00 AM ET (New York), 09:00 AM CET (Brussels), 03:00 PM SGT (Singapore)

Press Releases / In the News

BRIEF

Inflation Heads in Wrong Direction for Fed

April 26, 2024

BRIEF

US Economic Growth Cooled in Q1 2024

April 25, 2024

PRESS RELEASE

US Leading Economic Index® (LEI) Fell in March

April 18, 2024

BRIEF

March retail sales rose, but real Q1 spending was lackluster

April 15, 2024

BRIEF

CPI remained stubbornly elevated in March

April 10, 2024

BRIEF

Employment Report Poses Some Risk to Fed Cut Timing

April 05, 2024

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