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AIA says building industry imperiled by mandatory spending cuts

Tue, 11/06/2012 - 10:25am

A new report by the American Institute of Architects (AIA) says Congress and the White House must agree on a federal budget by Jan. 2, or massive mandatory spending cuts will kick in, potentially wreaking havoc on the building industry. The AIA analysis identifies 48 budget accounts that would take a hit, slashing spending for the design, construction, and rehabilitation of buildings and other vertical infrastructure. The Institute estimates that up to $2 billion in pending work and 66,000 related jobs might be lost in the mandatory cuts, unless a different solution is achieved. www.aia.org/press/releases/AIAB096228

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