Date Published: January 5, 2017
What is Trump’s Plan?
President-elect Donald Trump proposes to rebuild America’s infrastructure by creating and fixing bridges, roads, ports, and other public projects using an investment plan of $1 trillion. If Trump’s plan gets approval from Congress, millions more contractors will be put to work as more infrastructure is being built.
How does Trump’s plan help contractors?
Since the 2007-2008 recession, the amount of people working in the contracting industry has dropped 25%. The drop in these types of skilled labor shortages lead to an increase in construction costs since the demand for these workers is growing. With Trump’s design to build $1 trillion worth of public infrastructure, comes a high demand for contractors to compete the projects. If Trump’s proposal passes, numerous work opportunities will be in store for general contractors and subcontractors. The Miller Act requires that general contractors on all publicly funded projects post a performance and payment bond to ensure completion of the project.
Types of bonds necessary to work on public works projects:
- Bid Bond
- Performance Bond
- Payment Bond
- Supply Bond
*A complete description on these types of bonds can be located on our page.
How can a contractor obtain these bonds?
The types of required contracting bonds may vary by each state, so check out our page online for the full list of state bond requirements and what our company has to offer. To directly view our Contractor License Bond, visit our Contractor Licence Surety Bond page .
To apply for a contracting bond, visit our application page here or call us at 1-877-654-2327 and speak with one of our agents for a quote.
More information can on Trump’s plan be found at on this site.
Surety1 was founded in 2003 and helps thousands of clients find the best prices on their surety bonds. We take pride in our work so that we can give you great service. Learn more about Surety1.