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    Construction NewsBRIEFS! 11-10-2011

    The Department of Administrative Services hosted its first online reverse auction bid recently, when it advertised the need for payloader machinery, according to the June 2011 edition of DAS Times, the agency’s newsletter. Four bidders participated. The highest bidder started at $133,000 and the lowest bidder ended at $115,000, according to the agency’s Procurement Services Director.

    Employees who experience under withholding during this transition year to implement state income tax changes on a catch-up basis, which has resulted in a number of challenges, and their employers will not be penalized, according to the state Department of Revenue Services. DRS Announcement 2011(6), Additional Guidance Regarding Withholding Calculation Rules for Supplemental Compensation and Use of Newly Issued Form CT-W4T tells interested employees how to calculate their expected Connecticut income tax liability for 2011.

    The twelve-member bipartisan Deficit Reduction Committee, the so-called “supercommittee”, has until Nov. 23, 2011, the day before Thanksgiving, to craft a plan that would cut the federal budget deficit by at least $1.2 trillion. Congress has until Dec. 23, the day before Christmas Eve, to approve its recommendations. Across-the-board spending cuts to all federal programs, including Defense, would kick in if the panel deadlocks or its proposals don’t pass.

    For more Construction news please see CCIA Highlights Weekly Newsletter (for members only) or Request a copy today!