NJECPAC & NJ-IEC Partnering to Protect You And Your Business

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New Jersey, United States
NJECPAC is a Continuing Political Committee (CPC). A CPC is any group of two or more persons acting jointly, or any corporation, partnership, or any other incorporated or unincorporated association, civic association or other organization, which in any calendar year contributes to aid or promote the candidacy of an individual, or the candidacies of individuals, for elective public office, or the passage or defeat of a public question or public questions, lobby for the passage or defeat of certain legislative bills introduced in the NJ Legislature in accordance with N.J.S.A. 19:44A-8(b). A CPC is frequently referred to as Political Action Committee (PAC). The NJECPAC was formed to provide funding for legislative initiatives of its members and its member organizations representing the interests of Electrical Contractors, Small Businesses and Taxpayers throughout the State of New Jersey.

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Monday, August 23, 2010

Stimulus Programs Hobbled By Antiquated Regulations

The American Recovery and Reinvestment Act of 2009, P.L. 111-5 was signed into law on Feb. 17, 2009. The purpose of the $787 billion recovery package is to jump-start the economy and create and save jobs. It provides tax relief and increases or extends health benefits, unemployment benefits and renewable energy incentives. 

But these funds come with many strings. Projects funded under the Recovery Act are subject to unprecedented levels of transparency and accountability. The Recovery Act requires extensive reporting from the prime recipients. Special terms and conditions are included in covered contracts to track, monitor and report on how funds are spent.

Many private companies are unaccustomed to sharing their internal data, including allowing the world (not to mention customers and competitors) to see how much their top executives are paid. The Recovery Act also includes Buy American Act requirements, extends the reach of Davis-Bacon labor standards (Prevailing Wage), expands access of the GAO and the various offices of Inspectors General to contractor records, and creates an independent board to coordinate and conduct oversight of covered funds to prevent fraud, waste and abuse.

Millions of Construction Contractors are disinterested due to the excessive wage requirements and antiquated regulations attached.
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