NY Contractor Relief Bill Is Much-Needed, But Imperfect

By Michael McKenna, Timothy Ryan and Kanwal Awan (June 28, 2022, 6:52 PM EDT) -- Traditionally, construction contractors factor into their bids some expectation that there could be minor increases in material prices after the contract is awarded. However, due to COVID-19 and subsequent supply chain issues, price increases and labor shortages have materially altered the landscape. Unexpectedly, material prices rose to historic levels. This left many contractors and subcontractors with project financials that were both unanticipated and unsustainable....

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