New DOL Final Rule Regarding the Davis Bacon and Related Acts Will Have Significant Impacts on Contractors
Reprinted from August 14, 2023 newsletter
The Department of Labor (“DOL”) announced its long-awaited final rule updating the Davis Bacon and Related Acts. Scheduled for publication on August 23, 2023, the new rule will have significant impacts on many industries and businesses, particularly contractors and subcontractors who perform work on federal and federally assisted construction contracts of $2,000 or more.
The changes to the rule will annually affect an estimated $217 billion in federal and federally assisted construction contracts and wages for approximately 1.2 million construction workers.
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