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The Davis–Bacon Act of 1931 is a United States federal law that establishes the requirement for paying the local prevailing wages on public works projects for laborers and mechanics. It applies to "contractors and subcontractors performing on federally funded or assisted contracts in excess of $2,000 for the construction, alteration, or ...
There are also 32 states that have state prevailing wage laws, also known as "little Davis–Bacon Acts". The rules and regulations vary from state to state. As of 2016, the prevailing wage requirement, codified in the Davis–Bacon Act, increases the cost of federal construction projects by an average of $1.4 billion per year. [3]: 1
James John Davis (October 27, 1873 – November 22, 1947) was a Welsh-born American businessman, author and Republican Party politician in Pittsburgh, Pennsylvania. He served as U.S. Secretary of Labor and represented Pennsylvania in the United States Senate .
The Copeland Act takes its name from U.S. Senator Royal S. Copeland, its primary sponsor.Copeland's Senate Subcommittee on Crime found that up to 25% of the federal money paid for labor under prevailing wage rates was actually returned by the wage-earner as a kickback to the employing contractor or subcontractor, or to government officials. [1]
Robert Low Bacon (July 23, 1884 – September 12, 1938) was an American politician, a banker and military officer. He served as a congressman from New York from 1923 until his death in 1938. He is known as one of the authors of the Davis–Bacon Act of 1931 , which regulates wages for employees on federal projects.
The 1932 Act also increased the tax on the net income of corporations from 12 percent to 13.75 percent. [76] Additionally, under Hoover, the estate tax was doubled, corporate taxes were raised by almost 15 percent, and a "check tax" took effect, placing a two-cent tax on all bank checks.
Longer lives. Lifespans have increased by around a decade since the 1960s, putting even more pressure on people to save. The number of Americans 65 and older is projected to increase from 58 ...
On December 9, 1930, Doak was appointed by President Hoover to serve as Secretary of Labor, succeeding Senator James J. Davis. [1] He encouraged the passing of the Davis-Bacon Act, which determined the prevailing wage to be paid on a government contract or federally funded construction project.