AGC Supports Highway Trust Fund Solvency on Capitol Hill
AGC backed a provision in the U.S. Senate by Senators Max Baucus (D-Mont.) and Chuck Grassley (R-Iowa) that would prevent the Highway Trust Fund from going into the red by restoring $5 billion in revenue for Fiscal Year 2009.
“Failure to pass the Baucus/Grassley fix will reduce highway funding to states by 32 percent—about $16 billion. The Baucus/Grassley provision will ensure that the Highway Trust Fund does not go into deficit next year,” said AGC’s chief executive officer Stephen E. Sandherr during a news conference on Capitol Hill led by Baucus and Grassley on May 1.
AGC CEO Stephen E. Sandherr spoke in support of a provision by U.S. Senators Max Baucus (D-Mont.), left, and Chuck Grassley (R-Iowa), right, to restore $5 billion to the Highway Trust Fund.
AGC supports this reauthorization bill, which provides more investment dollars for aviation and highway infrastructure. The proposal helps states fund projects facing increasing materials costs as highway and bridge construction has increased 56 percent since December 2003. The funding would add more construction jobs to the weakened economy. With fewer contracts to bid, contractors have less work and therefore must reduce their pay rolls. Department of Labor statistics report highway and street construction employment peaked in January 2007 and has seen a 3.2 percent decrease in construction employment over the past 15 months. America must stay competitive and a strong transportation system is a key to that success. Without the Baucus/Grassley fix there is the potential to place the U.S. further behind in addressing the nation’s transportation deficit.
For more information, contact Brian Deery at firstname.lastname@example.org or (703) 837-5319.
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