Tax Reform Proposals Recognize Need to Address Chronic Funding Shortfalls
The chief executive officer of the Associated General Contractors of America, Stephen E. Sandherr, issued the following statement in response to President Obama's transportation announcement today:
"It is encouraging to see President Obama pushing for a long-term bill to fund desperately needed highway and transit investments. We look forward to reviewing details about the measure, which recognizes the federal transportation funding shortfalls that threaten to curtail investments in highway and transit projects as early as this summer. The president clearly understands that any new transportation bill must include new sources of revenue to meet the needs of our aging transportation system.
"We expect this proposal will stimulate the debate about the best way to fund the federal program. We are also encouraged that Ways and Means Committee Chairman Camp acknowledges the coming highway trust fund crisis in his tax reform discussion draft. However, the most significant impact of these announcements should be to motivate Congress and the president to fix the Highway Trust Fund before this summer and to enact a new, fully funded, long-term measure before September 30.
"Over the coming weeks, we will continue to push Congress and the president to address funding shortfalls and enact a long-term highway and transit bill. This will include launching a new educational campaign designed to educate members of Congress about the local economic benefits of federal transportation programs. The president's announcement today and the potential for similar sentiments in the Ways and Means proposal will no doubt help move this issue further along."