The Association of Equipment Manufacturers (AEM) commends the U.S. Senate’s approval of legislation that transfers $8 billion into the Highway Trust Fund to avoid a revenue shortfall. The House of Representatives, which had previously approved similar legislation, is expected to approve the Senate bill.
This legislation enables hundreds of construction projects across the country to continue. Without it, the Highway Trust Fund would have seen a significant funding shortfall next year, resulting in drastic cuts to states’ transportation construction budgets.
States have begun to cancel or postpone projects in anticipation of a shortfall. And, skyrocketing material costs have already forced states to reduce their transportation projects, resulting in a loss of 48,000 highway construction jobs in the past 12 months, notes the AEM in a press release.
In its comments on the bill, the AEM cautions that while passage of this legislation will help keep Americans working and highways properly maintained, there is much work left to do.
“This is only a temporary fix,” says AEM President Dennis Slater. “The trust fund will continue to experience shortfalls as Americans drive fewer miles. Our nation’s lawmakers still must commit to increasing investment in our transportation infrastructure for the future.”
The AEM has been active in advancing this legislation as well as overall promotion of adequate transportation infrastructure funding, coordinating Congressional informational visits and industry coalition participation.
More information is available at www.aem.org.