President George W. Bush has released a $3.1 trillion budget for fiscal year 2009, which shrinks domestic spending and reduces the amount of money aimed at infrastructure investment at a time when it is needed most, according to the Associated General Contractors of America (AGC).
According to comments issued in a press release from the ACG, the administration’s budges proposes a 2.9 percent cut in infrastructure funding below last year’s levels.
“At a time when we’re looking for ways to stimulate the economy, cutting infrastructure spending is short-sighted,” says Stephen E. Sandherr, chief executive officer of the AGC. “This budget does not help to promote job growth and protection in a declining economy.”
The budget proposes to cut $1.8 billion from the Highway program, $200 million from the Transit program and $750 million from the Airport Improvement program.
More information is available at www.agc.org.