"The federal Highway Trust Fund is on life support. Chairman Baucus and Senator Grassley are to be commended for their foresight in recognizing this looming crisis and proactively developing a bipartisan solution aimed at preventing a devastating $14-billion cut in federal highway investment to state and local governments next year," notes Pete Ruane, president, American Road & Transportation Builders Association (ARTBA).
"This is not the first time the two senators have demonstrated this type of leadership," Ruane added. "They were the architects of a landmark 2004 law that helped ensure the Highway Trust Fund would be fully compensated for ethanol motor fuels sales."
"The Baucus-Grassley proposal is an economic stability measure that ensures thousands of American families won’t lose their jobs next year and signals to the stock market that the highway construction sector remains solid."
Established in 1902, ARTBA represents the U.S. transportation design and construction industry.