Sep 9, 2008 10:55 AM
The American Trucking Associations (ATA) is seconding a move by the Bush Administration to support legislation that would move $8 billion into the Highway Trust Fund to keep it solvent, according to ATA information.
ATA also urged Congress to quickly approve legislation to fix the Trust Fund, which is expected to move into the red this month.
"Now that Secretary Peters has announced the withdrawal of a veto threat over the Highway Trust Fund emergency funding legislation, I urge Congress to act as quickly as possible to authorize the transfer of these critical funds," said ATA President Bill Graves. "The stark reality facing our nation is that we have neglected our infrastructure for far too long and the bill is coming due. Current revenue streams are failing to keep pace with infrastructure need."
The Highway Trust Fund had been projected to run into deficit during the 2009 fiscal year. However, a reduction in vehicle miles traveled has sharply reduced federal income for infrastructure projects.
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