ATA gives thumbs up
on Highway Trust fund boost
Sep 12, 2008 9:53 AM
The American Trucking Associations (ATA) is praising Congress for approving legislation that will transfer $8 billion into the Highway Trust Fund and keep it solvent, according to ATA information.
The Senate approved HR 6532 by voice vote, shifting money from the general fund into the Highway Trust Fund, which was expected to run dry this month. President Bush is expected to sign the bill this week, preventing the fund from running into a deficit. The House approved similar legislation July 23, ATA said.
The congressional approval followed lobbying efforts by ATA, other highway user groups, highway construction firms, and state and local governments. “We’re pleased to see that the Administration and Congress recognize the significant need to sustain the nation’s infrastructure, which is a vital link to the health of the US economy,” said ATA President Bill Graves. “Restoring these critical funds is an important step in solving the complex problem of funding our transportation network.”
ATA said it has long been advocating for the Bush Administration and Congress to approve legislation to fix the Trust Fund to prevent a budgetary catastrophe. The Highway Trust Fund had been projected to run into deficit during the 2009 fiscal year. However, a reduction in vehicle miles traveled sharply reduced income flowing into the Trust Fund, and precipitated the need for quick action.
America needs to invest heavily in its transportation infrastructure to ease congestion, alleviate bottlenecks, and repair existing infrastructure to ensure the systematic movement of freight on a safe and reliable network of roads and highways and to maintain the US transportation infrastructure network, ATA said.
- ATA urging fund solvency
- Trust Fund account nears insolvency
- Senate approves $8 billion for Highway Trust Fund
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