Senate proposes $109 billion, two-year transportation funding bill
The Senate is working on an approach that will immediately jumpstart the economy, but we are running out of time and must act quickly.
In contrast, the House has signaled that it intends to go in a direction that will result in overwhelming job losses in the construction sector, which has been devastated during the economic downturn. Congressman Paul Ryan, chairman of the House Budget Committee, laid out a budget blue print that calls for a 36 percent funding cut for the nation’s highway programs.
That 36 percent cut in transportation was passed by the Republican House and unless their Transportation Committee acts to change that, that cut becomes very real.
As Chairman of the Environment and Public Works Committee, I have been working with my Democratic and Republican colleagues to develop a bipartisan transportation proposal that will support current funding levels, and create jobs by expanding TIFIA, which traditionally leverages federal dollars at a 30 to 1 ratio through an already successful loan program.
There is tremendous support from businesses, workers, and the American people for a transportation bill that promotes sound economic growth.
AFL-CIO President Richard Trumka and U.S. Chamber of Commerce President Thomas Donohue have joined together in calling for quick action on a transportation bill that will create jobs and spur an economic recovery.
Under the House passed budget, all fifty states would experience job losses, and the consequences for families across the nation would be devastating.
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