Sources: Portland Cement Association, Washington, D.C.; CP staff
Initial reports find Sen. Bob Corker (R-TN) and Sen. Chris Murphy’s (D-CT) call for an increase in federal gasoline and diesel taxes—aimed at shoring up the Highway Trust Fund (HTF) longer term while preventing potential road construction work stoppages this season—will spur a $164 billion increase in HTF revenues.
Read More
Road and bridge construction stakeholders are tracking two major developments in Washington, D.C., as the Highway Trust Fund balance dwindles and the current federal highway funding program expires at the end of September.
Read MoreSource: U.S. Department of Transportation
U.S. Transportation Secretary Anthony Foxx is sending Congress a transportation bill for consideration as the House and Senate face looming deadlines to avoid the economic uncertainty and job loss that would ensue if the Highway Trust Fund runs out of money this summer. The GROW AMERICA Act lays the foundation for long-term competitiveness, rebuilding crumbling roads and bridges while providing much-needed certainty for local and state governments and addressing the country’s future needs.
Read More
The American Road and Transportation Builders Association reacted favorably to the Obama administration’s FY 2015 budget, released early last month, which recommends investing $90.9 billion in transportation improvements, a proposed $18.6 billion over the FY 2014 amount, or a 25.7 percent increase. In a follow up to the president’s late-February outline MAP-21 reauthorization priorities, the administration again called for a four-year, $302 billion surface transportation program from FY 2015 through FY 2018.
Read More