/ Corporate / AASHTO President Details Funding Crisis in Statements Sent to Congress

AASHTO President Details Funding Crisis in Statements Sent to Congress

Matt Ball on June 17, 2015 - in Corporate, Transportation

WASHINGTON D.C.—Two key congressional committees today received statements for the record detailing the critical condition of the Highway Trust Fund from John Cox, President of the American Association of State Highway and Transportation Officials and Director of the Wyoming Department of Transportation.

“For almost 60 years, the Highway Trust Fund provided stable, reliable and substantial highway and transit funding,” writes Cox. “However over the past seven years this has not been the case. Since 2008, almost $62 billion has been transferred from the General Fund to the Highway Trust Fund to keep it solvent.”

The written testimony was delivered to the House Ways and Means Committee, which will today hold a hearing on long-term funding for the Highway Trust Fund. The Senate Finance Committee will hold a similar hearing tomorrow. Both committees are responsible for deciding how to pay for surface transportation authorizing legislation. In his testimony Cox urged Congress to find an “implementable and viable set of revenue solutions.”

“There is ample documented evidence that shows infrastructure investment is critical for long-term economic growth, increasing productivity, employment, household income, and exports,” Cox writes. “Conversely, without prioritizing our nation’s infrastructure needs, deteriorating conditions can produce a severe drag on the overall economy. Whichever revenue tools are utilized, at a minimum, it is crucial to identify solutions that will sustain the MAP-21 level of surface transportation investment in real terms.”

Chad Shirley, Deputy Assistant Director for the Microeconomic Studies Team at the Congressional Budget Office, Robert Poole with the Reason Foundation, and Bill Graves, President and Chief Executive Officer with the American Trucking Association are scheduled to testify at today’s House Ways and Means Committee hearing. Dr. Joseph Kile, Assistant Director for the Microeconomic Studies Division at the Congressional Budget Office, former Transportation Secretary Ray LaHood, a Senior Policy Advisor with DLA Piper, and Stephen Moore with the Heritage Foundation are scheduled to testify at the Senate Finance Committee hearing tomorrow. John Cox’s statements are available at: http://downloads.transportation.org/Cox_Testimony_061715/.

The American Association of State Highway and Transportation Officials (AASHTO) is the “Voice of Transportation” representing State Departments of Transportation in all 50 states, the District of Columbia, and Puerto Rico. AASHTO is a nonprofit, nonpartisan association serving as a catalyst for excellence in transportation. Follow us on Twitter at http://twitter.com/aashtospeaks.

Comments are disabled