AEM pledges $1 million to ensure passage of funding legislation

News AEM June 20, 2003
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The Association of Equipment Manufacturers (AEM) has pledged up to $1 million to match AEM member contributions in 2003 to an i

The Association of Equipment Manufacturers (AEM) has pledged up to $1 million to match AEM member contributions in 2003 to an industry-wide effort to ensure passage of transportation funding legislation at levels adequate to meet the nation's mobility and safety needs. Current TEA-21 legislation expires Sept. 30.


The AEM initiative targets the "Transportation Makes America Work" campaign, which will use a wide array of informational and research tools in a nationwide grassroots effort advancing the need to essentially double federal transportation investment by 2009. This is the aim of proposed legislation by Rep. Don Young (R-Alaska), chairman of the House Transportation and Infrastructure Committee, calling for $60 billion in federal highway and $14 billion in federal mass transit funding.


"AEM's pledge underscores the commitment of the association and equipment manufacturers to obtain necessary funding for a quality transportation system that facilitates the safe and efficient movement of people, goods and services," stated Ron DeFeo, AEM chairman and chairman and CEO of Terex Corp., Westport, Conn.


"Because federal funding accounts for almost 45% of annual highway and bridge capital investment in the U.S., it plays a significant role in the business stability and growth of contractors, distributors, manufacturers and others connected to this industry segment," noted DeFeo. "Continued and adequate federal transportation funding directly affects the ability of the construction industry to be a positive contributor to the national economy, providing jobs and paying taxes."


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