AGC supports bonding proposal

The Associated General Contractors of America (AGC) joined with U.S. Sen. Jim Talent (R-Mo.) and Ron Wyden (D-Ore.) in announcing support for their transportation infrastructure bonding proposal. The bonding proposal would supplement funding increases proposed in the reauthorization of TEA-21.

"AGC has been making the case for years that increased highway funding improves our nation's quality of life. These improvements reduce congestion, make highway travel safer and create and maintain jobs--the missing link in our nation's economic recovery," said AGC CEO Stephen Sandherr.

The Talent-Wyden proposal would provide a one-time $50 billion boost to supplement core transportation funding for highways and transit. This is one among many proposals being discussed to increase transportation investment to AGC's ultimate goal of $375 billion over six years. AGC supports several initiatives including recapturing lost ethanol revenue, raising the user fee and others.

"Our preference would be to increase the user fee," said Sandherr. "It is the primary and most effective method for financing these quality of life improvements and the highway trust fund system. We continue to support this proven system and embrace this proposal as an added bonus designed to address our nation's critical infrastructure needs now, rather than pushing our infrastructure deficit on to future generations."