The staffs of the House Transportation and Infrastructure Committee and the Senate Environment and Public Works Committee, both of which have direct jurisdiction over highway programs, have agreed to introduce legislation that, if enacted, would increase funding for the FY 2003 highway program to at least the $27.75 billion level outlined in TEA-21.
"We will devote all of AGC's resources to gain hundreds of co-sponsors for this bill," said Associated General Contractors of America Chief Executive Officer Stephen E. Sandherr. "In these uncertain times, a lack of commitment to national infrastructure investment will have a detrimental impact on long-term fiscal growth, costing our industry jobs and weakening efforts to get the American economy back on track."
The administration's budget request called for highway funding nearly $9 billion below this year's level and $4.4 billion below the TEA-21 authorized level due to an unexpected shortfall in gas tax revenues. Though highway funding would still be about 12.6% below this year's funding level if the legislation is enacted it would equal the amount promised by TEA-21.
