The Obama administration forwarded its four-year, $302 billion proposal to Congress on Tuesday, April 29.
U.S. Transportation Secretary Anthony Foxx said the longer-term nature of the plan dubbed the “Grow America Act” would provide jobs and certainty to fund transportation projects that states are seeking.
The Congressional Budget Office estimates that without a new bill and new funding for transportation, the Highway Trust Fund could go broke as soon as August of this year.
“Failing to act before the Highway Trust Fund runs out is unacceptable – and unaffordable,” Foxx told reporters via conference call.
“This proposal offers the kind of job creation and certainty that the American people want and deserve. I have been pleased to see that members of both parties are already working together to solve these challenges, and I look forward to continuing our discussion and to supporting and building on the good work that’s already been done.”
The plan would be funded mostly through business tax reforms and would not grow the federal deficit, Foxx said.
In addition to funding, the multiyear plan would also carry out motor carrier safety programs.
Congress can choose to accept the plan, reject it, or incorporate parts of it in other proposals.
OOIDA and Land Line staffs are analyzing the White House draft and will report on issues important to truckers. See related stories on landlinemag.com.