Two-hundred fifty Chamber of Commerce executives from across the country wrote to Congress asking it to address the near insolvency of the Highway Trust Fund by passing a long-term transportation bill.
鈥淲ithout a sustainable source of funding, the trust fund will be in a deep deficit that will require major cuts in federal highway and transit funding or a potential halt of the entire federal transportation program,鈥 said the March 3 letter from the executives at Chamber of Commerce affiliates in all 50 states.
Such cuts would jeopardize much-needed economic and job growth in cities and regions, said the letter, which听noted many states already have halted projects.
Congress extended the existing transportation funding law until May 31, but without another extension or a new funding law by then, federal transportation funding will end.
鈥淲e represent businesses of all sizes that form the backbone of the nation鈥檚 economy,鈥 the letter鈥檚 signers said.
鈥淥ur business members know a reliable and resilient transportation network is vital to construction employment, getting other workers to their jobs, ensuring efficient and cost-effective freight delivery and providing residents with an outstanding quality of life, which is critical to attracting a talented workforce.鈥
A long-term bill should contain such things as federal funding that is flexible when it comes to supporting all modes of transportation and expanded loan programs to states and cities looking to build projects, the letter said.
A new transportation law听also听should 鈥渟upport a comprehensive and strategic approach to move freight by providing a strong emphasis on intermodal solutions that target the very worst bottlenecks to create more reliable and efficiently interconnected highway, rail, port and airport networks,鈥 the letter added.
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