Washington, D.C.—Stephen E. Sandherr, chief executive officer of the Associated General Contractors of America (AGC) today joined U.S. Senators Ron Wyden (D-Ore.) and John Thune (R-S.D.) at a press conference to introduce Build America Bonds legislation that would raise $50 billion over six years for roads, rails, bridges, water and other critical infrastructure projects.
“This proposed legislation offers one more funding option to address the infrastructure crisis, congestion crisis and safety crisis facing our nation,” said Sandherr. “The bipartisan focus on infrastructure investment is welcomed as we face tough choices that will carry our nation forward for the next 50 years.”
The proposed legislation would establish a Commission to provide funding for "qualified projects" such as capital improvements to transportation improvement projects proposed by a state.
Fifty billion dollars would be raised through the issuance of Build America Bonds. The funding would provide a one-time boost in highway and transit funding above the amount the Highway Trust Fund (HTF) currently supports. This is another innovative proposal that has the potential to alleviate congestion, enhance safety, provide seamless freight mobility, and promote economic development opportunities.
The Associated General Contractors of America (AGC) is the largest and oldest national construction trade association in the United States. AGC represents nearly 33,000 firms, including 7,000 of America’s leading general contractors and 11,000 specialty-contracting firms. More than 13,000 service providers and suppliers are associated with AGC through a nationwide network of chapters. Visit the AGC Web site at www.agc.org. AGC members are "Building Your Quality of Life.”