TCC Fly-In Participants bring Reauthorization Message to Capitol Hill

Earlier this week, nearly 400 contractors, suppliers and other construction industry partners participated in the 2013 Transportation Construction Coalition (TCC) Fly-In to deliver the message to Congress that MAP-21 needs to be reauthorized on time and the Highway Trust Fund needs to be fixed. TCC members were armed with charts and issue papers which illustrated how – without new revenue on or before Sept. 30, 2014 – highway and transit funding for new projects would plummet in FY 2015 by 92 percent and, in subsequent years, would be significantly reduced. Fly-in participants thanked Congress for passing MAP-21 and including significant reforms in program administration but also pointed out that the job is not done until the Highway Trust Fund solvency is resolved. The key Congressional leaders of MAP-21 addressed attendees and gave their prognosis for the outlook of a reauthorization moving forward. Senate Environment and Public Works Committee Chair Barbara Boxer (D-Calif.) and former EPW Ranking Member Jim Inhofe (R-Okla.) said that finding a way to pay for increased funding would be a top priority. Sen. Boxer indicated that her committee is ready to work in a bipartisan fashion to identify ways to raise the needed revenue. House Transportation and Infrastructure (T&I) Committee Chairman Bill Shuster (R-Pa.) and Ranking Member Nick Rahall (D-W.V.) also agreed that finding the needed revenue would prove difficult but is a top priority and stressed their intention to work in a bipartisan manner. Transportation Secretary Ray LaHood, who will soon be leaving that position, called for a big and bold bill with $600 billion in funding over five years. He said he expected President Obama to announce a new transportation proposal in the coming months. During a separate AGC briefing, members heard from Congressman John Delaney (D-Md.), who has introduced legislation to offer tax incentives to corporations to repatriate profits they maintain out of the U.S. A portion of the repatriated funds would be used to purchase bonds that would capitalize an infrastructure investment fund that would make loans, loan guarantees and other credit assistance for a variety of infrastructure projects. It is estimated that for every $1 in bonds purchased companies would be able to repatriate $4 tax free.  AGC members were also briefed on immigration and tax reform legislation. For more information, please contact Brian Deery at (703) 837-5319 or deeryb@agc.org.