| This week, the U.S. Department of Transportation transmitted to Congress the 2015 version of the GROW AMERICA Act – their surface transportation reauthorization proposal. The bill is very similar to the one that was sent to Congress last year, with the major exception being the length and levels of funding.
The new GROW AMERICA Act 2.0 is a six-year, $478 billion bill which includes $317 billion for highways – a 29 percent increase above current levels and $116 billion for transit - an increase of 76 percent. The proposal would fund highways and transit with $240 billion of fuel tax revenues and $238 billion from a new mandatory 14 percent transition tax on corporate foreign earnings. Like the previous bill, it would remove the current prohibition on tolls on exiting interstate highways and allow state and other public agencies to implement variable priced tolls on existing roads, bridges and tunnels for congestion management. Other highlights include continued funding for the TIFIA program, increasing the volume cap on Private Activity Bonds from $15 billion to $19 billion, and continuing efforts to improve project delivery and the federal permitting and regulatory review process. The bill also includes proposals opposed by AGC, including allowing local-hiring preferences on feral-aid highway and federal transit construction projects. AGC is pleased that the administration has recognized the need for increasing investment in our transportation network. We look forward to working with Congress and the administration to pass a well-funded multi-year surface transportation reauthorization bill that reflects the best interests of the country and the construction industry. For more information, please contact Sean O’Neill at oneills@agc.org or (202) 547-8892. Return to Top |
 |