Ranking T&I Republican Favors VMT
Chairman of the House Transportation & Infrastructure Committee, Peter DeFazio (D-Ore.) noted his intent to introduce legislation to provide a short-term fix for the Highway Trust Fund. At a Mar. 7 House Ways and Means Committee hearing, he laid out why his proposal—which would authorize 30-year Treasury bonds and whose proceeds would be deposited in the Highway Trust Fund and repaid by increasing the fuel taxes by no more than 1.5 cents per year—makes the most sense from a practical and political standpoint. Ranking Member Sam Graves (R-Mo.) also testified on his interest in focusing on a vehicle miles traveled fee as a long-term solution, while acknowledging something needs to be done in the short-term. AGC will continue to work with leaders in Congress and our industry stakeholders to work on efforts to address the funding crisis facing the Highway Trust Fund.
The heads of the U.S. Chamber of Commerce, the AFL-CIO and the American Trucking Associations also testified at the hearing. Each organization called for an immediate increase in federal motor fuels taxes to fill the projected $18 billion gap soon to face the High Trust Fund.
For more information, contact Sean O’Neill at [email protected] or (202) 547-8892.
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