NRMCA Reports on Rumblings on a Potential Infrastructure Bill
With the prospect of a new, politically divided Congress, infrastructure is getting a bit of attention as a potential bipartisan effort.
National Academies of Science, Engineering and Medicine - On Thursday, December 6, the National Academies of Sciences, Engineering and Medicine issued a report on the highway infrastructure challenges facing the country. The report, directed by Congress, identifies the impending challenges to national infrastructure as including rebuilding of the highways system’s pavements and bridges, meeting demand for expanded capacity, and ensuring that infrastructure is resilient and resistant to weather and climate change. Among the recommendations posed by the report is an immediate increase in the gas tax, pegging future gas tax increases to inflation, lifting restrictions in tolling federal interstates and exploring demand management capabilities. You can read the report here.
House Pilot Project on Vehicle Miles Traveled - Last week, incoming House Transportation and Infrastructure Chairman Peter Defazio (D-OR) said that he would begin work on a vehicle miles traveled (VMT) pilot project. The VMT is widely viewed as an alternative to the federal gasoline tax that better takes into account use of the roads and emerging technologies such as electric vehicles. Outgoing Transportation and Infrastructure Chairman Bill Shuster’s (R-PA) infrastructure proposal also included a VMT pilot program as a potential replacement for the gas tax.
House $300 Billion Infrastructure Proposal - Finally, on Monday, December 10, it was reported that Rep. John Yarmouth (D-KY), likely the next House Budget Committee chairman, will introduce a plan for $300 billion in infrastructure investment by selling 40-year bonds to capitalize an infrastructure bank. The bonds would be sold exclusively to public and private pension funds and the revenue would be used to finance a national bank that would extend loans for infrastructure projects.
NRMCA and NACA on the Hill - While it is yet to be determined how serious the Democratic House is about working with a Republican Senate and with President Trump, the rumblings on a potential infrastructure investment are some cause for optimism. NRMCA, in coordination with other members of the North American Concrete Alliance (NACA) are continuing to meet with staff for Rep. Defazio, Sen.Charles Schumer (NY) and other congressional offices that will play a critical role in the formulation of an infrastructure package.
For more information, contact Andrew Tyrrell at firstname.lastname@example.org.