'New and Improved’ Grow America Act Coming Soon, Foxx Says
WASHINGTON — An Obama administration six-year, $478 billion legislative proposal that would boost capacity along roadways to reduce freight bottlenecks will be unveiled in the coming weeks, Transportation Secretary Anthony Foxx told House transportation lawmakers on Feb. 11.
To avoid a slowdown of state-level transportation projects that would affect the trucking and construction sectors, the secretary urged the House Transportation and Infrastructure Committee during a high-profile hearing to adopt the White House’s “new and improved” plan. The plan would be financed with revenue from a one-time 14% tax on earnings that U.S. corporations have kept overseas, a funding proposal revealed in the fiscal 2016 budget the White House sent to Congress last week.
Federal funding authority for transportation projects runs out at the end of May, and Republican congressional leaders have yet to say whether they will back the administration’s plan or unveil their own approach.
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There’s broad agreement among lawmakers that a multiyear highway bill is needed to ensure economic stability around the country, and even a small bipartisan group of members has proposed raising fuel taxes to fund the highway system. A gas tax hike has not been endorsed by a majority of lawmakers.
The Transportation Committee's ranking Democrat, Rep. Peter DeFazio of Oregon, asked Foxx at the hearing if the White House would sign off on increasing taxes on diesel and gas fuels. Foxx replied: “We very openly said to Congress that if there are other ideas that emerge, we are willing to hear those ideas and consider them. We haven’t taken any other pay-for off the table and to my knowledge we will not.”
Since 2008, Congress has transferred nearly $50 billion from the general fund to the Highway Trust Fund.
Look to the Feb. 16 edition of Transport Topics for additional coverage of Foxx's appearance.
