Transportation is critical to economic growth, however, economic growth is critical to fund the ever changing needs of our transportation system. One cannot exist without the other. The imminent threat of Highway Trust Fund insolvency combined with this paradox is the root of intense debate and discussion in Washington, DC and among key players in the transportation industry.
According to US Department of Transportation, sixty five percent of Americas major roads are rated “less than good” condition, while one in four bridges require significant repair or cannot handle todays traffic and 45 percent of Americans do not have access to transit.
One of the proposed solutions to this challenge is The GROW AMERICA Act, a six-year bill that would increase investment for our nations highways, bridges, transit, and rail systems by 45%. The proposal is funded by supplementing current revenues from the Highway Trust Fund in combination with a 14 percent transition tax on an estimated $2 trillion of untaxed foreign earnings that U.S. Companies have accumulated overseas.
Critical investments are needed to help communities keep pace with our expanding economy, our growing population, and the traveling needs of the public. This animated video explains the key features of the GROW AMERICA Act and why we need to move forward on a long-term surface transportation bill.
How would you address the funding challenges in our transportation infrastructure?
For more information on this proposed bill and other transportation topics, please visit www.transportation.gov.
photo credit: 2008 06 09 – 3057 – Baltimore – I-895 at Moravia Rd via photopin (license)