Investment in transport infrastructure
President Obama has called for a US$302 billion, four-year transportation proposal that would increase and stabilise financing for the Highway Trust Fund.
According to Gregory M. Scott, President and CEO of the Portland Cement Association (PCA), responsible infrastructure investment can have a significant impact on job growth and continuing the nation’s economic recovery.
“America’s cement manufacturers are pleased that the White House recognised the importance of ensuring our nation’s infrastructure serves us now and into the future. Investing in our national infrastructure facilitates economic growth and creates jobs,” said Scott. “In addition to providing leadership on innovative ways to replenish transportation funding reserves, PCA urges the White House to examine new criteria to spend taxpayer money wisely, whether it is by using new and existing materials better or new methods of analysis, both of which will help to maximise our return on investment.”
Scott further commented that using the right materials can improve cost savings and contribute to a better environment. “MIT researchers have found that pavement properties could affect the fuel economy of cars and trucks. If the pavement deflects or bends slightly under traffic loads, cars and trucks are running in a slight depression that increases fuel consumption. Stiffer pavements (such as pavements made from concrete) produce less rolling resistance and better fuel economy.”
Infrastructure to benefit from tax reform legislation
Chairman of The Ways and Means Committee, Dave Camp (R-MI), has released the draft tax reform legislation. In addition to several measures designed to simplify the tax code, the Tax Reform Act of 2014 allocates US$126.65 billion to the Highway Trust Fund.
“We are pleased that Chairman Camp has moved the debate on tax reform from one of theory to one of fact,” said Scott. “A simpler tax code that addresses our nation’s complex needs, such as funding our struggling Highway Fund, is the right thing. America’s cement manufacturers look forward to working with Congress on this historic journey.”
Adapted from press release by Rosalie Starling
Read the article online at: https://www.worldcement.com/the-americas/27022014/us_government_calls_for_investment_in_transport_infrastructure_818/