CONTACTS: Linda Rozett/Eric Wohlschlegel
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WASHINGTON, D.C. – The United States Chamber of Commerce announced it would create a study group to evaluate alternative long-term sources of revenue to support the Highway Trust Fund, during a Transportation Summit at Chamber headquarters.

 

“Our roads and highways cannot handle today’s demands – much less the higher demand predicted in the future,” said David Hirschmann, Chamber senior vice president and executive director of the National Chamber Foundation – the U.S. Chamber’s public policy think tank.  “It’s past time to explore new options for funding transportation improvements that will make travel safer and help move our goods more quickly and at less cost.”

 

A National Chamber Foundation study group will oversee a comprehensive investigation into alternatives to supplement the federal fuel tax for financing the Highway Trust Fund over the next 30 years.  The group will make specific recommendations regarding actions and timeline for developing alternative financing options for a March 2005 target release date.

 

The nation’s transportation infrastructure needs far outstrip current Highway Trust Fund revenues, according to the Chamber.  According to the recently released Texas Transportation Institute Congestion index study, traffic congestion is growing across the nation in cities of all sizes, consuming more hours of the day, and affecting more travelers and shipments of goods than ever before.

 

“We have reached a crossroads in the transportation funding debate,” said Edward Mortimer, Chamber director of transportation policy.  “With Congress deadlocked over reauthorization, the need for new solutions is great.”

 

The annual delay per rush hour traveler has grown from 16 hours to 46 hours since 1982, according to the Texas study.  The annual financial cost of traffic congestion has ballooned from $14 billion to more than $63 billion since 1982, and 5.6 billion gallons of wasted fuel was lost to engines idling in traffic jams.

 

The U.S. Chamber of Commerce is the world’s largest business federation representing more than three million businesses and organizations of every size, sector and region.

 

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