CONTACTS: J.P. Fielder
(202) 463-5682 / 888-249-NEWS

 

July 30, 2008

 

 

WASHINGTON, D.C.—Ahead of the one year anniversary of the tragic I-35W bridge collapse in Minnesota, U.S. Chamber of Commerce President and CEO Tom Donohue called on the country's policymakers to increase federal investment in the nation's transportation infrastructure.

 

"Investment in the nation's transportation system will ensure the U.S. can compete in a rapidly growing global economy," Donohue said. "It will also provide a big shot in the arm of our economy, create jobs, lead to cleaner air, reduce our dependence on foreign oil, and save innocent lives."

 

The bridge collapse in Minnesota serves as a critical reminder of how dependent local and national economies are on the nation's infrastructure. After the collapse, the Minnesota Department of Transportation found the collapse cost the state's economy $17 million in 2007 and $43 million in 2008. Currently there is an annual gap of over $50 billion in funding to maintain the nation's highways and transit systems and an average annual gap of $100 billion to improve these systems.

 

Last week the U.S. House of Representatives approved $8 billion for the Highway Trust Fund that would, if passed by the Senate, restore temporary solvency to the federal account.

 

"This was an important step but it does not address the long-term problem," Donohue said.  "In 2009, the nation's core surface transportation program will be up for reauthorization and we must ensure the next Congress and president understand the critical need to improve and expand America's roads and bridges.  Failure to lead on this issue will damage our ability to compete in a global economy. And that's inexcusable."

 

The U.S. Chamber is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.

 

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