Associated Equipment Distributors (AED) Vice President of Government Affairs Christian A. Klein released the following statement in connection with today’s Senate Environment & Public Works Committee hearing on the fiscal crisis facing the federal Highway Trust Fund (HTF). Experts project hundreds of billions of dollars in user fee revenue shortfalls over the next two decades and the HTF won’t be able to support new highway investment in 2015, putting the entire $41 billion federal annual highway program and more than $2 billion in related construction equipment market activity at risk.
“We commend Chairman Boxer both for continuing to ring alarm bells about the crisis facing the federal highway program and offering bold solutions like a new gasoline sales tax. With ’year zero’ looming in 2015, it’s time for Congress and the president to stop hitting the snooze button and take swift, decisive action to ensure the HTF’s long-term solvency. We look forward to working with all concerned to put the HTF back on solid fiscal footing and restore certainty to federal highway and transit investment.”