August 14, 2008
Congress, White House, and AGC Leaders Discuss Energy Policy
On Tuesday, AGC Leaders met with President Bush to discuss energy policy and the impact of rising construction materials prices. AGC President, Douglas E. Barnhart (J. Reese Construction, Inc; San Diego, Calif.) and Stephen E. Sandherr, AGC CEO joined business leaders from the Coalition for Affordable American Energy (CAAE) to discuss the impact of the rising cost of energy on their industries and their businesses, and to urge Congress to remove the Congressional ban on offshore drilling. AGC leaders specifically addressed the increase in construction materials costs which are resulting in a reduction in projects and causing job uncertainty in the industry. Bush said that the activities of the coalition, "have worked to increase the pressure on Congress."
June 12, 2008
New Highway Trust Fund Solvency Plan Proposed – Action Needed
A bipartisan group of Senators today announced a new plan to address the projected Highway Trust Fund revenue shortfall in fiscal year 2009. Earlier this year, the Bush Administration projected a revenue shortfall in the Highway Account of the Highway Trust Fund of about $3.7 billion, which, if not offset, would require a reduction in states’ federal highway funding of about $14 billion or 34 percent below the level guaranteed in SAFETEA-LU for fiscal year 2009. Moreover, given recent government data reporting a historic decline in vehicle miles traveled, due largely to a drop in driving in response to high gas prices, it is possible that revenue into the Highway Account may erode further.
May 8, 2008
Debate on FAA Reauthorization Postponed – HTF Fix Not Completed
Senate Majority Leader Harry Reid (D-Nev.) Tuesday pulled the Federal Aviation Administration (FAA) reauthorization bill from Senate consideration after a failed attempt to end a filibuster over concerns about non-aviation related items in the bill. It remains uncertain at this time whether there will be an attempt to work out a compromise and bring the bill back up for consideration at a later date. Authority for the aviation taxes has been temporarily extended until June.
