Transportation is a critical engine of the Nation’s economy. Investments in the national transportation network over the country’s history, and especially the last half-century, have been instrumental in developing the world’s largest economy and most mobile society. However, before the beginning of this summer the authorities that establish our surface transportation programs will expire. In the face of the uncertainty in Washington, DC, many States and communities are slowing or stopping work on critical transportation projects that our Nation depends upon to move people, energy, and freight every day, putting jobs at risk and slowing investment in our future.
The Generating Renewal, Opportunity, and Work with Accelerated Mobility, Efficiency, and Rebuilding of Infrastructure and Communities throughout America Act, or GROW AMERICA Act, is a $478 billion, six year transportation re-authorization proposal that provides increased and stable funding for our Nation’s highways, bridges, transit, and rail systems. The Administration’s proposal is funded by supplementing current revenues from the Highway Trust Fund in combination with a 14 percent transition tax on the up to $2 trillion of untaxed foreign earnings that U.S. companies have accumulated overseas. This will prevent Trust Fund insolvency for six years and increase investments to meet national economic goals. More
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