The Assn. of Equipment Manufacturers (AEM) on Friday issued a resolution calling on the U.S. Senate to pass the TEA-21 transportation funding legislation before the next expiration date of May 31, 2005.

TEA-21 will set guaranteed funding levels for highway construction and transit capital investment for the next four years. The legislation will help assure much-needed stability and growth in the transportation construction industry and is also critical to the entire nation's economy, the AEM said. The association is the North American-based international trade group for manufacturers of construction and agricultural equipment and related industry service providers.
AEM pointed out that delays in many transportation infrastructure projects have led to marketplace uncertainties that negatively impact the capital investment decisions of equipment customers. AEM is delivering its resolution to every U.S. senator.
“America needs a multi-year bill to show federal commitment to sustaining the maintenance and repair of our nation’s highway and transit systems. We also need to provide assurance to our machinery customers that funds will be there to allow them to make timely capital investments in new equipment,” stated AEM president Dennis Slater.
This is the sixth extension of TEA-21 transportation legislation, which originally expired on September 30, 2003. Its guaranteed funding levels will represent about half the total money that will be made available for highway and transit capital investment through 2009. In early March 2005 the House approved a bill which would provide $284 billion for these programs. It’s the Senate’s turn to act.
For more information, got to www.aem.org.