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September 3, 2010

Clyburn Proposes Stock-Trading Fee to Fund Transportation Programs 

Several transportation organizations were joined Tuesday by House Majority Whip James Clyburn, D-South Carolina, to continue their campaign urging Congress to act on long-term surface transportation reauthorization legislation.

During a press conference at a construction firm in Columbia, South Carolina, Clyburn criticized Congress for failing to act on a surface transportation reauthorization bill and offered suggestions about how a new bill could be funded.

Clyburn was critical of Wall Street and the bailout that troubled financial companies received from the federal government. He proposed a transaction fee of 0.25% on stock trades that could be used to bolster federal highway and transit investment.

"Taxpayers bailed out Wall Street, which is back to business as usual, even paying out exorbitant bonuses. I believe it is time to have Wall Street pay back the taxpayers," Clyburn said. "We shouldn't fund a transportation bill by asking people to pay more at the gas pump, so I am asking that Wall Street repay Main Street."

The Transportation Construction Coalition and the U.S. Chamber of Commerce-led Americans for Transportation Mobility, two national groups advocating for significant new investments in transportation improvements, launched a billboard campaign in South Carolina that encourages Congress to act on long-overdue transportation legislation and encourages citizens to get involved.

Billboard advertisements have been running in South Dakota (see Aug. 20 AASHTO Journal story) and will also be posted in Illinois, Michigan, Tennessee, Iowa, and Maryland this month.

There are a series of different billboard ads asking drivers if they are "sick of bus delays?" or "sick of aging roads?" They encourage drivers to "tell Congress to act" by visiting www.fasterbettersafer.org, where a comprehensive action kit, instructions for contacting members of Congress, educational videos, and other materials about the highway/transit bill are available.

"Our communities can't thrive and our businesses can't grow if they're saddled with potholes and unsafe bridges," said Brian Turmail, a campaign spokesman.

The current federal surface transportation authorization law, known as "SAFETEA-LU," expired nearly a year ago on Sept. 30, 2009. Federal highway and transit programs have been operating under a series of short-term extensions, the latest through Dec. 31. The uncertainty of federal transportation funding has caused many states to hold off on beginning new improvement projects until Congress acts on a long-term reauthorization bill.

The Transportation Construction Coalition, co-chaired by the American Road & Transportation Builders Association and the Associated General Contractors of America, is comprised of 29 national construction groups and labor unions with a direct market stake in federal transportation programs.

Americans for Transportation Mobility is a nationwide effort by business, labor, transportation organizations, and concerned citizens to advocate for increased federal investment in the nation's aging and overburdened transportation system.


Questions regarding this article may be directed to editor@aashtojournal.org.

 
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