As we reported last week on this blog, incoming Republican House leadership is proposing a new rule for the 112th Congress that would strip out guarantees that federal gas taxes be used solely for authorized transportation purposes.
ASCE and our coalition partners have been working to oppose this rule, and while it is still on the agenda, we can see some of our efforts making a difference. Thanks to the quick work of our grassroots advocates who contacted their representatives, Rep. Steven LaTourette (R-OH) offered a compromise amendment to the rule that maintains the current prohibition against using gas taxes for other purposes, but will allow transportation programs to be funded below the authorized level. This amendment is supported by incoming Transportation and Infrastructure Committee Chairman John Mica (R-FL).
Another (troubling) sign that our message is getting out there and that people are realizing the potential consequences of the proposed rule is that Wall Street is having second thoughts about the profit potential in the infrastructure market. UBS this morning downgraded Vulcan Materials from a “buy” to a “neutral” citing potential political problems as the reason. Without even putting the rule into effect yet, this plan is already having negative consequences on the economy. We must reverse this trend.
It’s not too late to act, please contact your member of Congress and let him or her know you oppose this plan. Send an instant message here.