Release Date: Feb 08, 2005Contact: 888-249-NEWS
U.S. Chamber Launches Transportation Study
WASHINGTON, D.C. – The United States Chamber of Commerce launched a new study today to analyze short- and long-term funding options for highway and public transportation investment.
"Current transportation funding is not enough to maintain our current system, much less make improvements," said Thomas Donohue, Chamber President and CEO. "The consequences of an inadequate transportation system are long-lasting and severe – congestion, decreased productivity and more accidents."
Cambridge Systematics – led by Gary Maring – has been commissioned by the National Chamber Foundation to document current transportation needs, estimate revenue streams from existing funding mechanisms, analyze and recommend possible funding options which would reflect the relative use of the highway and public transportation systems by various users.
A steering committee of industry leaders, including railroads, equipment manufacturers, resource materials providers, transportation builders, and other users will oversee the work from Cambridge. The first phase of the study, dealing with short-term funding, is expected to be released in April. The second phase, including a full report on longer-term funding solutions, is expected in late fall.
Investment in transportation is critical to economic growth, international competitiveness, quality of life, environmental protection and national security. For every billion dollars invested in transportation infrastructure, 47,500 jobs are created and businesses experience a $3 billion gain in sales.
The Chamber also announced it would host two policy summits to bring together key decision makers to discuss the study's recommendations.
The U.S. Chamber of Commerce is the world's largest business federation representing more than three million businesses and organizations of every size, sector and region.
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