U.S. Chamber's Donohue Calls for Immediate Infusion of Cash to Shore Up Highway Trust Fund

Shortfall Threatens Economic Growth, Development, and Public Safety

WASHINGTON, DC—U.S. Chamber of Commerce President and CEO Thomas J. Donohue issued the following statement today responding to U.S. Secretary of Transportation Mary Peters' announcement that the Highway Trust Fund will run out of cash in the next few weeks:

"Economic growth, public safety, and long-term development plans will be threatened if Congress does not act now to shore up the nearly bankrupt Highway Trust Fund. Congress must quickly approve legislation transferring $8 billion from the General Fund to the Highway Trust Fund or it will go broke. Any reduction or delay in spending would disrupt projects already underway and further delay necessary maintenance, upgrades, and expansion of our nation's infrastructure.

"The Highway Trust Fund has been hammered by a sharp reduction in fuel purchases as Americans drive billions of fewer miles due to high gas prices, depriving the fund of badly needed revenue. Without adequate investments, our crumbling infrastructure will only get worse, increasing congestion and pollution and undermining economic growth and job creation.

"An infusion of cash is only a short-term fix. We must develop a long-term solution when we reauthorize the surface transportation law next year. Every funding option must be put on the table.

"Well-maintained and adequately funded roads and bridges are critical to America's global competitiveness, job creation, the environment, and our standard of living. Delay is no longer an option. The crisis is at hand."

The U.S. Chamber is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.