Washington – Business Roundtable today commended the members of the congressional conference committee for approving a joint version of the Fixing America’s Surface Transportation Act and urged Congress to pass the legislation immediately.
The bill authorizes and funds highway programs for five years and includes important provisions to modernize the federal permitting and approval process for major infrastructure projects. The legislation also includes a multiyear reauthorization of the U.S. Export-Import Bank (Ex-Im). All three are Business Roundtable priorities.
“We applaud the conference committee for their good work in completing this important legislation,” said Doug Oberhelman, Chairman and Chief Executive Officer of Caterpillar Inc. and Chair of the Business Roundtable infrastructure initiative. “We urge the House and Senate to pass, and the President to sign, this legislation as quickly as possible so we can get moving to invest in and rebuild our nation’s critical infrastructure assets.”
“In a world where countries are competing like companies for investment, modernizing the federal permitting process and accelerating decisions on major infrastructure projects will significantly advance U.S. economic competitiveness,” said Andrew N. Liveris, Chairman and Chief Executive Officer of The Dow Chemical Company and Chair of the Business Roundtable Smart Regulation Committee. “These reforms can also serve as a model for improving the U.S. regulatory system, and we remain committed to working with Congress and the Administration to see them enacted.”
“Multiyear reauthorization of the Ex-Im Bank will help expand U.S. exports, create jobs and support economic growth,” said Thomas Linebarger, Chairman and Chief Executive Officer of Cummins Inc. and Chair of the Business Roundtable International Engagement Committee. “Given the highly competitive global economy, American businesses of all sizes rely on the Ex-Im Bank to level the playing field in overseas markets.”
The Business Roundtable economic growth agenda calls for tax reform, trade expansion, fiscal stability, infrastructure investment and a smarter approach to regulation – including federal permitting reform – so that America can reach its full potential. Earlier this fall, Business Roundtable released Road to Growth: The Case for Investing in America’s Infrastructure, which details the benefits of U.S. infrastructure modernization for American workers, families and businesses.