Washington – Business Roundtable today applauded House passage of H.R. 3763, the Surface Transportation Reauthorization and Reform Act of 2015.
The bill would authorize highway programs for six years and includes important provisions to modernize the federal permitting and approval process for transportation infrastructure projects. It also includes a multi-year reauthorization of the U.S. Export-Import (Ex-Im) Bank. All three are Business Roundtable priorities.
“We commend the House for approving a long-term reauthorization of U.S. surface transportation infrastructure programs,” said Doug Oberhelman, Chairman and CEO of Caterpillar Inc. and Chair of the Business Roundtable infrastructure initiative. “There’s no doubt the U.S. economy will benefit from a long-term commitment to renew and build the infrastructure that keeps our country moving and moving forward. We will continue to work with Congress and the Administration to ensure a long-term surface transportation bill is signed into law this year.”
“America’s business leaders have long supported ways to modernize the federal permitting process and accelerate decisions on major transportation projects,” said Andrew N. Liveris, Chairman and CEO of The Dow Chemical Company and Chair of the Business Roundtable Smart Regulation Committee. “Smart improvements like these enable international competitiveness, so we are committed to working with the Administration and Congress to see that these reforms – a model for improving the U.S. regulatory system – are enacted into law.”
“By passing a multi-year reauthorization of the Ex-Im Bank, the House has made a powerful statement in favor of U.S. exports, jobs and economic growth,” said Tom Linebarger, Chairman and CEO of Cummins Inc. and Chair of the Business Roundtable International Engagement Committee. “In this highly competitive, global economy, American businesses of all sizes rely on Ex-Im Bank to successfully and fairly compete for sales 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 detailed the benefits of U.S. infrastructure modernization to American workers, families and businesses.