Senators Kerry, Bailey, Hutchison and Warner have drafted legislation entitled the BUILD Act. The Building and Upgrading Infrastructure for Long-Term Development Act is aimed to help close the country’s widening infrastructure funding gap, while also helping establish the American infrastructure bank.
Senator Wyden is attempting to rebrand and relaunch the Build America Bonds program that ensured a continuing line of credit for states and cities during a fragile financial market. This would help to increase job-creating infrastructure projects.
With the crisis in Japan causing many ports to shut down, the air cargo sector has seen a large rise in demand. This has caused many complications in costs and congestion.
US freight rail lines completed their safest year on record in 2010, reducing the total number of accidents by 3 percent and employee casualties by 14.2 percent.
The House approved a plan to finance the federal government for another three weeks, while cutting another $6 billion in spending. This leads to another vote on April 8 to finalize a larger cut in budgets to finance the government through September 30.
Home construction, a key driver of freight transportation demand, has reached its lowest level since April 2009 and the second lowest since 1946.
Officials from over 30 public transit systems throughout the US spoke to Washington about the lack of funds due to the rising gas prices. Rep. John Mica told these leaders that they would have to be more creative with their operations, as more funding will probably not be in line in the future.
– Ben Dundas, Web Analyst