President Obama is asking Congress for $ 300 Billion to update the nation’s roads and railways. Soy Transportation Coalition Executive Director Mike Steenhoek says he’s pleased to see the President weigh in on the issue and sees that as helpful.
Steenhoek says the President knows to boost the nation’s economy it’s important to invest in infrastructure needs.
The President and Congress don’t want to raise gas taxes to make up for the Highway Trust Fund which is forecast to go broke in early August. Obama is proposing that half of infrastructure funding come from overhauling corporate taxes. Steenhoek sees that as only a short term fix.
Steenhoek suggests Congress look at indexing the fuel tax to the actual cost of road construction. He says as road costs go up or down, that tax could then adjust to it.