SURFACE TRANSPORTATION: Reauthorization & Reform Act of 2015
Lately, funding for the public transportation infrastructure has been a hot topic. It's not a surprise, since the Surface Transportation Extension Act of 2015 (H.R.3819) is expiring TOMORROW, October 29. On Tuesday, the House of Representatives made the decision to extend the federal funding until November 20. This will allow lawmakers more time to pass the Surface Transportation Reauthorization and Reform Act (STRR Act), a desperately needed long term bill authorizing $325 billion in transportation spending.
What exactly is the STRR Act all about? The purpose of the bill is to authorize funds for Federal-aid highways, highway safety programs, and transit programs. According, to the House this bill will help us spend less time stuck in traffic, facilitate commerce and economic growth, boost our competitiveness, help create jobs and improve our quality of life. All in all, it sounds like a fantastic step in improving the transportation industry. However, the American Public Transportation Association (APTA) have a few concerns regarding some of the proposed changes. Like increasing the Buy America content requirements for rolling stock from 60% to 70% or reducing the maximum government share for a new start or small start project from 80% to 50%.
The STRR Act is a change that the public transportation industry has anxiously awaited for. Like we know, every $1 invested in public transportation infrastructure yields $3 in economic benefits. However, CoachCrafters reminds you that the most important thing you can do is do your research and stay informed with all the changes! For more information visit our website at www.coachcrafters.com.
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