By Christopher Hopkins, The Saint Consulting Group
Industry leaders are applauding the passage of the “Moving Ahead for Progress in the 21st Century Act, (MAP-21) as the smoke clears to its recent bipartisan approval. National Stone, Sand and Gravel Association CEO Joy Pinniger commented, “This bill will help put the aggregate industry back on the road to economic growth”. She also noted that every $1 million in aggregate sales creates nearly 20 full time jobs.
The bill, which President Obama quickly signed into law, has drawn applause for the bipartisan manner with which this bill was passed. American Road and Transportation Builders Association President and CEO Pete Ruane commended both Republicans and Democrats on Capital Hill for the bill’s passage, “Both Republicans and Democrats deserve a lot of credit for the new surface transportation law the President signed today”.
In one of the few bipartisan efforts in recent memory, Congress last week approved a $120 billion, three-year Surface Transportation Bill by a vote of 74-19 in the Senate and 373-52 in the House.
Road equipment manufacturers are equally excited about this bill as it is estimated that the bill will result in $7.2 billion in new sales and service revenue for equipment distributors.
MAP-21 replaced the last transportation law, SAFETEA-LU, which expired in September of 2009. The resulting nine short term temporary funding bills over the past three years have nearly crippled some aspects of the construction industry and left most states, municipalities and private companies unable to conduct long term capital planning.
Christopher Hopkins is senior vice president for aggregates and mining for The Saint Consulting Group, email email@example.com