Restoring Highway Trust Fund Balance
Madam President, I ask unanimous consent that the Finance Committee be discharged from further consideration of H.R. 6532, and that the Senate then proceed to its consideration; that the only amendment in order be the Baucus amendment…
Madam President, I ask unanimous consent that the Finance Committee be discharged from further consideration of H.R. 6532, and that the Senate then proceed to its consideration; that the only amendment in order be the Baucus amendment which is at the desk; that the amendment be considered as agreed to and the motion to reconsider be laid upon the table; and that there then be 90 minutes of debate with respect to the bill, as amended, with the time equally divided and controlled between the leaders or their designees; and that upon the use or yielding back, the Senate proceed to vote on passage of the bill, as amended, without further intervening action or debate.
Madam President, this is an important moment for us, not just for us as legislators acting responsibly but for our States and for the working people of this country. We were perilously close to having a shortfall in the highway trust fund which would have resulted in slowing down contracts on repairing bridges, building highways, et cetera. Six times the Senate has brought up legislation to restore money to the highway trust fund and protect those jobs, but until now my Republican friends on the other side of the aisle have put up roadblocks and filibustered us.
Today, at a hearing we held on the status of our bridges, the condition of our bridges, the Bush administration itself urged us to act. I was very grateful to Senator Inhofe for his work. Because we have been facing objections from Senators DeMint, Gregg, and others, we were unable to move forward. We are very grateful we have reached this moment so we may vote on this important legislation and solve the immediate crisis.
We all know what has been happening with the trust fund. First, $8 billion was borrowed from the trust fund in 1998. We need to restore those funds. That is what we are doing today. Beyond that, we have to figure out a way to finance highways and transit systems and repair bridges and the rest with a more secure source of funding. Senator Inhofe and I are working together on that, along with Senators Isakson, Baucus, and the rest of the members of the Environment and Public Works Committee. We know our colleagues in the House are doing it as well. We are going to have to look at how we keep pace with the many billions of dollars needed for repair. We have to make sure we pay attention to our Nation's infrastructure if we care about a thriving economy, moving goods, moving people, all the rest. If we ignore this, it is to our detriment. We saw a bridge collapse in Minnesota. We were reminded of that today at the hearing. All of us were appalled to see what that looks like. I know bridges in California, in Oklahoma, bridges all over the country are in need of repair. We can't play politics. That is why we have been on the Senate floor. We have sent letters, asked our friends to back off. If they want to make a statement about how to fund transit and highways, that is very appropriate as we write the new highway bill.
What is happening out there is, obviously, because of the horrible price of gas, which, thank goodness, has come down a little bit, people are turning away from driving or they are doubling up. They are switching to hybrid cars. Hopefully, soon we will see more opportunities for electric cars. As a result, however, the trust fund, which gets its funding from the gas tax, has been going down. That, coupled with the borrowing that we did in 1998 from the trust fund, has led us to this day.
I don't have much more of a statement except I want to thank certain people who weighed in to push us and my friends on the other side. I hope they were pushed by this to back off and say: Let's have a clean bill. Let's fix the problem. Then we will debate how we get a highway trust fund that is necessary for the needs of the country.
AAA was very helpful, as was the American Association of State Highway and Transportation Officials; the American Society of Civil Engineers; the American Road and Transportation Builders Association; the American Highway Users Alliance; the American Trucking Association; the Associated General Contractors of America; the National Association of Counties; the National Association of Manufacturers; the National Governors Association; the National Conference of State Legislatures; Midwestern Governors' Association; the Coalition of Northeastern Governors; the Transportation Trades Department, AFL-CIO; the U.S. Chamber of Commerce.
Again, what we are doing is simply restoring the revenue that was shifted out of the trust fund 10 years ago when the balances were high. What we are doing is saying to many working people that we are not going to let them run the risk of being laid off, fired, having to come home and tell their family they can't work. We know that is a fact because each billion dollars of
Federal funding is estimated to support 34,000 jobs. If we didn't act on this and that $8 billion was not restored, we would have lost 379,000 jobs all across America; in my own State, 32,000 jobs. This is not the time to play games. In August, we lost 84,000 jobs in America. Imagine if we had added another 379,000 lost jobs.
Today, through the wonders of communication I can say to State and local officials watching us have confidence that the flow of funds to build and operate transportation systems, to build highways and bridges, to make sure communities are insured, those funds are going to be there. Again, as we move behind this crisis, I do look forward to working with my colleagues on both sides of the aisle. Senator Inhofe and I, Senators Baucus and Isakson, we call ourselves the big four of the committee. We have met. Our staffs are meeting every day. We are meeting. We are coming up with principles, what is the fair way to fund infrastructure needs. These meetings have been very important. They are not ideological. They are only business. How do we take care of business? That means moving goods, people, keeping the country going. I can't tell my colleagues how pleased I am that we can have the opportunity today to vote on a clean bill, simply restoring the $8 billion that was borrowed from this fund and sending a signal to the 300,000-plus people who would have lost their jobs, at least this is some bit of good news for them in what has been a very bleak economy.
I yield the floor and reserve the remainder of my time through the leader's office on our side.
Amendment No. 5427
(Purpose: To change the date of restoration.)