ARLINGTON, Va., June 18, 2014 /PRNewswire-USNewswire/ -- American Trucking Associations officials hailed a proposal by Sens. Chris Murphy (D-Conn.) and Bob Corker (R-Tenn.) to raise and index the fuel tax in order to preserve the "user pays" principle and keep the Highway Trust Fund solvent.
"We have long said that the fuel tax is the fairest, most efficient way to fund our nation's infrastructure and this practical, bipartisan proposal put forward by Senators Murphy and Corker would put the Highway Trust Fund on the path to solvency and provide the revenues we need to maintain a 21st Century transportation network," said ATA President and CEO Bill Graves.
The Murphy-Corker proposal would raise the fuel tax six cents a year over two years, then index the tax to the Consumer Price Index in order to retain its purchasing power. The fuel tax has not been raised since 1993, over which time the revenue it generates has lost nearly half its buying power.
"ATA believes a well-funded, well-maintained transportation system is essential for safety and for economic growth," said ATA Chairman Phil Byrd, president of Bulldog Hiway Express. "While we have been looking for acceptable alternatives to the fuel tax, we believe it is still the best way to generate the revenue we need to repair and maintain our roads and bridges."
"This spring, ATA endorsed a package of funding options – including indexing the fuel tax – to bolster infrastructure investment," said former ATA Chairman Dan England, chairman of C.R. England and of the ATA task force that crafted the association's highway funding options. "We are pleased to see Senators Corker and Murphy step forward with a bold vision on how to address our infrastructure needs and we encourage the House and Senate to quickly adopt their proposal."
American Trucking Associations is the largest national trade association for the trucking industry. Through a federation of 50 affiliated state trucking associations and industry-related conferences and councils, ATA is the voice of the industry America depends on most to move our nation's freight. Follow ATA on Twitter or on Facebook. Trucking Moves America Forward
SOURCE American Trucking Associations