WASHINGTON, April 29, 2014 /PRNewswire-USNewswire/ -- The Association of Equipment Manufacturers (AEM) is glad to see the Obama Administration proposing reauthorization for a multi-year surface transportation bill and engaging in the vitally important conversation about the future of America's serious need for greatly improved infrastructure.
Rick Patek, AEM Chair and Group President, Aggregate and Mining, Astec Industries Inc., made this statement:
"Overall, we are glad to see today's proposal, and are particularly pleased to see that the Administration has included a funding plan for this multi-year reauthorization. It's moving in a good direction, but our concern, as with all such proposals, is that it does not provide the desperately needed, long-term stable financing solution the country demands. It would, however, expand broadband capacity and streamline project delivery, both of which are critical.
"To plan and make appropriate capital investments in the modernized transportation system that's needed to maintain America's leadership in the global economy, we must have a financing plan that takes us far into the future, much beyond a four-year period. Congress needs to act before the Highway Trust Fund is unable to meet its obligations. We encourage everyone – House, Senate, Administration – to keep this process moving forward and work hard together to craft the long-term solution we must have."
About the Association of Equipment Manufacturers (AEM) - www.aem.org
AEM is the North American-based international trade group providing innovative business development resources to advance the off-road equipment manufacturing industry in the global marketplace. AEM membership comprises more than 900 companies and more than 200 product lines in the agriculture, construction, forestry, mining and utility sectors worldwide. AEM is headquartered in Milwaukee, Wisconsin, with offices in the world capitals of Washington, D.C.: Ottawa, Canada; and Beijing, China.
Anne Forristall Luke, AEM
SOURCE Association of Equipment Manufacturers (AEM)