"Transportation Is Facing Its Own Fiscal Cliff, A Looming Crisis That The Next Congress Will Have To Address"
WASHINGTON, Nov. 13, 2012 /PRNewswire-USNewswire/ -- When Congress returns this week, they have several important legislative issues to take up, including addressing the looming fiscal cliff. But what few realize is there is another fiscal cliff that receives far less attention – the transportation fiscal cliff.
In coordination with the Association of Equipment Manufacturers (AEM), transportation expert Jack Schenendorf explores the benefits of the recently signed, Moving Ahead for Progress in the 21 st Century Act (MAP-21), its shortcomings, and what is at stake for transportation in the coming years. Schenendorf notes: "Since MAP-21 does not address the long-term financial viability of the Highway Trust Fund, transportation will face its own 'fiscal cliff' in the next Congress."
This study, outlining the path forward for infrastructure investment, will be distributed to Members of Congress, Administration Transportation officials and other transportation stakeholders in the coming days. To see the full study, please click here.Schenendorf served on the staff of the House Committee on Transportation and Infrastructure for 25 years – serving as Chief of Staff from 1995 to 2001. As current counsel at Covington & Burling LLP, Schenendorf concentrates on transportation and legislation. He was appointed by the Speaker of the House to the National Surface Transportation Policy and Revenue Study Commission, where he served as Vice-Chairman. 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 850 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. CONTACT: Sara Sendek, AEM 202-898-9064; email@example.com SOURCE Association of Equipment Manufacturers (AEM)