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Caterpillar Group President Urges Congress To Develop Legislation To Enhance Infrastructure In United States

Stocks in this article: CAT

WASHINGTON, Jan. 14, 2014 /PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) Group President with responsibility for Customer and Dealer Support Stu Levenick urged Congress today to develop federal surface transportation reauthorization legislation that enhances our nation's infrastructure system and enables companies like Caterpillar to compete globally.

"Caterpillar exports to every region in the world. In 2012, Caterpillar exported over $22 billion in products from the United States. Whether the export opportunities are in our hemisphere or on the other side of the world, the goods we seek to sell must travel through a multi-modal transportation system that includes roads, rail, water and air," said Levenick. "America needs a multi-year surface transportation reauthorization so that we can begin to rebuild our infrastructure and get back on the road to competitiveness."

The federal surface transportation legislation was last authorized under the Moving Ahead for Progress in the 21st Century Act (MAP-21), which was signed into law in July 2012 and expires at the end of September 2014. Despite the progress that this legislation includes, Levenick cited how U.S. surface transportation fails to keep pace with the global marketplace.

"While other parts of the world are integrating and modernizing their infrastructure to meet the economic challenges of the 21st century, we are failing to act comprehensively and decisively," said Levenick. "Our transportation system is the backbone of our economy. However, we are relying on investments made decades ago to sustain our growing and changing economy. We must renew our commitment to this system if we are to ensure our nation's global competitiveness."

Improvements in our infrastructure are also critical for companies like Caterpillar so that they can have a supply chain that supports trade and U.S. exports.

"As one of America's leading exporters, we are keenly aware of the importance of exports for both job creation and economic expansion," said Levenick. "We also understand how absolutely critical it is to have an effective and seamless supply chain if we are to increase exports and maintain our global leadership as a U.S. manufacturer."

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