| Michaud Applauds House Passage of Highway Trust Fund Restoration |
| Monday, July 21 2008 | |
|
WASHINGTON, DC - Today, Congressman Mike Michaud
praised passage of H.R. 6532 which will return to the Highway Trust Fund moneys
that were transferred to the U.S. Treasury general fund in 1998. The bill fills an $8 billion gap in the
Highway Trust Fund. Failure to enact this bill could lead to a devastating $14 billion, or 34 percent, reduction in federal highway investment in FY 2009, which would result in the loss of nearly 380,000 jobs. As a Member of the Transportation and Infrastructure Committee, Congressman Michaud is a cosponsor of this legislation. "A 34 percent cut in each state's federal highway funds would lead to the loss of nearly 380,000 jobs at a time when we are attempting to revive the U.S. economy," Michaud said. "If this bill does not become law, Maine would lose approximately $54 million in state federal highway funds, impacting 1,887 jobs. In Maine, a well-maintained and safe highway system is important to commuters, shippers, and visitors alike." # # # |