DeLauro Statement on the FAST Act

Statement

Congresswoman Rosa DeLauro (D-CT) released the following statement today in support of legislation before the House of Representatives that would reauthorize surface transportation programs as well as the Export-Import Bank:

"The FAST Act is the first long-term road and transit funding bill in 10 years. This long-overdue legislation will help to modernize our nation's crumbling infrastructure by providing critical financing for 21st Century transit projects. This bipartisan bill will provide a five year, $302 billion, reauthorization for highway, bridge, transportation safety, and public transit projects in Connecticut and across our nation.

"Ending short-term gap spending and implementing consistent and predictable infrastructure investments are one of the key ways in which our government can support commerce, economic growth, and the creation of good paying jobs to support the middle class. Every dollar invested in transportation infrastructure returns $3.54 in economic impact. Through the FAST Act, Connecticut will receive a $74 million increase in infrastructure investment for a total of $862 million over five years.

"The bill also includes reauthorization for the Export-Import Bank, which will support the manufacturing supply chain throughout Connecticut and the nation. Domestic businesses should never have to compete with unfair foreign competition with one hand tied behind their back. Since the Bank's charter was allowed to expire this summer, several American businesses have been forced to reconsider their ability to deliver export orders abroad. This reauthorization will help our businesses compete on a more level playing field with foreign exporters.

"However, there is still more work to be done. I am extremely disappointed to see the crop insurance reform rolled back in this bill. The program is archaic and in desperate need of reform. Republicans continue to inaccurately state that cutting crop insurance subsidies hurts American farmers, but what it really hurts are the big insurers who are reaping billions in profits at taxpayers' expense. When so many families are struggling to make ends meet, no industry should be given a guaranteed 14 percent rate of return."

Source