| Irving, Texas: Today Congressman Kenny Marchant (TX-24) addressed attendees of the 8th Annual Texas Transportation Summit at the Omni Mandalay Hotel at Las Colinas in Irving, Texas. Marchant, the sole Republican from North Texas on the House Transportation Committee, was a keynote speaker at this morning's session. He spoke about transportation priorities and issues for Texas, as well as the recently passed reauthorization of the Transportation Equity Act for the 21st Century.
"I believe very strongly that investing heavily in our transportation infrastructure is crucial to keeping this nation's place as an economic superpower," Marchant told the crowd.
He also went on to explain the positive economic impact of completing this long-term highway bill: "For every $1 billion invested in transportation infrastructure, an estimated 47,500 jobs are created. If that is not a jobs bill, I don't know what is."
Marchant thanked fellow members of the Transportation Committee from Texas, Congressman Ted Poe and Congresswoman Eddie Bernice Johnson, for their bipartisan cooperation in producing this highway bill. He also thanked former Transportation Committee member, Congressman Michael Burgess, as well as House Majority Leader Tom Delay and fellow North Texans, Chairman Joe Barton and Congressman Sam Johnson, for working together to provide Texas as many benefits as possible in the transportation legislation.
Marchant addressed a provision in the bill that increases the guaranteed rate of return to states on the federal gasoline excise tax from 90.5 to 92 cents on the dollar by 2008. He called getting the guaranteed rate up to 92% a "crucial victory for later states, like Texas, because it tips the scales more in our direction towards equity..."
Marchant also discussed new tolling options for states provided in the bill, including the use of Transportation Development Credits, a provision in which Marchant was significantly involved in getting adopted into the bill. States are granted federal money as credit for the funds they contribute towards transit projects. These credits can be used for other transit and bus projects, but under current law, states are given no credit if a single dollar of federal funds is used towards a toll project. This time around the toll credit calculation takes into account the state level of financial investment in a toll project.
"The fact is that the United States has a 50-year-old highway system put under enormous strain by our growing and increasingly mobile population. This update to highway law provides for yet another creative and flexible tool to help our states come up with solutions to the extremely complex transportation problems they are faced with today," Marchant said of the Transportation Development Credits provision.
He also highlighted a few High Priority Projects that were earmarked in the bill for his district, including $3.2 million for the Grapevine "Funnel Project" and $4.8 million for the reconstruction of 4.35 miles of Lake Ridge Parkway in Grand Prairie. Marchant was able to secure $42.5 million total in federal funding for North Texas transportation projects.
Marchant concluded by previewing what's next for the Transportation Committee. He talked about an upcoming bill reauthorizing the Federal Aviation Administration: "This bill will be especially important to me because Dallas/Fort Worth International Airport is in my district, as are the headquarters for American Airlines. I'm looking forward to digging in next year to try and write a great bill."
CONTACT:
Annie Christian
(202) 225-6605
annie.christian@mail.house.gov |
