U.S. Rep. Jim Renacci (R-OH) hosted an infrastructure spending round-table discussion on Monday for local officials and key stakeholders at the Carl B. Stokes U.S. Court House in Cleveland.
More than 20 area executives participated in a discussion that highlighted the challenges of local transportation projects, and examined their ideas for future Highway Trust Fund legislation, which will run out of money this spring. The U.S. highway system, while a joint state-federal government collaborative, receives nearly 80 percent of its funding from the federally administered Highway Trust Fund.
“Last year, America’s deteriorating roads cost drivers more than $67 billion in repairs and operating costs, or about $324 per driver,” Renacci said. ““I will not pass on the liability of deteriorating roads and bridges to our children and grandchildren. We need to act now to fix the system; that is why I am working on legislation that allows for the consideration of all viable options so that Congress can get serious about finding a long-term, sustainable solution for the Highway Trust Fund.”
The trust fund currently allocates about $50 billion annually to the states for upkeep of the system.
“It wasn’t that long ago that the economic competitiveness of America’s transportation infrastructure was ranked first in the world,” Former Secretary of Transportation Ray LaHood said. “Now our roads are essentially one big pothole, and tens of thousands of bridges that millions of Americans drive across every day are in dire need of repair. It is past time for action.”