Congress Working to Keep the Economy Rolling
This week, the Senate Environment and Public Works Committee marked up its draft surface transportation legislation. The $287 billion bill, more commonly known as the “Highway Bill,” jump-starts a legislative process that will span multiple committees and attract additional proposals from both sides of Capitol Hill.
The bill is expected to be somewhat historic, if perhaps not in size, then at least in some of the policies that will be on-ramped; including for the first time, grants to subsidize electric vehicle charging stations and to encourage adoption of alternative-fuel vehicles.
Just as important as funding new projects, is the longstanding, underlying commitment to update and build out our federal, state and local infrastructure that can fuel the American economy and growth. Demand for alternative fuel vehicles will create jobs in both manufacturing and supply chains. Road construction creates well-paying jobs across a number of contracting fields. And of course, all of this creates a virtuous circle for communities – additional tax revenue and growth in household spending.
The household-spending component is also crucial to members of the American Financial Services Association (AFSA), who provide access to credit for consumers. New jobs and higher wages contribute to consumer confidence and their willingness to invest in everything from new homes to appliances and autos, even a family vacation.
For more than a century, AFSA member companies have been on Main Street, across the nation, helping the American family meet their financial goals. The Highway Bill is an important part of ensuring that the American consumer can meet those goals and that the American economy continues to hum.
August 1st, 2019
