PASSAGE OF TRANSPORTATION BILL A VICTORY FOR CONSTRUCTION WORKERS, COMMUTERS, SHIPPERS AND THE ECONOMY, OFFICIAL SAYS

CEO of the Associated General Contractors of America Urges Congress to think of Measure as Start of a Longer Term Process to Address Transportation Funding Challenges

WASHINGTON, D.C. – July 2, 2012 – (RealEstateRama) — The chief executive officer of the Associated General Contractors of America, Stephen E. Sandherr, issued the following statement today in reaction to Congressional passage of a 27-month highway and transit measure:

“The passage of the 27-month transportation bill ends nearly three years worth of temporary extensions that have made it increasingly difficult for state and local officials to plan for, fund and execute major new infrastructure projects. The new highway and transit bill should allow construction to finally begin on many long-delayed, yet vital, projects. In addition, this bill will make it easier for a host of long-contemplated projects to move through a regulatory review process that until now was hopelessly inefficient.

“The members of Congress that worked so hard to craft this measure understand that the benefits to our economy from infrastructure investments are too important to be undermined by legitimate disagreements over a handful of policy questions. Indeed passing this measure is a significant victory for construction workers, commuters, shippers and the economy.

“Today’s legislative accomplishments must be seen, however, as the start of a broader effort to address the long-term funding challenges that still threaten the federal transportation program. That is why we look forward to resuming work on an even-longer term transportation measure that includes key revenue reforms as soon as Congress returns later next month.”