“The effects of these cuts proposed by the Administration would be severe to our state’s transportation needs,” said Ross, a cosponsor of H.R. 3694.  “Infrastructure is one of the key components to economic development, and in a poor and rural state like Arkansas, building good roads is essential to attracting new businesses and industries to our area.  These dollars are critical not only to the ongoing repair work and improvements to our existing highways, but also to the progress on important projects like I-49, I-69 and I-530 that will have a great economic impact on our state.” 

The Transportation Equity Act for the 21st Century (TEA-21), enacted in 1998, guaranteed  $27.6 billion as a minimum level for highway funding across the nation for fiscal year 2003.  However, in the President’s budget for 2003, the Administration has proposed only $23.2 billion in federal highway funds.  The Highway Funding Restoration Act adds $4.4 billion to the amount proposed by the Administration, bringing highway funding for 2003 back to the $27.6 billion minimum level specified by TEA-21.  Under the President’s plan, Arkansas would receive $275.5 million.  With this bill, that amount would be restored to $328 million.

“Every billion dollars in highway funding translates into roughly 40,000 jobs.  Restoring this funding means more jobs and economic opportunities for people in Arkansas,” Ross said.

The Highway Funding Restoration Act is expected to pass the House this evening, and will then proceed to the Senate.