AED continues to lobby Congress for highway deal, investment incentives
Congress is attempting to reconcile the House and Senate versions of a transportation bill that would fund infrastructure and transit projects across the country. The House's Surface Transportation Reauthorization and Reform Act would fund transportation projects up to six years, though both bills can only currently guarantee funding for the next three.
Though the bills are expected to be reconciled quickly, they do have their differences. The House bill is the only one to contain a measure that raises the air-mile radius from 50 to 75 miles for the transportation of construction materials and equipment as a way of satisfying the 24-hour reset period for drivers required by federal hours of service rules.
The Senate bill is unique in including a ban on using tax-exempt financing to fund water projects that also receive Water Infrastructure Financing & Innovation Authority funding.
AED said a deal should be expected before Dec. 4, when Congress has to come to terms on both a two-year budget deal and an overall government funding package. AED also continues to lobby for higher Section 179 deduction limits and 50 percent bonus depreciation, two previously standard provisions that have since expired. Both allow contractors significant deductions on the new and leased assets.