Wednesday, March 02, 2011
Chamber Supports Protecting and Enhancing Transportation Funding
Maryland Chamber President/CEO Kathy Snyder, CCE urged the House Ways & Means Committee to protect Maryland’s Transportation Trust Fund (TTF) and increase transportation funding by at least $600 million.
“Investing in our transportation infrastructure will create jobs and help keep Maryland competitive,” Snyder said. “Infrastructure investments are investments in Maryland’s economic development and quality of life.”
Protection of Maryland’s Transportation Trust Fund is essential to the maintenance and improvement of Maryland’s infrastructure, roads, bridges, highways, ports and rails. The business community relies on an effective, efficient and reliable transportation network to provide goods and services. Without additional funds going to the TTF, Maryland’s economic development, quality of life and environmental health will suffer.
Snyder testified yesterday supporting legislation with amendments. The bill, HB 1001, would:
1. Establish a Constitutional Amendment to create a lockbox to ensure TTF funds can only be used for specified transportation purposes.
2. Increase the gas tax by 10 cents, effective July 1, 2011.
3. Increase vehicle registration fees by 50 percent.
4. Index the gas tax to the Cost of Construction Index, not to increase by more than one cent per gallon per year.
The Maryland Chamber also urged lawmakers to find long term funding sources, including review of transit funding options and an increase to MTA’s fare box recovery. To see the full position statement click here.
The Senate Bill (SB 714) is scheduled for hearing on March 9 at 1 p.m. For more information on this bill, contact Allyson Black at .(JavaScript must be enabled to view this email address).
In the video below, Snyder explains why protection of the Transportation Trust Fund is important to Maryland.
