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House Democratic Leaders Convene Economic Recovery Forum, Propose Infrastructure Stimulus
October 14, 2008
House Speaker Nancy Pelosi (D-Calif.) convened a forum with economic experts to discuss an economic recovery plan for the nation on Monday. Prior to the meeting, AGC sent a letter to Speaker Pelosi urging her to consider economic stimulus initiatives that will positively impact economic activity, including provisions to boost the construction industry. AGC sent a press release announcing the meeting and AGC's support of infrastructure investment. The letter, press release and a white paper titled The Pivotal Role of Federal Infrastructure Investment in Our Economy, are available here.
At a press conference following the forum, the Speaker expressed her intent for the House to develop an economic recovery package that would include an infrastructure investment component to "rebuild America" among other provisions to provide financial assistance to state and local governments whose budgetary shortfalls may otherwise lead to reductions in public works spending. The Speaker did not offer any specifics of an infrastructure package, but did refer to the bill the House passed September 26, which AGC supported and would have provided approximately $34 billion in additional infrastructure spending. That bill, which passed by a vote of 264 to 158, would have provided $12.8 billion for the federal-aid highway program; $3.6 billion for transit; and $600 million for airport capital improvement projects; along with grants to other major federal construction spending accounts. Speaker Pelosi announced that she would be calling on the appropriate committee chairmen to conduct hearings on various portions of an economic recovery package in the upcoming weeks. It is possible that the House may return for a "lame duck" session in mid-November to act on a package. The Senate has already expressed its intent to return briefly to conduct legislative business during the week of November 17.
For more information, contact Brian Deery at (703) 837-5319 or email@example.com.
The Associated General Contractors of America (AGC) is the leading association for the construction industry. AGC represents more than 26,000 firms, including over 6,500 of America’s leading general contractors, and over 9,000 specialty-contracting firms. More than 10,500 service providers and suppliers are also associated with AGC, all through a nationwide network of chapters.