Engineering Inc. - September/October 2008 - (Page 10)

LEGISLaTIvE aCTION FROM aCEC’S GOvERNMENT aFFaIRS DEPaRTMENT ACEC AdvoCAtEs InfrAstruCturE InvEstmEnt; PrEsIdEnt Bush sIgns ACEC’s studEnt LoAn forgIvEnEss for EngInEErs ACEC urging Infrastructure funding in Possible second stimulus Package ACEC is emphasizing to House and Senate leaders the importance of including a strong infrastructure component in any second stimulus package. Congressional leaders are considering a second bill in an attempt to stimulate economic growth. The draft bill includes billions in funding for “ready-to-go” transportation and infrastructure projects. A vote could occur in September, following months of job losses, rising energy costs and food prices, and increasing concerns about a lackluster economy. Earlier in the year, ACEC and industry allies lobbied to add $5 billion in infrastructure investment during the debate over the first stimulus package. To expedite passage at that time, White House and congressional leaders did not include infrastructure funding in the bill. Bush signs Into Law student Loan forgiveness for Engineers President Bush signed into law last month legislation that will provide up to $10,000 in student loan forgiveness for engineers. The Higher Education Reauthorization and College Opportunity Act of 2008 extends various federal student aid programs, and also creates a new program to provide financial assistance in areas of “national Ed Mulcahy need.” ACEC ensured that the bill included engineering. The provision was modified from earlier legislation introduced by Rep. Emanuel Cleaver (D-Mo.)—the Strategic Technology/Engineering Program Act (H.R. 3634)—which seeks to create a broader loan forgiveness and scholarship program to encourage more young people to pursue engineering careers. “This is a critical step in reversing the decline in the number of engineering graduates in the United States,” said former ACEC Chairman and current College of Fellows Chairman Ed Mulcahy of TranSystems. Mulcahy was the inspiration behind ACEC’s drive to develop and pass legislation. 10 ENGINEERING INC. SEPTEMBER / OCTOBER 2008 highway trust fund fix Advances The House approved legislation backed by ACEC and its industry allies to ensure the solvency of the Highway Trust Fund and avoid a devastating cut to state highway program funding. The trust fund shortfall is now under consideration in the Senate, where identical language has been included in several bills. The bill, which passed the House by a wide, bipartisan margin of 387-37, transfers $8 billion from the Treasury to the Highway Trust Fund, essentially returning revenues that were transferred out of the trust fund and into the general fund in 1998. “The House vote was a huge win and a clear indication that Congress is listening to us on the importance of correcting the trust fund solvency problem,” said ACEC President Dave Raymond. “It’s also an indication that our strong grassroots lobbying works, as thousands of ACEC members called or wrote support letters to their members of Congress about this issue.” The Highway Trust Fund is facing a projected deficit in the next fiscal year because of lower-than-expected revenues and emergency outlays. The shortfall would lead to a 34 percent cut in funding guaranteed to the states under SAFETEA-LU. The 387-37 House vote came despite a veto threat from the White House. Action now moves to the Senate, where ACEC is working closely with lawmakers to gain final passage. house Clears ACEC-Backed Bridge Inspection and repair Bill The House approved ACEC-supported legislation to improve the nation’s bridge inspection, rehabilitation and repair programs. The National Highway Bridge Reconstruction and Inspection Act (H.R. 3999) authorizes $1 billion for fiscal year 2009 for the Federal Highway Administration’s Highway Bridge Program. The bill includes a key Council recommendation that requires the Department of Transportation (DOT) to develop a new riskISSuES ON ThE MOvE Infrastructure stimulus package highway Trust Fund solvency Loan forgiveness for engineering students Comprehensive energy package WhaT’S NExT house, Senate action in September Final congressional action in September Funding for the new program to be considered in 2009 Possible congressional action before November

Table of Contents Feed for the Digital Edition of Engineering Inc. - September/October 2008

Engineering Inc. - September/October 2008 Contents From ACEC to You News & Notes Market Watch Legislative Action Decision '08 Managing Risk in a Multidiscipline World Healthy Designs Taking the Next Step Business Insights 2008 Fall Conference Primer Members in the News One On One

Engineering Inc. - September/October 2008

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