We can now post the prepared testimony of Doug Black, the CEO of Oldcastle Materials, submitted for today’s hearing by the House Transportation and Infrastructure Committee, “Investing in Infrastructure: The Road to Recovery.” Doug makes the point that repair needs have gone unaddressed and the projects are in many cases ready to go, providing stimulus value:
Our surface transportation system is in dire need of significant investment to maintain and preserve the existing system as well as expand its capacity as our nation strives to compete in an increasingly global economy. Our roads are in bad condition and need to be fixed. Over the past several years, road maintenance work has been in steady decline which makes matters worse. Due to this decline, Oldcastle has experienced significant loss of jobs, plant closures and cutbacks in investment and spending in the local economies across the 44 states in which we do business. Much of this maintenance work is already identified and can be let and completed quickly, efficiently and effectively. This investment will support significant local jobs, increase local incomes, generate economic activity and stimulate local economies while preserving our infrastructure and strengthening the long-term competitiveness of our nation. Robust investment in infrastructure is an excellent way to achieve the short and long-term needs in America.
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