AED’s McGuire: Highway bill means $13 billion for equipment market
Brian P. McGuire, president and CEO of Associated Equipment Distributors, issued the following statement after the Senate’s passage of the Fixing America’s Surface Transportation (FAST) Act (H.R. 22).
“After so many near misses and close calls, so many cans kicked down the road and so many cliffs narrowly averted, we finally have long-term, fully funded highway legislation. The FAST Act is the culmination of more than a decade’s worth of effort by AED and its industry allies. Thanks in particular to all the equipment industry leaders who kept the political pressure on Congress to get the job done.
"This is more than a philosophical victory. Equipment dealers, manufacturers and their customers can now once again plan for the future. Over the next five years, the hundreds of billions of dollars in federal highway and transit investment guaranteed in the bill will stimulate more than $13 billion in equipment sales, rental and maintenance activity and support more than 4,000 dealership jobs each year.
The FAST Act is a major victory for transportation advocates and we thank Speaker Ryan for making it the top priority during his first weeks in office. But our work isn’t finished. AED will continue to press Congress to create new, sustainable revenue streams for the Highway Trust Fund to ensure the chaos surrounding the program in recent years is an historical aberration and not the new normal.”