NASBP Learns of Transportation Issues that Business Community Plans to Advance
On February 13, NASBP attended the U.S. Chamber of Commerce Transportation Infrastructure Summit of 2013 to learn the transportation initiatives the business community and elected officials plan to advance in the 113th Congress. Tom Donohue, President & CEO of the Chamber, kicked off the Summit by calling for a higher gas tax to pay for the necessary repairs of the nation’s crumbling Infrastructure. The Chamber’s position, however, may prove to be politically unpopular with some on Capitol Hill and elsewhere. Donohue noted that the last time the gas tax was raised was in 1993 and that he views the gas tax increase as a critical component to fund necessary repairs to our nation’s transportation infrastructure, such as roads, bridges, highways, and waterways to keep America competitive in the expansive global economy.
Donohue also stressed the importance of enacting Public-Private Partnerships (P3) legislation in the states, which thus far, according to Donohue, includes 33 states. NASBP supports P3 legislation provided that the necessary statutory bonding requirements are in place. Preceding Donohue was the Chairman of the House Transportation & Infrastructure Committee, Bill Shuster (R-PA 9th). Chairman Shuster, unlike his predecessor, Chairman John Mica (R-FL-7th), who did not support an increase in the gas tax, indicated that all options for funding highway and other infrastructure projects are “on the table.” The Chairman warned that the American transportation system may have reached its “tipping point,” and there is great fear that the U.S. may fall behind the rest of the world unless this issue is addressed and solved. The Chairman did note that payment systems based on vehicle-miles-traveled are unpopular, and privacy advocates are particularly troubled with placing transponder devices in cars to record mileage data. Congress will need to reauthorize a surface transportation package in September 2014. NASBP will keep the membership apprised of any new developments as this debate continues.
The “Security in Bonding Act” Reintroduced as H.R. 776
NASBP has identified advancing the “Security in Bonding Act of 2013” as its number one priority in the U.S. Congress. NASBP is pleased to report that U.S. Representative Richard Hanna (R-NY-22nd ), at the request of NASBP and Surety & Fidelity Association of America (SFAA), has reintroduced the “Security in Bonding Act” as H.R. 776. Sam Graves (R-MO-6th), Chairman of the U.S. House Small Business Committee, has signed on as a cosponsor. H.R. 776 was referred to the House Committees on Judiciary and Small Business. As introduced, H.R. 776 requires individual sureties to pledge solely those assets described as “eligible obligations” by the Secretary of the Treasury and to deposit them in the custody and control of the federal government.
H.R. 776 also includes a provision that increases the guarantee to 90% for those surety companies who participate in the Preferred Program of the U.S. Small Business Administration’s Surety Bond Guarantee Program. NASBP will begin to undertake lobbying efforts in the House in an attempt to garner additional cosponsors and to identify a bill sponsor in the U.S. Senate. H.R. 776 will be an important issue that NASBP Legislative Fly-in participants will be asked to discuss during their meetings with their members of Congress on June 20. For more information about and to register for the NASBP Legislative Fly-in, click here.
