US Surface Transportation Infrastructure Hampers Commerce, Says Caterpillar Official
The U.S. surface transportation infrastructure is failing to keep pace with the global marketplace, said Stu Levenick, a Caterpillar group president, in testimony delivered to the House Transportation and Infrastructure Committee on Jan. 14 (here). The Moving Ahead for Progress…
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in the 21st Century Act, signed into law in 2012, improved federal surface transportation infrastructure efforts, but the legislation fails to enable U.S. companies to compete globally. "While other parts of the world are integrating and modernizing their infrastructure to meet the economic challenges of the 21st century, we are failing to act comprehensively and decisively," said Levenick, according to a Caterpillar press release (here). "Our transportation system is the backbone of our economy. However, we are relying on investments made decades ago to sustain our growing and changing economy. We must renew our commitment to this system if we are to ensure our nation's global competitiveness." Caterpillar exported over $22 billion in products from the U.S. in 2012, said Levenick.