The Portland Cement Association (PCA) has voiced concerns over plans to suspend the US federal gas tax. US President Joe Biden called on Congress this week to suspend the tax in a bid to stem the rise in fuel prices at the pump, which topped US$5/gallon for the first time ever this month. While this move may be welcomed by motorists, the PCA believes it could have serious ramifications for the US construction industry, according to PR Newswire.
“Pausing the federal gas tax is the wrong decision at the wrong time. Gas tax revenues fund the Infrastructure Investment and Jobs Act (IIJA), which is a once-in-a-lifetime opportunity to remake American industry and infrastructure with sustainability at its core,” says Mike Ireland, PCA president and CEO. “Removing the funding from the gas tax will strangle the IIJA before it is even up and running.” The IIJA was signed into law in November 2021.
The introduction of the IIJA coincided with the launch of PCA’s Roadmap to Carbon Neutrality, outlining the journey to carbon neutrality across the cement-concrete-construction value chain by 2050. “PCA’s carbon neutrality roadmap objectives and the goals of the IIJA dovetail nicely, with a shared view toward long-term sustainability in roads, buildings and other structures. However, achieving these goals requires significant funding. The gasoline tax is crucial for meeting these funding needs,” said Mr Ireland.
Published under Cement News