Highway Construction Drops Again; Total New Construction Rises
- Published: Wednesday, 27 August 2014 14:44
- Written by Mark Kuhar
Highway construction work dropped sharply in June and July, wiping out market gains from the previous seven months amid uncertainty over the federal aid highway program and the Highway Trust Fund, according to the American Road & Transportation Builders Association. The decline can be specifically attributed to longterm congressional inaction on deficiencies in the Highway Trust Fund, and Congress’s inability to agree on a new highway bill. President Obama has signed a $10.8 billion temporary measure that will fund highway and bridge repairs for the next 10 months, however that is not enough to give the highway construction market the long-term confidence it needs.