Obama Offers Details on Infrastructure Plan But Stakeholders Say Solvency Issues Remain
Nossaman Partner Geoffrey Yarema was quoted in the Bloomberg BNA article "Obama Offers Details on Infrastructure Plan But Stakeholders Say Solvency Issues Remain." The article discussed President Obama's speech at PortMiami on March 29, 2013 outlining additional details on his proposal to fund infrastructure, including increasing private involvement through a new bond program, easing private-activity bond restrictions, and enacting tax reforms that would encourage additional foreign investment.
The article reported that stakeholders are generally supportive of the President's proposals and focus on infrastructure, but some think the plan does little to address long-term solvency issues of the Highway Trust Fund.
Mr. Yarema told BNA that several of the President's proposals "deserve serious congressional attention."
"With solvency of the Highway Trust Fund relying on general fund injections and federal taxes to aid ports being siphoned off for budget balancing, focus on more flexible tax policy and greater access to federal credit initiatives is the least we should do," he said.