By Eileen Houlihan, senior writer/editor, ARTBA
While the FAST Act was a “great bipartisan achievement” it “seems clear we need to keep multiple transportation revenue options on the table” to support future expanded infrastructure investments, Caterpillar Inc. Chairman and CEO Doug Oberhelman said in an Oct. 6 speech at the ARTBA 2016 National Convention in Tucson, Arizona.
Oberhelman, who is also the chairman of the Business Roundtable, noted that Caterpillar is “proud to have cleared, built, or paved more than 700,000 miles of U.S. roads since our founding in 1925, that’s at least one-third of all paved roads in America today,” he added. “That includes the Interstate Highway System, which celebrates its 60th anniversary this year.”
“We haven’t done a major overhaul of our tax code in more than 30 years. We all seem to agree that our current business tax system makes U.S. companies less competitive globally and drives companies out of the United States,” he said.
“Democrats and Republicans agree that our country needs a modern tax system. Let’s hope with a new president we can get it done,” Oberhelman said.