Several key pieces of legislation were signed into law that are crucial for the business community. President Obama signed the Fixing American’s Surface Transportation (FAST) Act marking the first long-term transportation bill to be passed by Congress in a decade. The measure (H.R. 22) passed 83-16 in the Senate and 359-65 in the House. This landmark legislation includes three key measures.

The first is critical transportation and infrastructure funding. As our nation’s roads and bridges deteriorate it’s imperative we maintain and rebuild to keep our businesses and people moving. The Act includes a five-year reauthorization of federal transportation programs and provides Congress more time to discuss long-term solutions for allocating a stable source of funding for the Highway Trust Fund.

FAST reauthorizes the U.S. Export-Import (Ex-Im) Bank. This Bank provides financing and insurance for U.S. companies to sell to customers abroad and compete globally. The Bank’s authorization lapsed earlier this year. During those five months, exporters lost sales and workers lost jobs. The Greater Irving-Las Colinas Chamber of Commerce and the Irving City Council signed resolutions of support for the Ex-Im Bank and we called on you, our members, to help spread the word to your Congressional delegation about its importance.

Finally, the FAST Act includes a streamlined approach for permitting significant infrastructure and manufacturing projects. This will enable us to move quickly and efficiently building roads and bridges as our country and economy grow.

Please consider reaching out to thank our members of the House and Senate who supported this critical FAST Act. You can find the Senate vote here and the House vote here.

The passage of these important pieces of legislation would not have been possible without the support of the business community and we thank you!

Presented by Greater Irving-Las Colinas Chamber of Commerce

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