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Rail News: Passenger Rail
2/2/2011
Rail News: Passenger Rail
APTA: Businesses predict revenue losses, layoffs if transportation bill action is delayed
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A recent American Public Transportation Association (APTA) survey shows that private-sector business leaders in the public transportation industry are concerned about potential revenue losses, hiring freezes and employee layoffs if Congress delays passage of a long-term surface transportation reauthorization bill.
The survey, released Tuesday, shows 84 percent of respondents predicted revenue losses, 50 percent predicted employee layoffs and 49 percent projected hiring freezes if Congress fails to enact a long-term bill soon, according to APTA.
The association’s research also shows that every dollar invested in public transportation yields $4 in economic returns, and every $1 billion invested creates or supports more than 36,000 jobs.
“As unemployment rates stay stubbornly high, public transportation is a smart investment that creates and supports jobs, while improving our communities,” APTA President William Millar said in a prepared statement. “Conversely, the survey shows that Congress’ delay in passing an authorization bill has the opposite effect – forcing private sector businesses to lay off employees and to invest overseas.”
The survey, released Tuesday, shows 84 percent of respondents predicted revenue losses, 50 percent predicted employee layoffs and 49 percent projected hiring freezes if Congress fails to enact a long-term bill soon, according to APTA.
The association’s research also shows that every dollar invested in public transportation yields $4 in economic returns, and every $1 billion invested creates or supports more than 36,000 jobs.
“As unemployment rates stay stubbornly high, public transportation is a smart investment that creates and supports jobs, while improving our communities,” APTA President William Millar said in a prepared statement. “Conversely, the survey shows that Congress’ delay in passing an authorization bill has the opposite effect – forcing private sector businesses to lay off employees and to invest overseas.”