Caterpillar Hosts President BushCED Magazine September 2005
Article Date: 09-01-2005
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Transporation Equity Act signed at Cat factory.
President George W. Bush signed the Transportation Equity Act into law August 10 at Caterpillar's manufacturing facility in Montgomery, Ill.
The measure sets funding levels for critical infrastructure projects from 2004 through 2009. It provides for more than $286 billion over six years to upgrade the nation's network of roads, bridges and mass transit systems.
In addition to the infrastructure initiatives, the legislation funds programs to reduce emissions from older off-road diesel equipment and sets money aside to retrofit school buses as part of the Environmental Protection Agency's Clean School Bus USA initiative.
Caterpillar actively supported the Clean School Bus initiative by providing $250,000 in grants in 2004 to help school districts reduce bus emissions.
"We are honored President Bush is signing this important legislation at our Montgomery location," says Jerry Palmer, Caterpillar vice president with responsibility for the Wheel Loaders and Excavators Division. "The wheel loaders and excavators made in Montgomery can be seen all around the country, working to build the roads, highways and bridges that are such a vital part of the American economy."
Caterpillar's Montgomery operation is one the company's largest U.S. manufacturing facilities. The factory is located in House Speaker J. Dennis Hastert's (R-Ill.) 14th Congressional District. Hastert was on hand at the signing of the bill.
"This highway bill will not only fuel America's economy by growing jobs, but it addresses the need for a national transportation system suited to the 21st century's economy," says Hastert. "It is estimated that for every $1 billion we spend on road construction, nearly 48,000 jobs are created.
"With more than 67 percent of the nation's freight moving on highways, economists believe that our ability to compete internationally is tied to the quality of our infrastructure."
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