Today, U.S. Representative Jim Renacci (OH-16) released the following statement on his support for the final compromise on the highway bill:
"The final compromise on the highway bill is far from perfect, but it is better than having no infrastructure plan in place at all. Key to achieving my support for this package are provisions that will shorten the average review process for a transportation project from 15 years to seven, speeding up construction and saving taxpayer dollars in the process. I would have preferred a longer-term solution so we could provide states more certainty on how they can proceed on future construction projects. However, I believe this is the best deal we could achieve in our negotiations with the Senate. "
The compromise reauthorizes surface transportation programs for 27 months. Importantly, it will not add to the deficit. Also included in this bill is language that would prevent an increase in student loan interest rates.
Rep. Renacci is serving his first term in the U.S. House of Representatives, where he is a member of the Financial Services Committee. Prior to his election he worked as a Certified Public Accountant in the health care industry, and owned and operated over 60 other businesses in the automotive and sports management fields.