By Jane Calderwood
ACI-NA Chairman Hardy Acree participated in the Senate Democratic Steering Committee’s discussion on rebuilding America’s infrastructure Wednesday. He joined 16 other participants ranging from trade unions to the U.S. Council of Mayors in a vigorous discussion of ways to invest in roads, airports, railways and building construction in an effort to create jobs and stimulate the economy.
Senate Majority Leader Harry Reid (D-Nev.) discussed his recent visit to McCarran International Airport, where he toured their $2.3 billion terminal project. He noted that the AMT waiver for private activity bonds included in the American Reinvestment and Recovery Act allowed McCarran to sell bonds, without which the project would have stopped and over 1,600 jobs would have been lost. Acree told of the difference stimulus bill’s AMT provisions made in Sacramento. Their $1.1 billion terminal renovation project was underway in 2008 when the bond market wasn’t moving, and it wasn’t until the AMT waiver was signed into law and they were able to sell $480 million in bonds that they were sure they could complete the project. The AMT waiver was directly responsible for preserving 1,200 construction jobs at the airport.
Ed Wytkind, president of the Transportation Trades Department of the AFL-CIO made the pitch that Congress needed to pass the FAA Reauthorization bill noting it is “another jobs bill”. This was echoed by Acree along with a push for an increase in the PFC which he called the “mother’s milk of airport development.”
Senator Ron Wyden (D-Ore.), a member of the Senate Finance Committee, discussed making better use of the Build America Bonds and that he was considering crafting “different flavored” bonds for different industries. Acree spoke with Senator Wyden privately afterwards about ACI-NA’s interest in an “airport flavored” Build America Bond, and ACI-NA staff are set to meet with the senator’s staff on Friday to discuss the issue. Senator Wyden also said he would speak directly with Finance Committee Chairman Max Baucus (D-Mont.) about the importance of making the AMT relief permanent.