Column: Looking Toward the Future

Looking Toward the Future
Rep. Boozman's Column for the Week of August 15, 2005

Discussing the Need to Invest in Infrastructure

Washington, Aug 15 - Last week, President Bush signed two important bills that will help facilitate growth in Arkansas. Those two pieces of legislation, the Energy Bill and Highway Bill, both take pro-growth approaches to issues that are currently keeping Arkansas' economy from reaching its full potential. Both bills will provide real help to us over the long-run.

The Energy Bill is a good step toward reducing our dependence on foreign oil. Right now, Americans consume twenty-one million barrels of oil per day and the overwhelming majority of that comes from foreign sources. By increasing production, encouraging alternative sources of energy and facilitating conservation, we will reduce our reliance on other counties for our energy sources in long run.

Specifically, the Energy Policy Act of 2005 encourages domestic production of oil by streamlining the permit process and promoting greater refining capacity; reduces the demand for oil by increasing funding to improve fuel efficiency standards and encouraging the development of alternative sources of energy; boosts production of clean natural gas to help lower soaring prices; promotes clean and renewable fuels by providing incentives for clean coal technology and other fuels such as biomass, wind, solar, and hydroelectricity; and encourages conservation by establishing new mandatory efficiency standards and product labeling for products that consume a lot of energy.

This is a balanced approach to the issue. High gasoline prices, coupled with high heating and cooling bills, are hitting Arkansans hard. Without a long-term strategy for dealing with the problem, which is rooted in our dependence on foreign oil, then this issue will continue to impede our economic growth.

The Highway Bill, which contains close to $140 million in funding specifically designated for projects in the Third District of Arkansas, will give our state's infrastructure a much-needed shot in the arm.

Arkansas is set to receive $2.3 billion over the next five fiscal years, or $476.4 million annually, from the Highway Bill to help address critical highway needs throughout the state. Arkansas will also receive additional money for the state's transit needs. In addition, the Third District of Arkansas is set to receive assistance for specific projects that have been earmarked in the bill.

Our region continues to be one of the fastest growing in the country and as such, our infrastructure needs to keep pace in order for us to sustain this growth. This funding will help our municipalities deal with the strain that has been placed on our infrastructure and help reduce the stress of commuting around the Third District of Arkansas.

Some parts of the Third District and the state that aren't growing as fast as other areas. For these parts of the state, infrastructure projects can help bring growth and jobs.

The Energy bill and the Highway Bill are very forward-thinking pieces of legislation. Both these bills show that the president, along with Congress, is looking toward the future and promoting policies that take a long-term approach to removing the barriers to Arkansas' economic growth.

http://www.boozman.house.gov/News/DocumentSingle.aspx?DocumentID=32366