Pelosi: Today's Approval of Highway Trust Fund Will Protect American Jobs and Safety of American Drivers

Contact:Brendan Daly/Nadeam Elshami, 202-226-7616

Washington, D.C. - Speaker Nancy Pelosi issued the following statement today after the House approved the Highway Trust Fund Restoration Act, which will fund highway projects by transferring $8 billion from the general fund to the Highway Trust Fund. The Senate approved the legislation this week and the bill now goes to President Bush for his signature into law.

"Today's critical cash infusion for the Highway Trust Fund will protect hundreds of thousands of American jobs and the safety of American drivers and families. At a time when Americans are struggling in these difficult economic times, this legislation will save nearly 380,000 American jobs and help states avoid a 34-percent cut to their federal transportation funding.

"I am pleased the Bush Administration has withdrawn its earlier objects to this legislation in light of Transportation Secretary Peters' assessment that the trust fund will run dry in the next few weeks. With our economy on the brink of recession and state's struggling to balance their budgets, this is no time for the Bush Administration to play politics with the Highway Trust Fund.

"Today more than 9 million Americans are out of work, the unemployment rate is a five-year high. We must take immediate action to strengthen our economy. We've been saying that for a while, the Administration has resisted, hopefully the statistics will speak eloquently to the White House that a stimulus package is needed. It will be a stimulus package to create jobs.

"I look forward to the President signing this legislation into law."