WASHINGTON D.C. -- Caterpillar Inc. CEO Doug Oberhelman spoke on a panel at the White House Wednesday, urging Congress to pass laws to improve spending on the nation’s infrastructure.
In an op-ed published Thursday afternoon in The Hill, Oberhelman states the Highway Trust Fund will run out of money within the next month unless Congress and the White House find a solution.
The fund currently supports about 112,000 road projects across the country.
“With the trust fund running out of money within weeks, the stakes are just as high and the need for a stable and permanent solution just as great now as they were then,” wrote Oberhelman. “Our aging infrastructure slows down our nation. It takes longer to drive across town, to commute, and to ship and deliver goods.”
Oberhelman says the company is greatly effected by the decision.
"A Caterpillar 797 off-highway truck chassis can’t move in a straight line from our Decatur, IL plant to a port of exit because of a patchwork of state-imposed weight restrictions," he added. "Either we take a longer, inefficient route, or we disassemble and then reassemble the chassis. In either case, we waste time and money."
Read the full op-ed here.