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Two perpetual transportation problems have eluded a lasting solution: how to fund our deteriorating infrastructure and how to shore up the underfunding of multiemployer pension funds. Ironically, two industries are directly impacted by both: trucking and construction.
President Trump wants a $1 trillion infrastructure program but no clear path to pay for it. The primary funding source – federal fuel tax – is an unlikely solution politically and practically.
An alternative source: multiemployer pension funds. Many of these funds are in financial distress, but collectively have some $450 billion in assets. We need ways to put that money to work rebuilding infrastructure.
– Tim Lynch, Senior Director, Morgan Lewis