Speech #1140009493

To keep our nations freight network globally competitive. I am introducing the National Freight Network Trust Fund Act of 2015. which would create a dedicated source of funding for essential projects to improve and modernize our freight network at no new cost to the public. This legislation would create a National Freight Network Trust Fund and deposit 5% of all import duties collected by Customs and Border Protection (CBP) at Ports of Entry into the Fund to be spent only on freight transportation. Neither businesses nor taxpayers would incur any new cost because it uses a small percentage of funds our CBP officials already are collecting at the border as freight enters our nation. Five percent of import duties amounts to roughly $2 billion in the Trust Fund every year at our current rate of imports. a level that would help address the nations infrastructure funding deficit and allow us to make essential investments in the freight network.