U.S. Treasury Secretary Tim Geithner visited UPS’s WorldPort hub in Louisville, Ky., as part of the Obama administration’s campaign to generate public support for its $447 billion American Jobs Act.
"One of the most important parts of the president's American Jobs Act is to put people to work right now rebuilding America's infrastructure," Geithner said, according to a UPS news release. "In order to be as productive and efficient as possible, American businesses need the foundation of a strong, reliable, modern infrastructure - and that means they need government to do its part. Investing in infrastructure creates good, middle-class jobs and helps our economy run at its full potential, which keeps us competitive and helps lower costs for businesses and consumers alike."
UPS CEO Scott Davis was among 18 corporate leaders who last week sent a letter to congressional leaders urging action on a long-term surface transportation spending plan with adequate funding to address capacity and maintenance challenges.
The American Jobs Act includes $50 billion for transportation infrastructure and another $10 billion to launch a National Infrastructure Bank.
UPS estimates that a five minute delay for every UPS vehicle costs the company $100 million per year. Lost productivity from road and air congestion cost the United States more than $130 billion a year, according to studies.
UPS operates more than 31,000 flights from the WorldPort hub.