Our trade partners our biggest ones, canada china mexico, are spending two to five times more than that on their infrastructure. And it cant be just one mode that were focused on when we talk about funding infrastructure. We have to look at all modes and we need to make those modes work better together. Rail, truck air and water are today the key components of the Global Supply chain. The Global Situation is getting worse in a lot of respects, but we have the opportunity to take advantage of whats going on internationally in the economy. The coalition for americas gateways and trade corridors ask congress to take the following steps in the upcoming surface transportation authorization. First, we would like you to establish a Freight Program containing dedicated and flexible funding. Freight should not compete with other mobility needs. Its integral to other mobility needs. Freight movement occupies a special place in our Transportation System as the elements supporting commerce competi
And then you have a little more wiggle room using either side of that equation to be able to reach your revenue neutrality. Okay, bill. Senator. We, of course, did it revenue neutral. I think the times today probably might require some additional tax. But i believe thats something that the committee has to work out itself. If you really do thorough tax reform, what you find is at least we found that upper income americans will pay a higher percent. For example, we cut the rate from 50 to 28 and yet the top 5 paid a higher percent of the total tax revenue after that reduction than before. Well the u. S. Is one of five Major Economies operating on a worldwide tax system. Meaning it currently taxes the income of its companies wherever that income is earned. Even if its not in our country. Currently companies have profits they earn back to the u. S. But they face a tax of 35 minus foreign tax credits. Those would not pay this additional tax and keep earnings abroad, deferring the additiona
System and the industries that are so much part of the United States economy. Thank you for doing that. And i apologize, mr. Chairman, for going so far over my time. No thats fine. Senator murray do you have any closing remarks. Dr. Murray, well stated. Thank you for both of your testimony. This was a good hearing. Senator alexander, i look forward to working with you on that. Thank you. And dr. Collins, do you know off hand, you mentioned the success rate has declined over the years. What about the absolute number of grants . Has that gone up . The absolute number of grants that we fund versus that we receive. It has bounced around, it was 10,000 30 years ago it was id have to get you the number. I was trying to compare that to the success rate. But the biomedical community has grown. It would be interested to see that. Thank you to both of you. Thank you for being here. Very important that you were here and we thank you for your six years of service at fda. And i hope youll accept ou
Invested in did not have open access to the distribution network, it would have been an entirely different story. This the difference this is what you can tell your constituents, that it is openness that is the core of creativity. Because there should be nobody acting as a gateway and saying mm, youre only going to get on my network if you do it on my terms. And the key then as we go to the previous discussion, what you want to do is make sure you have that gateway, not blocking the openness of entrepreneurs. At the same time that gateway, not being retail price regulated so that it can continue to invest, thats the kind of balance we were trying to do. But if i i would urge you to tell your constituents, the opportunity for innovation and the opportunity for the scaling that is required of innovation has never been greater because the networks are open. With all due respect, many people back in iowa would say youre trying to solve a problem that doesnt exist. Today. And i have a speci
North america. Will county is crossed by six class 1 railroads, five interstate highways, several commercial water ports on our nations largest inland waterway. Last year we processed over 3 million containers containing 65 billion worth of goods that are grown, manufactured, assembled, and delivered throughout the United States and the world. Our first and last mile Infrastructure Requirements today total 3. 6 billion of new investment just in our county, and that does not include bringing our existing road infrastructure up to a state of good repair. Our needs extend far beyond roads. Increased utilization of freight by rail as weve heard is resulting in more at grade rail crossings and its impacting commerce from public safety. We need at the very local level more grade separation structures and first and last mile interstate connectors to accommodate the freight of the future. The growth of freight has been stated we believe by 2045 that increase will be about 45 putting more press