Caterpillar Would Gain From U.S. Highway Funding Amid Slump
- Legislation would provide three years of transportation money
- Plan includes Senate-passed provision to revive Ex-Im Bank
Caterpillar Inc. equipment sits outside the Altorfer Cat dealership in East Peoria, Illinois, on July 21, 2015.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
A long-term highway funding bill being debated by the U.S. House this week may be the first bright spot in months for construction-equipment giant Caterpillar Inc., which announced restructuring plans in September that may involve cutting 10,000 or more jobs.
The highway bill also would revive the Export-Import bank, which counts Peoria, Illinois-based Caterpillar among its biggest beneficiaries. The legislation, already passed by the Senate, would be the first multiyear highway authorization law since 2012, extending transportation programs for six years.