New Report on Funding and Financing Transportation

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AASHTO report.png Few would argue against the need to maintain the nation's existing transportation network and add capacity to accommodate projected population and economic growth. For the first several decades after the passage of the Federal Aid Highway Act of 1956, revenue generated from federal and state gas taxes were sufficient to pay for new capacity and the maintenance of the highway system. This is no longer the case. For a variety of reasons, collections of federal transportation revenue are now the lowest in 60 years. This revenue gap is being felt not only at the federal level, but at all levels of government, while increasing demands on the system continues to put pressure for policymakers to respond with timely funding and financing solutions.

On September 30, the AASHTO Center for Excellence in Project Finance convened a one-day forum for Members of Congress, Congressional staff, and transportation industry stakeholders to explore funding and finance solutions for surface transportation. America 2050 was pleased to be a co-sponsor and participant in this forum.  A new report brings together essays submitted by the forum speakers prior to the event with short summaries of the panel discussions and their salient themes and questions.

The report presents a series of viable funding and financing options  for surface transportation at the federal, state and local levels. Drawing on case studies and best practices in states and regions across America, the report highlights examples of successful federal financing programs, provides suggestions for their improvement, and shares the growing body of experience with models of public private partnerships and availability payment approaches to project finance and delivery. Numerous contributors also discuss options for new revenues into the federal program, from local value capture solutions for capital projects to long-term solutions for funding the existing system, such as vehicle miles traveled (VMT) charging.

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I am really for High Speed Rail!!!