Federal Funding

The last piece of the Senate's two-year transportation reauthorization proposal will be marked up by the Finance Committee tomorrow at 3:00 p.m. The committee was tasked with finding approximately $12 billion to bridge the projected shortfall of the Highway Trust Fund over the life of the bill. So far, according to a summary released by Chairman Max Baucus (D-MT), they have found a little over $10.4 billion:

Today at Grand Central Terminal in Manhattan, four members of New York's congressional delegation joined the head of the Metropolitan Transportation Authority in decrying House GOP efforts to drastically alter how the federal government supports transit in cities.

If the Transportation Research Board annual meeting were a music festival, the headline act would have been yesterday's panel of six secretaries of transportation, including Ray LaHood (the incumbent) and Alan Boyd (the first to ever hold the post). As headliners go, they were a bit of a downer: They told a standing-room-only crowd that they're all pretty worried about America's ability to deliver the transportation policy the country needs.

This week marks the Transportation Research Board's 91st annual meeting, a time when thousands of experts and professionals from across the country descend on the nation's capital to share their ideas, discoveries, theories, and fears with their colleagues in the transportation field. This year, falling in line with political rhetoric from both parties that ties transportation to job creation, the conference's theme is "putting innovation and people to work." Presumably, "innovation" refers in part to the fact that there is little to no agreement on how to pay for transportation investments at the federal level.

When government types start to talk about expanding infrastructure, you’re likely to hear the phrase “public-private partnership” thrown around a lot. PPPs (or P3s, or 3Ps) are one of the “innovative financing tools” that policymakers love to hold up as a way to expedite expensive infrastructure projects that taxpayers want but aren’t willing to pay for – or that elected officials want to build but won’t take any political risks to support.

For the last two days, Nigeria has been on fire with national protests against the government’s move to drop the fuel subsidy that has kept gasoline cheap for years. All of a sudden, on January 1, Nigerians awoke to find that gas prices had gone from 65 naira (40 cents) to at least 141 naira (86 cents) per liter.

The U.S. DOT announced this morning that it’s allocating almost $1.6 billion for repairs to roads and bridges that were damaged in recent floods and storms. If House Republicans had gotten their way, this money would have come out of high-speed rail funds.

Tomorrow is the last day of 2011, folks. I wish you a Happier New Year than this one was.