Economics
Pennsylvania’s Bid to Toll I-80 Rejected by Feds
Pennsylvania Gov. Ed Rendell (D) has scheduled a press conference this afternoon to discuss his pitch for new tolls on Interstate 80, but local media reports are already suggesting that his news is not good: the federal government has rejected the state's bid to toll the highway, leaving its transportation budget short at least $450 million.
April 6, 2010
8 Senate Dems Join Industry in a Gas-Tax Warning to Climate Bill’s Authors
As Sens. John Kerry (D-MA), Lindsey Graham (R-SC), and Joseph Lieberman (I-CT) prepare to unveil a new climate change measure that includes a tax on motor fuels, eight of their colleagues are urging the trio not to forget local transportation planning -- and warning that any new gas tax should be used to help pay for a new federal infrastructure bill, not redirected for other purposes.
April 5, 2010
What Happened to the Proposed ‘Transportation Tax’ on Wall Street?
For several weeks last fall, as members of the House infrastructure committee pushed for passage of a new six-year federal transportation bill as a strategy to rouse the economy from recession, a proposal to pay for the legislation with a small tax on oil futures trades attracted a healthy crop of Democratic cosponsors and some vocal pushback from Wall Street.
April 5, 2010
New Survey: 84% of Transit Agencies Facing Fare Hikes, Service Cuts
Budget shortfalls exacerbated by the lingering recession have forced 84 percent of local transit agencies to hike fares, cut service, or begin considering one or both of those options since the beginning of 2009, according to a report released today by the American Public Transportation Association (APTA).
April 1, 2010
Wall Street Swaps Haunting Cities: How Many Transit Agencies Hold Them?
The vast majority of Americans could not recognize the term "credit-default swaps" until 2008, when the obscure type of Wall Street deal was pinpointed as a leading cause of the U.S. financial meltdown. Now another type of swap, centered on interest rates, is making headlines as a growing number of urban governments start to regret their bets on borrowing costs.
March 31, 2010
Home Builders Net More Than $2.6B From Tax Break in Stimulus Law
The home-building industry scored a big win last year when Congress voted to double the tax credit for new home buyers and extend the break until next month. But that's not the only legislative move that's leaving smiles on home builders' faces.
March 24, 2010
As Geithner Touts Infrastructure, Skepticism Persists on $4B ‘I-Fund’ Plan
Treasury Secretary Tim Geithner, considered a skeptic of transportation stimulus spending by some lawmakers, yesterday joined two other White House economic advisers in endorsing new infrastructure investment as a means to
jump-start the economy.
March 17, 2010
Could Transport Bill Inaction Hurt the White House’s Sustainability Push?
The White House's lack of interest in passing a new long-term federal transportation bill before next spring at the earliest is common knowledge in Washington, but the Obama administration has paid little political price so far for its approach to the issue. That began to change today, thanks to two lawmakers on the House panel that controls the U.S. DOT's purse strings.
March 10, 2010
Moody’s Gifts Fossil-Fuel States With Positive Credit Outlook
Credit-rating agencies -- particularly Moody's and S&P, the nation's two premier shops -- wield significant influence over the financial health of private companies. But state and local officials are often equally dependent on good credit ratings to borrow money for transportation and infrastructure improvements.
March 4, 2010
Build America Bonds: Good for Transportation … Good for Goldman Sachs?
The taxpayer-subsidized infrastructure financing program known as Build America Bonds (BABs), which would get a big boost in the Senate's new jobs bill, has proven helpful for local transit agencies and other transportation officials seeking a way to fund big new projects during a crushing economic recession.
February 25, 2010