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N E W T R A N S P O RTAT I O N I N I T I AT I V E S A N D D E M A N D S O N F I N A N C I N G 53 · Opposition to the regional investment bank concept and SIBs as well as sole-source procurement and tax and funding from the 4.3-cent diesel tax; incentives aimed at safety investments. · The role of rail as an alternative to free up air Mudge shared his ideas for possible next steps, capacity; and including these: · The possible use of train stations as community centers to attract grassroots support. · New--and diminished--rules for the TIFIA program (i.e., no TIFIA minimum for new technology); · Off-budget Technology Finance Corporation; and SESSION 4: EMERGING FUNDING CHALLENGES · Links to other tools, including tax credits for safety enhancement or purchase of technology in vehicles. Frederick (Bud) Wright, Federal Highway Administration (Moderator) He suggested to the group that we need to "think big" Robert C. Brown, Federal Highway Administration and that networks drive economic change and productivity. (Discussant) He provided examples of the Interstate, the transcontinental Pat Goff, Missouri Department of Transportation railroad, and the Internet as evidence for his case. Richard Mudge, Delcan Inc. Joseph M. Giglio, Northeastern University The Other Side of the Technology Coin: The Vital Role of Technology in Implementing Homeland Security and Impact on User-Pay Mechanisms Transportation Funding Joseph M. Giglio Pat Goff As the final speaker in this session, Joseph M. Giglio Pat Goff addressed the cost of homeland security and its addressed the role of technology in implementing rev- impact on transportation funding. He discussed four enue collection mechanisms. He told the group that homeland security components: prevention, detection, there are simply two true revenue sources: user fees and restoration, and training. taxes; it's that simple. He also raised concern about the He described a new sense of urgency to what was pendulum swinging in the other direction vis-à-vis the already under way and focused on the need to identify level of debt issuance. collective needs by all states to make the case for more Giglio focused the rest of his remarks on the thesis funding overall. There needs to be net new money, he that there are a number of technologies that lend them- argued, rather than attempts to fund security-related selves to performance pricing and gave a description of costs with traditional transportation funding resources. the product life cycle of technology investment. Giglio offered the following questions regarding technology: Intelligent Transportation Systems: · Will technology generate stable, predictable revenue Funding Challenges and Innovations streams? · What is the cost of collection, and is it less expensive Richard Mudge than an alternative approach? · Does the technology impose a higher charge on Richard Mudge addressed the funding challenge that those who generate a higher cost? has been facing investment in intelligent transportation · Does it contribute to the reduction of evasion? systems and reviewed some of the progress that has · Does it help provide better customer service, which been made to date as well as some of the potential in turn can generate value and facilitate premium-pricing opportunities in the future. He cited a need for better techniques? understanding of who gains and for translating abstract benefits into funding. He offered the Alameda Corridor Project as an example of how this translation Discussion was accomplished and of a willingness to provide funding created from an understanding--and even Robert C. Brown quantification--of the benefits. Mudge suggested that we need not be so afraid of Robert C. Brown led the discussion for this session. He helping the private sector make money. He offered focused it on the questions of how to share costs when the examples of the flexible repayment provisions of TIFIA private sector is involved and the impact of having multiple
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54 T R A N S P O RTAT I O N F I N A N C E uses for infrastructure to help justify the cost. Wrapped up The group discussed the appropriate federal role in in the question of appropriate cost-sharing are the questions developing standards for technology deployment. In of how much profit is acceptable for private-sector partners the course of the discussion, Giglio noted that privacy and when they should be able to take this profit out of the is fading away as a constraint on the applications of partnership vis-à-vis the public side of the partnership. technology.