Transportation Finance: Meeting the Funding Challenge Today, Shaping Policies for Tomorrow (2005) / Chapter Skim
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Pages 19-36
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General Sessions
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Wright, Federal Highway Administration Kirk Brown, Illinois Department of Transportation Miguel d'Escoto, City of Chicago Herbert London, Hudson Institute Geoffrey S Yarema, Nossaman, Guthner, Knox, & Elliott LLP Sharon Greene, Sharon Greene and Associates James T
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KEYNOTE ADDRESS Herbert London In his keynote address, Herbert London of the Hudson Institute focused on two themes: (a) homeland security and (b)
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factors. She concluded by explaining that "the full value of innovation in transportation financing will only be realized when paired with companion innovations in the project definition, development, approval, and implementation processes," including actual streamlining, effective partnering, and interagency coordination and cooperation.
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1 6 LUNCHEON SESSION Transportation Challenges to the Nation James Jeffords, U.S. Senator, Vermont Transportation gave rise to the host city, as to somany of our central places in the United States.Chicago is also the birthplace of the modern city planning movement, a school of thought that is central to our national transportation policies.
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Jeff Carey of Merrill Lynch talked about new investment vehicles that might make infrastructure investment more attractive. And Los Angeles Commissioner Janice Hahn agreed that a reliable revenue stream is the key to the success of the Alameda Corridor.
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Jennifer Mayer, Federal Highway Administration, Western Finance Center; Track 3. Mary Richards, Massachusetts Organization of State Engineers and Scientists; and Track 4.
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For the Massachusetts Bay Transportation Authority, the question was how to restructure the program's financial management to align with a new revenue and funding approach. The answer was a conscious shift from a debt-based approach with legislative appropriations to a dedicated revenue stream and greater pay-as-you-go funding.
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Department of Transportation Frederick (Bud) Wright, Federal Highway Administration Robert Jamison, Federal Transit Administration Aluncheon conference featured a roundtable dis-cussion by a distinguished panel of transporta-tion executives.
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ture bank program and related his general interest in opportunities that will arise as part of reauthorization. DISCUSSION William D
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2 2 GENERAL SESSION 3 Summary of Day 2 Reports on Concurrent Sessions Christie Holland, Florida Department of Transportation Laurie Hussey, Cambridge Systematics David Wresinski, Michigan Department of Transportation Paul Marx, Federal Transit Administration Following the concurrent sessions for Day 2, con-ference participants reassembled in a general ses-sion to discuss key discussion points, common themes, and areas for further research. A synthesizer provided an overview of each track, as follows: Track 1.
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She linked these sessions to the resource paper presented by Sharon Greene on Day 1 of the conference. The author contended that "without supporting legislative, administrative, and programmatic changes in the overall project development and delivery system, the financial innovations become far less compelling" in supporting the expedient delivery of projects.
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Skinner, Jr., Executive Director of the Transportation Research Board, offered some introductory remarks and introduced Emil Frankel, Assistant Secretary for Transportation Policy. Emil Frankel Frankel referred to testimony provided by Transportation Secretary Norman Mineta before the Senate Environment and Public Works Committee.
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2 5 GENERAL SESSION 4 Transportation Finance in the Context of Reauthorization and Beyond Congressional Viewpoint Mortimer Downey, PBConsult, Inc. Jonathan Upchurch, U.S.
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LEGISLATIVE INITIATIVES Megan Stanley Stanley designated possible legislative initiatives as either "losers" or "potential winners in terms of the likelihood of enactment." The losers included turnback proposals and those aimed at indexing the gas tax. Potential winners included high-occupancy toll lanes and private activity bonds.
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Department of Transportation Jacky Grimshaw, Surface Transportation Policy Project Steering Committee Michael Martin, American Road and Transportation Builders Association Janet Friedl, American Association of State Highway and Transportation Officials Judith Espinosa, Alliance for Transportation Research Institute, University of New Mexico Dennis G Houlihan, American Federation of State, County, and Municipal Employees William D
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3. There is a persuasive attitude of "not on my budget." Martin described ARTBA's "two cents makes sense" proposal, which calls for an increase in the federal excise tax and other programmatic adjustments, including an adjustment to RABA such that inflows are adjusted to match outflows rather than the other way around; an expansion of the SIB and TIFIA programs; and the creation of an escrow account for pay-as-yougo funding.
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