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Federal Transportation Bill - It's so easy, even Congress can do it!
With his prepared remarks discarded, Congressman John Mica (R-FL), the ranking membert of the House Transportation Committee, went off the cuff last night to discuss what Congress must do to get a new transportation bill done in the next 18 months. At the Third Annual Transportation Forum's dinner gathering in Austin, TX, Mica said the country needs $1.5 trillion just to maintain current transportation assets. He also said the way to get there is by doing what small businesses and families have been doing all along...make a financial plan and stick to it!
The first step, Mica said, is to develop a blueprint for national priorities. Next, a policy must be set to achieve that blueprint, and then a plan created to finance the blueprint. He said gas taxes will only supply 1/3 of the $1.5 trillion. The rest must be raised through alternative financing plans and public-private partnerships. The congressman added a big part of the plan is to reduce the federal red tape that drives construction costs higher but slows down projects, while maintaining environmental safeguards.
TxDOT is well ahead of the game. The Texas Transpoprtation Commission has directed the agency's administrative team to implement alternative financing plans approved by the legislature, such as pass-through financing. TxDOT has also started funding projects through public-private paretnerships, although that concept will get a closer look in the 2009 legislative session.
Is it really that simple?
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