Senate Finance Hearing on Transportation Funding
The Senate Finance Committee held a hearing Thursday on ways to fund infrastructure during the next highway reauthorization. Chairman Max Baucus (D-Mont.) said the committee must find “creative and sufficient financing for these projects” in the next reauthorization bill.
Congressional Budget Office (CBO) Director Peter Orszag and JayEtta Hecker, GAO director of physical infrastructure issues, both testified that transportation spending is not meeting the needs of the nation. They also agreed that taxpayer support of the system is highly inefficient and should be changed. The CBO suggested that tens of billion of dollars of additional spending could be economically justified. Hecker and Orszag described a number of financing options for highways, including user fees for passenger and freight transport, congestion financing to charge vehicles for peak-hour driving, tax credit bonds and a federal financing bank.
For more information, contact Brian Deery at 703-837-5319 or email@example.com.
return to top ]