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Obama Releases 'Clean Transportation System' Plan
On Feb. 4, President Obama announced his proposal for a “21st-Century Clean Transportation System,” funded by a new $10 per barrel fee to be paid by oil companies, as part of his Fiscal Year 2017 budget to be announced Feb. 9.
“For too long, bipartisan support for innovative and expansive transportation investment has not been accompanied by a long-term plan for paying for it,” according to a statement on the White House website. “We need a sustainable funding solution that takes into account the integrated, interdependent nature of our transportation system. Travelers choose between walking, biking, driving, flying and taking the train, and companies choose between trucks, barges, airplanes and rail lines. So to meet our needs in the future, we have to make significant investments across all modes of transportation.”
The plan—building on the FAST Act passed last year—would increase U.S. investments in clean transportation infrastructure by roughly 50 percent while reforming current investments to help reduce carbon pollution, cut oil consumption and create new jobs.
The statement noted that the oil company fee, which would be gradually phased in over five years, would raise the funding necessary for new investments while also providing for the long-term solvency of the Highway Trust Fund.
For details of the plan, click here.
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