U.S. Surface Transportation Re-authorization Bill – Update as of July 6, 2011
House Transportation and Infrastructure (T&I) Committee Chairman John Mica, R-Fla., will introduce the committee’s multi-year surface transportation reauthorization proposal tomorrow — Thursday, July 7, at 11 a.m. Eastern time. According to Chairman Mica, the bill will not only reauthorize and reform the nation’s federal highway, transit and highway safety programs, but will also make significant improvements to passenger and freight rail programs and maritime transportation policy. “This fiscally responsible, multi-modal initiative would streamline federal programs, cut red tape, better leverage our federal resources, make wise investments in our infrastructure and create needed jobs for Americans,” according to the Chairman. The rollout event is scheduled to last approximately 90 minutes. Live video of the event will also be available at www.transportation.house.gov by clicking the “Live Webcasts” link.
Streetsblog Capitol Hill reports that Sen. Barbara Boxer (D-CA), chair of the Environment and Public Works Committee, wants transportation reauthorization bill passed soon in order to avoid the loss of 600,000 jobs in the construction and transit industries. She issued a call to action this morning, pushing for a new bill before the current extension of SAFETEA-LU expires on September 30. Though she had initially pushed for a six-year bill, Boxer made it official that the EPW proposal is for a two-year bill that will only cover current funding levels plus inflation—about $109 billion over the two years.
At today’s press conference, Boxer focused mostly on the urgency of saving 500,000 construction sector jobs and 100,000 transit jobs, citing new Federal Highway Administration stats about the ramifications if Congress passes Rep. Paul Ryan’s budget, with its 30 percent cuts to transportation. Boxer’s aides pulled out charts detailing just how many jobs would be lost in each state (See Chart here), and Boxer pointed to the over 43,000 that her home state of California would shed. Click here to read the rest on Streetsblog Capitol Hill
Note: And I found this interesting nugget on infrastructure spending on the EPW Press Release. It shows we have a long way to go to match the Chinese: According to a report by the Department of the Treasury and the Council of Economic Advisors, the United States currently spends 2 percent of GDP on infrastructure, a 50 percent decline from 1960. Meanwhile, China is spending close to 9 percent of their GDP on infrastructure.
U.S spends 2% on infrastructure and because China is spending 9% you say we “have a long way to go”? This ignorant statement begs a couple questions:
What is China’s GDP compared to US? 9% of a smaller GDP is a smaller amount spent.
China not too long ago was a third world nation…..do you think maybe they have a long ways to go before catching up with our level of in place infrastructure? No wonder they are spending 9%. They are the ones who have a long way to go.