financing u.s.pdf
TRANSCRIPT
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TheHamiltonProject
DiscussionPaper | May7,2015
Financing U.S. Transportation Infrastructure inthe 21st CenturyBy:RogerC.Altman,AaronKleinandAlanB.Krueger
Abstract
Thenationstransportationinfrastructure,itiswidelyagreed,iserodingandinneedofinvestment.Mostpolicymakersrecognizethemeritsofinvestinginthesystem,suchasgainsinproductivity,globalcompetitiveness,andjobcreation.Lowpublicborrowingrateshavealsocreatedanattractiveclimateforincreasedpublicinvestment.However,governmentleadershavefailedtoagreeonwhichinvestmentstomakeandhowtopayforthem.Inordertobreakthislogjam,thispaperproposestwotracksofsolutions,someofwhichcanbeimplementedquickly,andotherscanbeexecutedoverthelongerterm.Intheshortterm,weproposeimprovementandexpansionoftheTransportationInfrastructureFinanceandInnovationActlendingprogram,reauthorizationofBuildAmericaBonds,betterutilizationoftheArmyCorpsofEngineersandtheHarborMaintenanceTrustFund,andreformofthefederalgastax.Overthelongerterm,werecommendinvestinginresearchtoimproveuserfeetechnologyandusingfederalincentivestoencouragestatestoadoptstandardizedandinnovativeuserfeetechnology,fosteringcooperationinpooledprocurementamongstatesandmunicipalities,anddevelopingandimplementingabroadnationalstrategytoguideinfrastructureinvestmentintheUnitedStates.
AUTHORS
RogerC.AltmanFounder&ExecutiveChairman,Evercore
AaronKleinDirectoroftheFinancialRegulatoryReformInitiative,BipartisanPolicyCenter
AlanB.Krueger
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BendheimProfessorofEconomicsandPublicAffairs,PrincetonUniversity