Capital Partnerships
  A Nationally-Recognized Resource in Infrastructure Financing April 7, 2011  
 

Inside Transportation

 

From Capital Partnerships LLC

 

SPENDING CUTS CONTINUE FOR TRANSPORTATION

  

Tomorrow, a new one-week continuing resolution will go into effect until midnight on April 15th; it extends the funding that will avoid a government shutdown, but will shave another $2 billion from the discretionary budget authority, as House Republicans have promised to do for each week a continuing resolution replaces a long term budget agreement between the House and Senate.

The latest continuing resolution, H.R. 1363, cuts $1.8 billion in discretionary funds from the USDOT and more than $350 million in transportation-related programming from other sources such as the Department of Homeland Security.

Further, House Budget Committee Chairman Paul Ryan (R., WI) has just released his proposed budget for fiscal year 2012 that aims to further reduce funds for transportation by approximately $30 billion. The so-called "Path to Prosperity" cuts all funding for high speed rail and limits additional revenue to the Highway Trust Fund and surface transportation reauthorization bill; as prior Inside Transportation newsletters have pointed out, Secretary of Transportation Ray LaHood is reluctant to raise gas and diesel taxes to generate revenue for highway projects and Ryan has refused to relocate monies from the general fund to sustain highway projects. Pushing back against LaHood and others, Ryan explains, "This budget anticipates that Congress can keep the Highway Trust Fund solvent without additional general fund transfers or increases in the gasoline tax by consolidating dozens of separate highway programs that GAO has identi?ed as duplicative."

     
 
 

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