In these days when initiatives with bipartisan support are uncommon, a bipartisan report has been released that calls for “a fundamental overhaul of America’s transportation policies and programs.” The report estimates a federal shortfall of up to $194 billion a year in infrastructure spending on roads, rail, and air transportation through 2035. Given the poor state of current US transportation infrastructure, as described in the ASCE’s Infrastructure Report Card, it is estimated that an investment of $262 billion per year will be required to actually improve the US transportation network. The report cites lack of a vision and underinvestment as compromising US productivity and its ability to compete internationally. The report says that it is time to “rethink existing systems for the 21st century and create an agenda for enacting change.”
The benefits of redesigning and refinancing the US transporation system include increasing international competitiveness, improving US productivity by reducing congestion and at the same time reducing pollution, creating a more equitable “pay as you go” financing system to replace the current fuel tax, improving reliability, and reducing costs. The report emphasizes long-term, sustainable changes instead of short-term “stop-gap” measures.
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