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How will Transit Fare in the Next Authorization

How will Transit Fare in the Next Authorization. AASHTO Executive Director John Horsley 2008 State Public Transportation Partnership Conference Providence, Rhode Island August 6, 2008. National Transportation Visions Over the Last Century. Transportation Vision Summit, Maryland, May, 2007.

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How will Transit Fare in the Next Authorization

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  1. How will Transit Fare in the Next Authorization AASHTO Executive DirectorJohn Horsley 2008 State Public Transportation Partnership Conference Providence, Rhode Island August 6, 2008

  2. National Transportation Visions Over the Last Century

  3. Transportation Vision Summit, Maryland, May, 2007 A multi-modal approach is needed which: • Preserves what has been built to date • Improves system performance • Adds substantial capacity in highways, transit, and rail Penobscot Narrows Bridge, ME

  4. New Dynamics Require New Solutions Improvements Needed • Intercity passenger rail in mega-regions • Double transit ridership by 2030 • Major Increase for Rural Transit • Fix bottlenecks, transit and highway capacity, HOT lanes and dedicated truck lanes

  5. New Dynamics Require New Solutions: Global Climate Change • Double the fuel efficiency of the light duty automotive fleet by 2020 • Cut the rate of growth in VMT by 50%, increase it from 3 trillion today to 5 trillion, instead of 7 trillion by 2055. • Increase percent who ride transit, walk, bike, and work at home

  6. The Crisis In Highway and Transit Funding • Shortfall in Highway Trust Fund could reduce federal aid/raid transit reserves • Skyrocketing highway construction and transit operating costs Golden Gate Bridge, CA

  7. National Surface Transportation Commission Report Got the Big Ideas Right • The need for “fundamental reform of the Federal Transportation Program” • Significant additional investment • Strong federal role • Shared funding responsibility by federal, state and local governments • Need for a multi-modal approach

  8. Federal Funding Increase Required National Transportation Capital Investment

  9. How to achieve $500 billion funding level in next authorization? • Highway Trust Fund Revenue: $250 billion • General Fund Support for Transit $ 20 billion • Tax Credit Bonds $ 50 billion • New Highway Trust Fund Revenue from highway use fees, oil excess profits taxes, or fuel tax hikes $ 100 billion • Cap and trade revenues for $ 55 billion transit, land use, ITS • Critical Commerce Corridors $ 25 billion • Total HIGHWAYS AND TRANSIT $500 billion

  10. Challenges which will make this bill the toughest challenge ever. • Gas prices at over $4 per gallon • Insolvent Highway Trust Fund • New Administration which takes office eight months before bill expires • States facing financial crisis because of troubled economy

  11. Requirements for Success • Financial Crisis of dramatic reductions in highway and transit funding may cause Congress to pass bill needed • States need to communicate that we are delivering value to the taxpayers with the dollars we have been given over last ten years. • We need to describe a reform bill which will deliver needed improvements and accountability for results

  12. Thank You http://www.transportation.org John Horsley Executive Director AASHTO

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