/PRNewswire/ -- A new report released today, authored by two members of the Bipartisan Policy Center's (BPC) National Transportation Policy Project, called on the Administration and Congress to change their approach to transportation policy saying that "the nation can no longer afford to support poorly targeted investments when the needs are so great and public resources are so constrained." The report authors, Douglas Holtz-Eakin and Martin Wachs, spoke at a press conference to release the report in Washington, D.C.
"The future of transportation policy is central to economic policy. Despite what has long been argued, investments in transportation infrastructure are not guaranteed to create jobs and simultaneously grow the economy. We must ruthlessly focus on economic growth, immediately and in the future," said Dr. Holtz-Eakin. "The need for investment is clear: our roads are deteriorating and our transportation systems are not equipped to handle increasing capacity. Still, we cannot devote additional dollars, much less borrowed dollars, to transportation programs that provide an uncertain number of jobs and no lasting economic benefit."
The report, Strengthening Connections Between Transportation Investments and Economic Growth, outlines three specific policy changes the Administration and Congress can make to ensure that scarce public dollars are spent wisely and, at the same time, create employment opportunities in the short-term and contribute to the nation's economic recovery in the long-term.
First, the report recommends that no new funds be allocated to existing transportation programs if they provide questionable job-creation, unclear long-term benefits or if the programs are solely an effort to increase short-term employment. Second, investments should be directed to programs that are both "shovel-ready" and provide long-term benefits. These investments can help ease unemployment while also building the nation's economic future. Finally, federal transportation investments should not be constrained by the silos and restrictions that dominate the federal government's existing surface transportation program. "Instead of focusing on how the money is spent – that is, on whether funds go to operations versus capital or to highway versus transit – the focus must shift to the outcomes being achieved with a particular expenditure," said the report. "If the most pressing outcomes at this point in time relate to job creation and long-term economic recovery, both of those outcomes should drive decisions about how to allocate federal resources and measure progress."
"In addition to addressing long-term transportation-related objectives including safety, energy independence, and environmental sustainability, Congress should consider investments that result in higher productivity," said Dr. Wachs. "These investments will improve economic well-being by increasing connectivity and accessibility to jobs while reducing congestion. Ideally, there is an approach to transportation investment that advances both goals - enduring productivity gains and immediate job creation. To do this, there must be flexibility within the system to pursue the highest returns on spending."
The BPC's National Transportation Policy Project is a group dedicated to reforming federal surface transportation policy in a way that ensures federal investments are held accountable for demonstrating results toward the achievement of national goals. Its members include former Republican and Democratic members of Congress, local-elected officials, business and civic leaders, and transportation stakeholders and experts. The project released its blueprint for surface transportation reform, Performance Driven: A New Vision for U.S. Transportation Policy, in June 2009.
"We have repeatedly argued that not all transportation investments are equally effective, and that future transportation spending must be driven by considerations of economic merit and guided by clearly articulated federal goals, including economic growth, metropolitan accessibility, environmental protection and energy security, and safety," said JayEtta Hecker, Director of Transportation Advocacy at the BPC. "The report released today emphasizes the need for long-term returns rather than just short-term gains."
Read the full report at http://bipartisanpolicy.org/library/research/transportation-investments.
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Showing posts with label infrastructure. Show all posts
Showing posts with label infrastructure. Show all posts
Friday, January 21, 2011
Tuesday, December 8, 2009
U.S. Mayors Praise President Obama for Supporting Fiscal Relief for Local Governments and States, Targeted Infrastructure Investment, Small Business
U.S. Mayors Praise President Obama for Supporting Fiscal Relief for Local Governments and States, Targeted Infrastructure Investment, Small Business Capital
/PRNewswire/ -- The following statement from Tom Cochran, USCM CEO and Executive Director, was released today:
"The President and his advisors have been meeting with U.S. mayors. The President understands the jobs and fiscal crisis happening in America's cities, and he is calling for action," Conference of Mayors CEO and Executive Director Tom Cochran said today following President Obama's jobs address.
The U.S. Conference of Mayors has developed A Call to Action which highlights the ongoing jobs crisis in America's cities -- predicted to last for years -- and the need for more targeted investments in cities and local infrastructure to create jobs.
One of the key action items called for by mayors is "Targeted Fiscal Relief for High Unemployment Cities and Metro Areas." Cities all across the country have faced significant layoffs and budgetary cutbacks this summer, with dire local revenue projections in the coming years. ARRA provided significant fiscal assistance to states, but none to local governments. The recession is now having drastic effects at the local level. Therefore, mayors are calling on the Administration and Congress to develop a fiscal assistance program targeted to cities with high rates of unemployment and budget shortfalls. This is needed to prevent even deeper layoffs in critical areas such as public safety and public works, and help cities promote private sector job creation through local infrastructure projects.
In his address today, the President said, Congress should extend "relief to states and localities to prevent layoffs." And during the recent White House Jobs Summit on December 3 -- attended by five mayors -- the President said, "As tough as this financial crisis or recession has been on the federal budget, it has in some cases been worse on state and local government budgets... Usually, state and local government revenues lag the recovery as a whole. They may need some more help from the federal government... If you see a complete collapse in state and local government spending on basic needs, that could create a very bad business climate for all of you."
The President also called for more targeted infrastructure investment in programs such as TIGER grants and public transit, as well as support for small business lending -- all strongly supported by mayors.
The Conference of Mayors is working closely with both the Administration and Congress to ensure that in this jobs bill, more resources and infrastructure projects go directly to cities and local areas -- ensuring they are not stalled in state bureaucracies - so that more jobs can be created now.
"Mayors can be the catalyst for creating public and private sector jobs quickly, which is exactly what this economy needs now," Cochran added.
A copy of the USCM report A Call to Action is available at usmayors.org.
The U.S. Conference of Mayors is the official nonpartisan organization of cities with populations of 30,000 or more. There are 1,139 such cities in the country today, each represented in the Conference by its chief elected official, the Mayor.
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/PRNewswire/ -- The following statement from Tom Cochran, USCM CEO and Executive Director, was released today:
"The President and his advisors have been meeting with U.S. mayors. The President understands the jobs and fiscal crisis happening in America's cities, and he is calling for action," Conference of Mayors CEO and Executive Director Tom Cochran said today following President Obama's jobs address.
The U.S. Conference of Mayors has developed A Call to Action which highlights the ongoing jobs crisis in America's cities -- predicted to last for years -- and the need for more targeted investments in cities and local infrastructure to create jobs.
One of the key action items called for by mayors is "Targeted Fiscal Relief for High Unemployment Cities and Metro Areas." Cities all across the country have faced significant layoffs and budgetary cutbacks this summer, with dire local revenue projections in the coming years. ARRA provided significant fiscal assistance to states, but none to local governments. The recession is now having drastic effects at the local level. Therefore, mayors are calling on the Administration and Congress to develop a fiscal assistance program targeted to cities with high rates of unemployment and budget shortfalls. This is needed to prevent even deeper layoffs in critical areas such as public safety and public works, and help cities promote private sector job creation through local infrastructure projects.
In his address today, the President said, Congress should extend "relief to states and localities to prevent layoffs." And during the recent White House Jobs Summit on December 3 -- attended by five mayors -- the President said, "As tough as this financial crisis or recession has been on the federal budget, it has in some cases been worse on state and local government budgets... Usually, state and local government revenues lag the recovery as a whole. They may need some more help from the federal government... If you see a complete collapse in state and local government spending on basic needs, that could create a very bad business climate for all of you."
The President also called for more targeted infrastructure investment in programs such as TIGER grants and public transit, as well as support for small business lending -- all strongly supported by mayors.
The Conference of Mayors is working closely with both the Administration and Congress to ensure that in this jobs bill, more resources and infrastructure projects go directly to cities and local areas -- ensuring they are not stalled in state bureaucracies - so that more jobs can be created now.
"Mayors can be the catalyst for creating public and private sector jobs quickly, which is exactly what this economy needs now," Cochran added.
A copy of the USCM report A Call to Action is available at usmayors.org.
The U.S. Conference of Mayors is the official nonpartisan organization of cities with populations of 30,000 or more. There are 1,139 such cities in the country today, each represented in the Conference by its chief elected official, the Mayor.
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Monday, June 22, 2009
New Federal Transportation Bill Connects Needed Reforms to Fighting Climate Change
/PRNewswire/ -- Implementing the goals and reforms of the $450 billion transportation reauthorization bill, if accompanied by real accountability and performance measures, will move America's transportation system in a direction that supports our national economic, energy, and environmental goals, according to Environmental Defense Fund.
The bill, formally called The Surface Transportation Authorization Act of 2009, was introduced today by Transportation and Infrastructure Committee Chairman James Oberstar (D-MN), and cosponsored by the top ranking GOP member on the Committee John Mica (R-FL), Highways and Transit Subcommittee Chairman Peter DeFazio (D-OR) and the top ranking GOP member of the Subcommittee John Duncan (R-TN).
"Chairman Oberstar, Chairman DeFazio, and Ranking Members Mica and Duncan have put forward a clear vision for transportation policy that shines a spotlight on both environmental and economic sustainability," said Environmental Defense Fund's Climate and Infrastructure Policy Director Colin Peppard. "Their vision seeks to reduce the substantial greenhouse gas pollution produced by the transportation sector, supporting ongoing efforts to fight climate change by capping carbon emissions."
"However, more work needs to be done to ensure that these forward-thinking goals are fully supported by the policies, programs, and funding laid out in this critical piece of legislation," concluded Peppard. "Questions remain as to whether state and local governments will truly be held accountable for delivering better transportation, economic, and environmental performance. Environmental Defense Fund is looking forward to working with the leadership and members of the Transportation Committee to craft a bill that will yield the concrete results and performance that justify an increased investment of taxpayer dollars in our nation's transportation infrastructure."
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The bill, formally called The Surface Transportation Authorization Act of 2009, was introduced today by Transportation and Infrastructure Committee Chairman James Oberstar (D-MN), and cosponsored by the top ranking GOP member on the Committee John Mica (R-FL), Highways and Transit Subcommittee Chairman Peter DeFazio (D-OR) and the top ranking GOP member of the Subcommittee John Duncan (R-TN).
"Chairman Oberstar, Chairman DeFazio, and Ranking Members Mica and Duncan have put forward a clear vision for transportation policy that shines a spotlight on both environmental and economic sustainability," said Environmental Defense Fund's Climate and Infrastructure Policy Director Colin Peppard. "Their vision seeks to reduce the substantial greenhouse gas pollution produced by the transportation sector, supporting ongoing efforts to fight climate change by capping carbon emissions."
"However, more work needs to be done to ensure that these forward-thinking goals are fully supported by the policies, programs, and funding laid out in this critical piece of legislation," concluded Peppard. "Questions remain as to whether state and local governments will truly be held accountable for delivering better transportation, economic, and environmental performance. Environmental Defense Fund is looking forward to working with the leadership and members of the Transportation Committee to craft a bill that will yield the concrete results and performance that justify an increased investment of taxpayer dollars in our nation's transportation infrastructure."
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Thursday, January 8, 2009
Obama Ignores Economic Experts on Stimulus Plan
/PRNewswire-USNewswire/ -- President-elect Barack Obama and the new 111th Congress will soon be rolling-out an economic stimulus plan. The stimulus package will no doubt cost taxpayers hundreds of billions of dollars, and there is no guarantee it will achieve its goal of rescuing most Americans from the failing economy.
One free, easy and guaranteed method to stimulate the U.S. economy is to channel federal infrastructure funds to our nation's nearly 27 million small businesses. U.S. Census Bureau statistics show 98 percent of all U.S. firms have less than 100 employees. These firms create over 85 percent of all new jobs and employ over 56 percent of all private sector workers.
So far President-elect Obama has completely ignored this simple, quick and cost effective method of stimulating the national economy.
In a recent appearance on CNN's Late Edition with Wolf Blitzer, two of America's top economic experts, Laura Tyson and Carly Fiorina agreed that directing federal infrastructure funds to small businesses was a foolproof and easy way to create millions of jobs and immediately boost the failing economy. Tyson is the former Chair of the U.S. President's Council of Economic Advisers during the Clinton Administration and is currently an economic adviser to President-elect Barack Obama. Fiorina is the former CEO of Hewlett-Packard and McCain campaign economic advisor.
This method of stimulating the nation's failing economy would be virtually free to taxpayers and would have an immediate positive effect on the economy. It could be implemented immediately, because it would be based on existing federal programs designed to direct federal funds to small businesses. The Small Business Reauthorization Act of 1997 stipulates that a minimum of 23 percent of all federal prime and sub-contracts be awarded to small businesses.
Since 2002, over a dozen federal investigations have found fraud, abuse, loopholes, and a blatant lack of oversight by federal officials, which have allowed billions of dollars in federal contracts earmarked for small businesses to wind-up in the hands of Fortune 500 firms. Additionally, ABC, CBS and CNN, along with most of the nation's largest newspapers have reported the dramatic abuses in these programs.
It has been estimated that as much as $100 billion a year in federal small business contracts are diverted to Fortune 500 firms and other large businesses. If these funds were redirected to the middle class economy as Congress originally intended with the passage of the Small Business Act of 1953, there would be a significant, undeniable and immediate impact on the national economy.
If President-elect Obama is searching for the most cost effective and immediate way to stimulate America's faltering economy, legislation to direct federal infrastructure funds to America's small businesses should be implemented as soon as possible.
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One free, easy and guaranteed method to stimulate the U.S. economy is to channel federal infrastructure funds to our nation's nearly 27 million small businesses. U.S. Census Bureau statistics show 98 percent of all U.S. firms have less than 100 employees. These firms create over 85 percent of all new jobs and employ over 56 percent of all private sector workers.
So far President-elect Obama has completely ignored this simple, quick and cost effective method of stimulating the national economy.
In a recent appearance on CNN's Late Edition with Wolf Blitzer, two of America's top economic experts, Laura Tyson and Carly Fiorina agreed that directing federal infrastructure funds to small businesses was a foolproof and easy way to create millions of jobs and immediately boost the failing economy. Tyson is the former Chair of the U.S. President's Council of Economic Advisers during the Clinton Administration and is currently an economic adviser to President-elect Barack Obama. Fiorina is the former CEO of Hewlett-Packard and McCain campaign economic advisor.
This method of stimulating the nation's failing economy would be virtually free to taxpayers and would have an immediate positive effect on the economy. It could be implemented immediately, because it would be based on existing federal programs designed to direct federal funds to small businesses. The Small Business Reauthorization Act of 1997 stipulates that a minimum of 23 percent of all federal prime and sub-contracts be awarded to small businesses.
Since 2002, over a dozen federal investigations have found fraud, abuse, loopholes, and a blatant lack of oversight by federal officials, which have allowed billions of dollars in federal contracts earmarked for small businesses to wind-up in the hands of Fortune 500 firms. Additionally, ABC, CBS and CNN, along with most of the nation's largest newspapers have reported the dramatic abuses in these programs.
It has been estimated that as much as $100 billion a year in federal small business contracts are diverted to Fortune 500 firms and other large businesses. If these funds were redirected to the middle class economy as Congress originally intended with the passage of the Small Business Act of 1953, there would be a significant, undeniable and immediate impact on the national economy.
If President-elect Obama is searching for the most cost effective and immediate way to stimulate America's faltering economy, legislation to direct federal infrastructure funds to America's small businesses should be implemented as soon as possible.
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Tuesday, December 23, 2008
American Small Business League: Obama to Create Loopholes for Venture Capitalists
/PRNewswire-USNewswire/ -- The following was released today by the American Small Business League:
President-elect Barack Obama is preparing to create significant changes in federal contracting law that will allow some of the nation's wealthiest investors to receive federal contracts earmarked for small businesses. Under the banner of "increasing access to capital" for small businesses, the policies will allow firms controlled by individual venture capitalist and even large venture capital firms to participate in federal small business contracting programs.
The Obama Administration's new pro-venture capital policy could virtually repeal the Small Business Act for legitimate American small businesses by modifying the longstanding federal definition of a small business as "independently owned."
Under the proposed Obama Administration policy, "independently owned" will be changed to include firms that are not independently owned, but are actually controlled by wealthy investors and possibly some of the nation's largest venture capital firms.
Opponents of the new policy say it appears to be designed more to increase wealthy venture capitalist access to billions of dollars in federal small business contracts as opposed to "increasing access to capital" for legitimate small businesses.
If the policy is successfully implemented it could force the average American small business to compete head-to-head with firms controlled by wealthy investors for even the smallest government orders for goods and services. Thousands of middle class jobs could be lost as billions of dollars in federal small business contracts are diverted to a small number of venture capitalist controlled firms.
The plan will likely include a provision that would exempt the venture capitalist owned firms from capital gains taxes. The Obama-Biden Transition Team website, www.change.gov mentions such a proposal.
The appointment of multi-millionaire venture capitalist Karen Mills to head the Small Business Administration (SBA) is the latest indication that President-elect Obama is moving forward with his plans to divert government small business contracts to venture capital controlled firms.
The National Venture Capital Association (NVCA) and its members have been lobbying for the new loophole in federal contracting law for more than two years. The NVCA and its members have contributed millions of dollars to Obama and key Democratic leaders in Congress such as Nancy Pelosi, John Kerry, Joe Lieberman and Hillary Clinton. (http://www.maplight.org/map/us/interest/F2500)
"The easiest and quickest way to stimulate our nation's failing economy is for the government to spend infrastructure funds with America's 27 million small businesses that create all the new jobs and employ most Americans," American Small Business League President Lloyd Chapman said. "This new Obama policy will do just the opposite and will push our economy closer to a depression by diverting billions of dollars in federal funds away from middle class America and into the hands of small number of wealthy investors that backed Obama."
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President-elect Barack Obama is preparing to create significant changes in federal contracting law that will allow some of the nation's wealthiest investors to receive federal contracts earmarked for small businesses. Under the banner of "increasing access to capital" for small businesses, the policies will allow firms controlled by individual venture capitalist and even large venture capital firms to participate in federal small business contracting programs.
The Obama Administration's new pro-venture capital policy could virtually repeal the Small Business Act for legitimate American small businesses by modifying the longstanding federal definition of a small business as "independently owned."
Under the proposed Obama Administration policy, "independently owned" will be changed to include firms that are not independently owned, but are actually controlled by wealthy investors and possibly some of the nation's largest venture capital firms.
Opponents of the new policy say it appears to be designed more to increase wealthy venture capitalist access to billions of dollars in federal small business contracts as opposed to "increasing access to capital" for legitimate small businesses.
If the policy is successfully implemented it could force the average American small business to compete head-to-head with firms controlled by wealthy investors for even the smallest government orders for goods and services. Thousands of middle class jobs could be lost as billions of dollars in federal small business contracts are diverted to a small number of venture capitalist controlled firms.
The plan will likely include a provision that would exempt the venture capitalist owned firms from capital gains taxes. The Obama-Biden Transition Team website, www.change.gov mentions such a proposal.
The appointment of multi-millionaire venture capitalist Karen Mills to head the Small Business Administration (SBA) is the latest indication that President-elect Obama is moving forward with his plans to divert government small business contracts to venture capital controlled firms.
The National Venture Capital Association (NVCA) and its members have been lobbying for the new loophole in federal contracting law for more than two years. The NVCA and its members have contributed millions of dollars to Obama and key Democratic leaders in Congress such as Nancy Pelosi, John Kerry, Joe Lieberman and Hillary Clinton. (http://www.maplight.org/map/us/interest/F2500)
"The easiest and quickest way to stimulate our nation's failing economy is for the government to spend infrastructure funds with America's 27 million small businesses that create all the new jobs and employ most Americans," American Small Business League President Lloyd Chapman said. "This new Obama policy will do just the opposite and will push our economy closer to a depression by diverting billions of dollars in federal funds away from middle class America and into the hands of small number of wealthy investors that backed Obama."
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