Thanks Man......
Very pumped about this......finally, spending money on something badly needed.
PRESIDENT'S NEW BUDGET PROVIDES INCREASES FOR
TRANSPORTATION
The White House today (February 14) transmitted a proposed budget to Congress calling for $3.73 trillion for fiscal year 2012 which begins on October 1, 2011. In the cover memorandum to Capitol Hill, the President states that the Administration's proposal would reduce the deficit by $1.1 trillion over ten years while still making investments in infrastructure, technology and education.
For the Department of Transportation the proposed plan provides $128 billion, an increase of $53 billion compared with what was enacted in FY 2010. Highway spending would increase to $69.7 billion, almost 70 percent more than the $41.1 billion in FY 2010. It also calls for a six year $556 billion surface reauthorization plan to modernize surface transportation infrastructure.
The plan proposes to merge rail spending with the Highway Trust Fund which currently funds most highway and transit spending into a new account to be called the Transportation Trust Fund. The Administration also reprises the creation of the National Infrastructure Bank, which would be funded through the newly reconfigured trust fund.
The Transportation Trust Fund would be comprised of other accounts, including transit programs now funded from the Transportation's discretionary grant program known as TIGER.
What is not in the budget is the source of monies that would go into the new trust fund. Already the 18.4 cents-per-gallon tax on gasoline, with levies on diesel fuel and truck sales cannot support current obligations.
The budget plan also points out that the, "current framework for financing surface transportation investments is not financially sustainable, nor does it effectively allocate resources to meet our critical material needs." It goes on to say that the President is committed to working with Congress to ensure that funding increases for surface transportation does not increase the deficit.
A breakdown of the DOT budget including allocations for their offices and programs can be viewed by clicking on this link: http://www.nitl.org/Budget2012.pdf.
PRESIDENT'S NEW BUDGET PROVIDES INCREASES FOR
TRANSPORTATION
The White House today (February 14) transmitted a proposed budget to Congress calling for $3.73 trillion for fiscal year 2012 which begins on October 1, 2011. In the cover memorandum to Capitol Hill, the President states that the Administration's proposal would reduce the deficit by $1.1 trillion over ten years while still making investments in infrastructure, technology and education.
For the Department of Transportation the proposed plan provides $128 billion, an increase of $53 billion compared with what was enacted in FY 2010. Highway spending would increase to $69.7 billion, almost 70 percent more than the $41.1 billion in FY 2010. It also calls for a six year $556 billion surface reauthorization plan to modernize surface transportation infrastructure.
The plan proposes to merge rail spending with the Highway Trust Fund which currently funds most highway and transit spending into a new account to be called the Transportation Trust Fund. The Administration also reprises the creation of the National Infrastructure Bank, which would be funded through the newly reconfigured trust fund.
The Transportation Trust Fund would be comprised of other accounts, including transit programs now funded from the Transportation's discretionary grant program known as TIGER.
What is not in the budget is the source of monies that would go into the new trust fund. Already the 18.4 cents-per-gallon tax on gasoline, with levies on diesel fuel and truck sales cannot support current obligations.
The budget plan also points out that the, "current framework for financing surface transportation investments is not financially sustainable, nor does it effectively allocate resources to meet our critical material needs." It goes on to say that the President is committed to working with Congress to ensure that funding increases for surface transportation does not increase the deficit.
A breakdown of the DOT budget including allocations for their offices and programs can be viewed by clicking on this link: http://www.nitl.org/Budget2012.pdf.
posted by KK at 8:41 AM
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