How Will Your State Spend its Transportation Stimulus?

How will your state spend its transportation stimulus?

Bumpier Ride Ahead for Charlotte Mass Transit

Stay Wide Open Charlotte!

"Before the bottom fell out of the economy in September, there were discussions inside CATS and among elected officials about whether to ask voters for more money. The idea was to build the entire system as quickly as possible, because rapid inflation in construction prices was threatening to make some projects too costly and unbuildable.

Bumpier ride ahead for Charlotte mass transit - Local News | CharlotteObserver.com

Mr and Mrs Transit Agencies Go To Washington

Continuing on from the AIG post below (regarding loan defaults for transit agencies) ... thank goodness Congress at least invited Transit agencies to discuss the bailout package, what with all the Detroit talk one would assume cars are the be all and end all of transportation.

It would be a travesty if Transit agencies are forced to make cuts AND raise fares at a critical time when more and more people are being turned on to transit. Yesterdays meeting looks encouraging ...

"Late yesterday, transit industry officials reported a 'very encouraging' development that could lead to a solution by week's end. The remedy would remove the incentive for banks to demand payment from transit agencies, at no cost to taxpayers."

U.S. Transit Agencies Ask Congress for Help in Averting Service Cuts - washingtonpost.com

Winging It: Amtrak will be key part of Obama's plans

An excellent analysis from this columnist; something you can carry around as a talking point:

"Transportation systems have been a government function since the Romans started building roads and can't exist unless all taxpayers - not just those who use them - support them.

Airlines use airports that today are largely self-sufficient, collecting revenue from passengers. But most of them - including Philadelphia International - were built years ago at taxpayer expense. The air-traffic control system is supported both by user fees and all taxpayers. Some of the cost of aviation security also is borne by all of us.

Likewise, highways and city streets aren't built and maintained solely with gasoline tax revenue from motorists. When you back out of your driveway to start an out-of-town trip, you're on a public street that your property and income taxes helped pay for, on your way to an airport your grandparents helped build."

Winging It: Amtrak will be key part of Obama's plans | Philadelphia Inquirer | 11/17/2008

Friends Don't Let Friends Pay More for Worse Transit

A note from Michael O'Loughlin, Director, Campaign for New York's Future:

Do you want to pay 3 dollars a ride in exchange for fewer trains or more crowded buses? Didn't think so. Well that could happen if our leaders don't step in and do something about the MTA's multi-billion dollar budget gaps.

My commute is already overcrowded – can you imagine what it will be like if the MTA starts making drastic service cuts in 2009 and can't raise the capital funds needed to maintain the system and expand service for a million more New Yorkers in the years ahead?

I just signed a petition asking our leaders to invest in the transit system that is so vital to New York's economy, our environment and our future – will you do the same? Click on your subway line below to sign the petition representing how you get around:

By investing in transit, we can invest in New York's economy, our environment and our future.

That's why the Campaign for New York's Future is organizing Keep New York Moving Day!

On November 19th – Keep New York Moving Day, we'll be at subway stops throughout the city asking commuters to sign postcards telling local leaders that now's the time to invest in transit.

But you don't have to wait until the 19th. You can sign the petition online right now like I did! Just click on your subway line above.

Click on your subway line or the bus image above and sign the petition today. Then, on Wednesday, look for us at a transit station near you.

Don't miss this chance to make your voice heard!

Judge Tells Metro And Bank To Deal

Most industries (and families) have been hit by the recent economic turmoil, specifically the global 'credit crunch' (hello, Detroit , are you there?). Among those being effected are many US Transit agencies.

Long story short, most transit agencies through 2003, received capitol funding through 'lease-back' transactions, where the agencies 'sold' much of their assets (read: buses, train cars, etc) to banks and leased those assets back (thus receiving upfront cash, while paying off over time). Banks were encouraged to assist through tax-breaks on the depreciation of the assets. The tax breaks for the banks ended in 2004, though they still held large portfolio's of transit assets.

Many of these transactions are/were insured by AIG. During these past few months, AIG (and most other insurers) credit rating has been downgraded and, without getting into the technicalities of High Finance, the lease-back transactions came into default. Meaning, all the capitol raised initially (when the agency sold the assets to the bank) are now due - not good.

Congress is 'doing what it can' ... though they seem to be more inclined to keep Detroit afloat ... this article is specific to DC ... note how this potential funding gap could effect Inauguration Day (68 days! - yippee!, but also, is telling regarding cash on hand at transit agencies (i.e. they would have to cut service IMMEDIATELY)

Judge Tells Metro And Bank To Deal - washingtonpost.com

European Tram Makers to Gain From U.S. Streetcar Push

Quick overview of the current US streetcar market, of note:

"Though the Federal Transit Administration manages a $1.6 billion program for light rail, little of it, subject to complex distribution conditions, has been distributed to streetcar construction under the Bush administration. Financing has come mainly from local communities."

With many local funding sources already identified, lessening the current restrictions on Federal funding (what little of it will be left after the Autumn of Bailout) could lead to a mini-boom for some transit agencies around the country.

European Tram Makers to Gain From U.S. Streetcar Push - NYTimes.com

70%+ Public Transportation Ballot Measures PASS

Kudos to those across the nation with taking Transportation funding as a serious ballot measure.

Over 70% of Public Transportation Ballot Measures Pass