“Since its creation in 1956, the Highway Trust Fund (HTF) generally has provided stable, reliable, and substantial highway and transit funding. In recent years, however, the stability and adequacy of the HTF has diminished. Projections of future Federal investment needs and HTF revenues suggest that the situation will continue to deteriorate if nothing is done to boost revenues.”
This statement from Paying Our Way: A New Framework for Transportation Finance Report of the National Surface Transportation Infrastructure Financing Commission (February 2009) summarizes the confluence of events—declining revenue at a time of increasing investment needs—that is creating deep concern at all levels of government about the outlook for adequate funding for maintenance and capacity improvements in highway and transit assets in the United States.
While addressing the looming transportation investment crisis will require sustained commitment from a broad range of stalceholders, a key component in this effort is the funding and financing mechanisms that are, or could become, available to support investment in transportation infrastructure. In recognition of the need to discuss a broad range of tools to address the transportation “funding gap,” the AASHTO Center for Excellence in Project Finance convened a forum on September 30, 2010, at the Capitol Visitor Center in Washington, DC, for members of Congress, Congressional staff, and transportation industry stake- holders.
Discussions were organized around six sessions that addressed:
Near- and medium-term funding options for the Federal surface transportation pro grams
Current and potential future applications of Federal financing tools Funding and financing initiatives that are meeting with success at state and local levels of government and whose use could be expanded
Forum speakers included members of Congress, representatives of state and local governments, and professionals from educational and private sector transportation-focused organizations and businesses.
The AASHTO Center for Excellence in Project Finance would like to recognize partnership and funding support for the forum from the following organizations:
America 2050 at the Regional Plan Association
Fels Institute of Government at the University of Pennsylvania
Georgia Institute of Technology
Humphrey Institute at the University of Minnesota
Keston Institute for Public Finance and Infrastructure Policy at the University of Southern California
Meridiam Infrastructure
Nossaman LLP
U.S. Department of ‘ftansportation
Following a brief review of the history, current status, and outlook for Federal transportation funding, these proceedings summarize the presentations and discussion in each of the six forum sessions. White papers prepared by session speakers are included in Appendix A, and a forum participant list is provided in Appendix C.AASHTO FFF-1 pdf download.