Keep gas and diesel taxes stable and add new road tolls and private investment, and the road funding deficit will be solved, according to the new Bush transportation plan released July 30.
"The White House says more tolls and public-private partnerships can solve perhaps the biggest problem confronting the nation's aging infrastructure.
The administration's proposal comes as Congress gears up to start work later this year on a six-year transportation spending bill that could cost well more than $400 billion. The last multiyear bill, which expires in September 2009, carried a $286 billion tab.
Earlier this year, a bipartisan commission concluded the nation is spending only about 40% of what is needed to reduce congestion, improve safety and spur economic growth.[See related link].
Transportation Secretary Mary Peters says gas-tax rates should hold steady -- at 18.4 cents a gallon for regular gasoline and 24.4 cents a gallon for diesel, where they have stood for more than a decade -- and private money and toll revenue can address any needed increases in funding."
Thanks to Mike Keenly