L.A. Mayor: 30 Years of Transit Projects in 10 Years

Los Angeles Mayor Antonio Villaraigosa believes that LA's 30/10 Plan could be incorporated nationwide to speed transit projects.

From Streets Blog Network:

"The '30/10' plan would deliver 30 years of transit projects in 10 years by leveraging revenue from a local sales tax measure with federal financing. Villaraigosa and labor and business leaders say the same model could be applied nationwide - an initiative they're calling "America Fast Forward."

Full Story: What L.A.’s 30/10 Plan Could Mean for Transit Funding Nationwide

Comments

Comments

Accelerating Wealthfare

America Fast Forward is another new wrinkle in the infrastructure funding and financing game. But, at its core, it continues a wealth transfer scheme that goes back to the first national roads, canals and railroads. Basically, the general public is taxed to pay for infrastructure. If the infrastructure is well-designed and well-executed, it ends up inflating the land value of a few who are lucky or shrewd enough to own land that is well-served by that infrastructure. Typically, the owners of such sites are among the most wealthy and powerful individuals and corporations. Transfering wealth from the general public to the wealthy could be called "wealthfare."
Today, the public pays for infrastructure that provides windfall profits to a few wealthy landowners. The public will pay for construction, operation and maintenance for the foreseeable future while the landowners reap the benefits. If we want to put infrastructure funding and finance on a more sustainable and equitable footing, we must insist that the land values created by transit and other infrastructure get returned to the public sector that creates it. In this way, infrastructure can become financially self-sustaining. The tax burden can be reduced on the general public. And, with proper implementation, incentives can be created to encourage development adjacent to this infrastructure, reducing urban sprawl that destroys both our enviornment and our municipal budgets (through needless duplication of expensive infrastructure).
For more information, see http://www.justeconomicsllc.com

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