Thursday, February 17, 2011

President Obama's Proposed Transportation Budget

President Obama recently released his proposed Transportation Budget for Fiscal Year 2012. The full report can be found here.

On page 1 of the full report, you will see the funding highlights:

• Provides $13.4 billion in discretionary resources in 2012, a $1.3 billion decrease from 2010 levels. (This figure excludes $109 billion in obligation limitations for the surface transportation plan. Including surface transportation obligation limitations, Department of Transportation’s total budgetary resources increase by $53 billion over 2010.)

• Includes a six-year, $556 billion surface reauthorization plan to modernize the country’s surface transportation infrastructure, create jobs, and pave the way for long-term economic growth. The President will work with the Congress to ensure that the plan will not increase the deficit.

• Jump-starts productive investment and stimulates job growth with a first-year funding boost of $50 billion in 2012.

• Provides $8 billion in 2012 and $53 billion over six years to reach the President’s goal of providing 80 percent of Americans with convenient access to a passenger rail system, featuring high-speed service, within 25 years.

• Includes $30 billion over six years for a pioneering National Infrastructure Bank to invest in projects of regional or national significance to the economy.

• Continues to invest in the Next Generation Air Transportation System—a revolutionary modernization of our aviation system.

• Initiates Transportation Leadership Awards to create incentives for State and local partners to pursue critical transportation policy reforms.

• Reduces funding for Airport Grants, focusing Federal support on smaller airports, while giving larger airports additional flexibility to raise their own resources.

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