Blog / The Business Perspective
Tell Congress it's 30/10 or Bust
July 27, 2010
by Webmaster
Tell Congress it's 30/10 or Bust
Los Angeles is home to one of the most innovative economic stimulus plans yet — the 30/10 Initiative. However, the world's creative capital still needs our nation's capital to make it a reality. Your voice is critical to telling our local Congressional delegation that they must lead the charge on 30/10.
If you haven't heard about 30/10, it is Mayor Antonio Villaraigosa's plan to build three decades worth of voter-approved L.A. County transportation projects within the next 10 years. Accelerating construction will provide an immediate, multibillion dollar injection into our local economy and create 160,000 jobs. More mass transit options will improve mobility, help the environment and strengthen our overall quality of life.
The funding concept is simple. In 2008, L.A. County voters approved Measure R, a one-half cent sales tax increase to generate $35-40 billion over the next 30 years. We are asking the federal government to use this guaranteed funding stream as collateral for a low-interest loan and long-term bonds to get these projects done now. This is not a handout or an unfunded spending program, but rather a smart federal template for assisting "self-help" regions. In fact, the concept is now being viewed as a model for fiscally responsible infrastructure investments around the nation.
None of this will happen without the sustained and active engagement of our county's Congressional delegation. New legislation is required for the new bonds and upfront loan guarantees. Unfortunately, Congress is set to adjourn for election season without taking action so our next opportunity is after they return to Washington, D.C.
Now is the time for our members of Congress to hear from you. Contact our delegation to make 30/10 a top priority. Click here for sample text. And if you are meeting with a member of Congress or their staff here in the L.A. area, make sure to tell them that now is the time to lead on 30/10.
Business, labor, environmental and community leaders have united together in support of this landmark initiative. Its 30/10 or bust. Let’s make it happen.
And that’s The Business Perspective.
Comments
No. Stop the spending. Stop the insanity. Now.
Posted by: Patrick Rooney @ 9:30:00 am
Leave a Comment
Comments submitted are subject to review by the Los Angeles Area Chamber of Commerce prior to posting. The Chamber reserves the right to monitor and withhold comments that include personal, offensive, potentially libelous or copyright protected language, materials or links. Only comments relevant to the topic will be posted. Comments posted must have a valid email address. View our full terms & conditions.