Releasing the Brake to Move America Fast Forward

by Gary Toebben

Congratulations to Caltrans and the Los Angeles County Metropolitan Transportation Authority on their success this weekend in taking down half of the Mulholland Drive bridge over the 405 Freeway in 17 fewer hours than originally scheduled. The engineers and construction crews in charge of this project made national news, earned our respect and saved the taxpayers' money. Now it's time to focus our collective attention on another big job, securing national support for dozens of other badly needed highway and transit projects in Los Angeles County.

On May 25, a bi-partisan group of four U.S. Senators, led by Environment and Public Works Chair Barbara Boxer, announced Moving Ahead for Progress in the 21st Century (MAP-21), the outline of a new transportation reauthorization bill. Similarly, Chairman of the House Transportation Committee John Mica announced his House reauthorization proposal on July 7.

While these two proposals differ greatly in specific details and the amount of funding requested, both call for the passage of a transportation reauthorization bill this year, a move we applaud as transportation infrastructure is a top priority for our nation's cities and states. As committee markups begin in the coming weeks, there is much to be worked out between the two drafts, but the time is now for a national conversation on our transportation priorities.

Highlighted in both drafts are innovative proposals that leverage local and private sector dollars to move projects forward at a much faster rate than the government can do by itself. The Los Angeles Area Chamber of Commerce is particularly supportive of one such innovation, America Fast Forward (AFF), the national model born from our local 30/10 Initiative. AFF would expand the existing Transportation Infrastructure Finance and Innovation Act (TIFIA) program to $1 billion to give state and local agencies the ability to accelerate the financing and construction of local highway and transit projects. TIFIA provides credit assistance for surface transportation projects of national and regional significance at very little cost to the federal government. The result is new jobs, traffic relief, economic development and an improved environment for everyone.

That is why the L.A. Area Chamber is working with the U.S. Chamber of Commerce and many other local chambers of commerce across the nation to show national support for a robust and innovative reauthorization bill that will address the transportation needs of our nation, create jobs and reduce air emissions. 

With so many in the construction industry out of work and the cost of projects at a historic low, now is the time to take our foot off the brake, step on the gas and pass a robust transportation reauthorization bill that includes innovative solutions that drive America Fast Forward.

And that's The Business Perspective.