The Bond Buyer’s 9th Annual Transportation Finance / P3 Conference will bring together a uniquely diverse cross-section of all transportation finance market participants to address crucial issues facing the nation over both short- and longer-term horizons.
This conference will address:
- The uncertainty of the future of federal funding and the gas tax fallout potentially offset by stimulus package
- How the credit crunch is impacting access to capital for municipal and private-sector participants
- Will a slowing economy reduce or change travel patterns?
- The future of U.S. tax policy
Keynote Speaker
After years of forecasts that showed U.S. transportation funding sources falling short of their needs, the wolf is at the door. New estimates now project that the Federal Highway Trust Fund could be out of money as soon as next Spring, drained by an ever-growing list of projects needing funds, and an unprecedented decline in travel that’s crimping gas-tax revenues.
That shortfall comes at the same moment when support for rehabilitation and new construction is surging, as politicians look to stimulate the slumping national economy and head off future catastrophic failures. They recognize that in a time of economic weakness, public investments in the nation’s infrastructure can provide short-term stimulus and build the foundation for long-term economic growth.
Rock, meet hard place.
The nation should not continue to rely on gas tax revenues to finance transportation infrastructure needs because soaring gas prices will likely force consumers to drive less, resulting in less revenue coming in. Instead, state and local governments need to find innovative alternatives, such as congestion pricing, private financing and tolls roads to finance those needs.
The good news? We knew this day was coming – and innovative pilot programs and public-private partnerships at the state and local level could show the way to a future of broader, more stable funding sources. All it takes is the political will and education to move those ideas onto the national stage.
