The CEO Council for Growth continues to monitor the Federal Surface Transportation Reauthorization legislation. Late last week, after passing through the House and Senate, President Obama signed a 90-day extension of federal transportation funding, preventing critical transportation programs from shutting down. The current legislation, Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users (SAFETEA-LU), expired more than 910 days ago and the legislation’s most recent short-term extension was set to expire on March 31, 2012. This is the ninth short-term extension of the Surface Transportation Reauthorization legislation and will now provide funding through June 30, 2012.
Maintaining and enhancing our transportation infrastructure is central to both the competitiveness of our region and our nation, as such the development of a multi-year Surface Transportation Reauthorization bill is a top priority of the CEO Council for Growth. As the legislation continues to be reviewed, the CEO Council for Growth will continue to advocate for principles we believe will benefit transportation infrastructure in the Greater Philadelphia region, including enhancing the flexibility of state and multi-state agencies to develop innovative financing and revenue streams devoted to transportation projects, including but not limited to public private partnerships and tolling.