Posts Tagged "sequestration"
We’ve previously written about how Amtrak passenger rail, new public transit construction and the innovative TIGER program just had their budgets slashed in sequestration at a rate five times higher than traditional highway programs. There’s no way to prevent those cuts this year, but the Senate’s new budget for the next ten years — the first they’ve approved in years — lays the groundwork to create dedicated funding for transit, passenger rail and the innovative competitive TIGER projects, as well as generating new revenues for transportation.
If your head is spinning from trying to figure out what sequestration, the “continuing resolution” for spending and the myriad proposed budgets have on transportation funding, this simple chart is for you.
If Congress can’t come to a deal to avoid automatic budget cuts March 1, some transportation programs will take a serious hit, while others will be protected. Here’s a rule of thumb: The more innovative and popular with local communities they are, the more likely they are to feel the blow.
As part of the last-minute deal to raise the debt ceiling earlier this year, a proverbial doomsday device was put in the room with the supercommittee charged with coming up with the cuts needed to lower the deficit, in hopes of getting them to reach an agreement: Come up with the required cuts/revenue increases to hit the mark, or else hefty budget cuts of 8.2 percent across the board to discretionary programs would go into effect on January 1, 2013 and last for ten years