Keyword: privateinvestment
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During the 2016 presidential campaign, Donald Trump—like his opponent Hillary Clinton—spoke glowingly about infrastructure spending, alluding to Franklin Roosevelt’s Works Progress Administration and Dwight Eisenhower’s Interstate Highway System as examples of how spending on roads, bridges and airports helped unite the country. For 2017, the American Society of Civil Engineers has given America’s infrastructure an overall grade of D+, estimating it would cost more than $4 trillion to upgrade properly. But President Trump’s $1 trillion dollar, 10-year infrastructure plan has so far moved along at a halting pace. This tortoise-like process may offer an opportunity to think more strategically about...
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Dozens of public transit projects around the country are in danger of stalling as the White House's plan to boost U.S. infrastructure fails to gain momentum - with thousands of jobs at risk. The uncertainty over these projects has worsened in recent days as President Donald Trump - who had vowed to make the week's focus infrastructure - faced a series of distractions, including a congressional hearing featuring former FBI director James Comey. The president, who had called for $1 trillion in new infrastructure programs to create millions of jobs, now faces an increasing probability that not only will his...
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Maryland Gov. Larry Hogan (R) on Thursday proposed a $9 billion plan to widen three of the state’s most congested highways — the Capital Beltway, Interstate 270 and the Baltimore-Washington Parkway — in what he said would include the largest public-private partnership for highways in North America. The projects would add four toll lanes each to Maryland’s portion of the Capital Beltway (I-495) and to I-270 from the Beltway to Frederick. It would also widen the Baltimore-Washington Parkway (MD 295) by four toll lanes after taking over ownership from the federal government. Because of private-sector involvement, Hogan said, the plan would...
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LONDON — The rest of the planet bears a warning for President Trump’s plan to lean heavily on private business in conjuring a trillion dollars’ worth of American infrastructure: Handing profit-making companies responsibility for public works can produce trouble. In India, politically connected firms have captured contracts on the strength of relationships with officialdom, yielding defective engineering at bloated prices. When Britain handed control to private companies to upgrade London’s subway system more than a decade ago, the result was substandard, budget-busting work, prompting the government to step back in. Canada has suffered a string of excessive costs on public...
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This week, while Donald Trump ensnares himself in the most serious threat to his presidency to date, Congress is, to some extent, continuing with the typical business of government. A series of hearings during “Infrastructure Week†are focusing on the administration’s rumored infrastructure plan.Although the White House has been talking up private infrastructure investment as a replacement for public funding, a panel of experts told Congress that, even with perfectly executed public-private partnerships, the federal government still needs to provide its own support — especially for projects, like transit lines, that aren’t guaranteed to generate toll revenue for profit-seeking investors.This...
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Texas is spending record amounts on transportation, but lawmakers worried it is not enough are considering extending a controversial program that’s helped spread tollways through some of the state’s largest areas. A bill approved this week by a House committee would give the Texas Department of Transportation a chance to add six additional projects, including the widening of Interstate 45 north of I-10 and a long-planned Hempstead Tollway, meant to relieve traffic on U.S. 290 with the potential for a commuter rail corridor. The bill, by state Rep. Larry Phillips, R-Sherman, would also allow TxDOT or regional officials the chance...
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WASHINGTON (AP) - Democrats had hoped the one big policy area they could find common ground with President Donald Trump on was infrastructure, but they don't like what they're hearing from administration officials about the transportation portion of the plan that's still in the works. Trump has promised to generate $1 trillion in infrastructure spending over 10 years. With two of his other top campaign pledges in trouble - an effort to repeal and replace the Obama administration health care law has failed so far, and without savings to the government from health care changes there may not be enough...
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Texas had high hopes for the southern segments of SH 130, a 41-mile stretch of the high-speed toll road east of San Antonio. The state had put off building that stretch of road until a pair of investors stepped forward and offered what sounded like a great deal: Texas would get a big check for turning the rights to build and operate the toll road over to a private entity, a move that would give the state a new highway and a share of the tolls. The state would own the road and rake in revenue, but wouldn't have to...
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WASHINGTON — President Donald Trump has promised to revitalize America’s aging roads, bridges, railways and airports, but a plan put forward by his economic advisers relies on a transportation financing scheme that hasn’t been tried before and comes with significant risks. The plan was set out just before the election by billionaire leveraged buy-out specialist Wilbur Ross, Trump’s pick for commerce secretary, and conservative economics professor Peter Navarro, whom Trump has tapped to head his National Trade Council. They recommended the government allocate $137 billion in tax credits for private investors who underwrite infrastructure projects. Ross and Navarro estimate that...
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Rick Perry may just be the guy. The country's longest tenured governor, from its second-largest state, is generating a lot of buzz in conservative circles as he contemplates entering the wide open Republican presidential primary. There are plenty of reasons that Perry is an attractive option: he is a no-nonsense decision-maker with solid conservative credentials. A man who not only speaks about family values, but lives them, Perry's power to persuade voters to see things his way is proven -- battle-tested in a state known for independent-minded citizens. But what serious political analysts on both sides of the aisle will...
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With a lagging economy, high unemployment, and aging transportation systems, Americans debate the best ways to invest in their infrastructure and stimulate economic activity – from high-speed rail and congestion pricing, to cutting pork and tapping private capital. High-speed rail is a big part of the answer During the Great Depression, businesses and governments agreed that transportation modernization was essential to restoring prosperity. The 1930s saw the emergence of the freeway (the first one opening in Los Angeles in 1940) and the airport as important modes of transportation. Together with the National Interstate and Defense Highways Act of 1956, these...
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There is rising criticism that the Machang Bridge, which opened in July at the cost of millions of won, is only enriching speculative capitalists with tax money. They say that throughout the country, roads built through private investment are becoming white elephants where investors eat tax money via rough traffic predictions and contracts with excessive profit guarantees. The province of South Gyeongsang spent 380 billion won (US$337 million) in budget outlays and 190 million won in private capital to build the Machang Bridge linking Changwon and Masan. For the next 30 years, the earnings from the bridge tolls will be...
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In my recent letter to you concerning the TTC, I misquoted some information about the company known as Cintra. Mr. Patrick Rhodes of Cintra wrote in response to my mistake. Therefore, I stand corrected with the following: Fellow citizens, the company, Cintra, is not affiliated with ZAI-ACS. Cintra is partnered with Zachry on some TxDOT projects and ACS is partnered with Zachry on some other TxDOT projects. Therefore, I hope this clarifies the over-zealous statements in my letter. Cintra is a Spanish-owned company, and ACS is a larger Spanish-owned company. Zachry, a Texas company, is affiliated with each of them...
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TEXARKANA — The company selected to design Interstate 69 has revealed plans to also implement the world’s first air rail freight system in the corridor, possibly starting in Texarkana, Texas. “You [Texarkana ] have railroads here, you already have an interstate, bringing I-69 is another interstate, you’ve got Oklahoma, you’ve got I-49,” said Gary Kuhn, senior project manager for Zachary American Infrastructure. “This is what the logistics world likes to see — that opportunity to go from one mode to another very efficiently.” In a presentation to the Wilbur Smith Rotary Club, Kuhn said the freight shuttle is a new...
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NEW YORK (Reuters) - Public investment funds based in Texas could invest directly in transportation projects through a new corporation under a plan unveiled on Thursday by the state's legislative leaders and the governor. Texas has the nation's biggest road privatization plan but the legislature, reacting to criticisms that developers were enriching themselves at the expense of taxpayers, enacted a two-year moratorium. That has crimped road-building projects and led to a series of clashes between the governor and the legislature, who now have agreed on a compromise plan. Developers, including overseas companies, investment banks and private equity funds all vie...
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State highway officials said Wednesday that the first step in carrying out their decision to build a controversial toll road along the present U.S. 59, and not through farm and ranch land, is to get federal approval. Although no federal funding has been sought for the Interstate 69/Trans-Texas Corridor, the Texas Department of Transportation is bound by federal environmental law. The project has generated thick volumes about its likely impact on the natural environment and the communities in its path. The Final Environmental Impact Statement (FEIS) is expected to undergo public review late this year and then get sent to...
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The Texas Transportation Commission sounded the right notes last month in its first meeting under new leadership. Deirdre Delisi, recently appointed by Gov. Rick Perry to chair the commission, and her fellow commissioners finally seem to have gotten the message — the Texas Department of Transportation has lost the public's trust. For those with short memories, here are a few highlights that explain how that happened: •TxDOT fought to keep details of Perry's proposed Trans-Texas Corridor secret. It denied repeated requests from the media and landowners to let the public view a plan that calls for hundreds of miles of...
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State Rep. Lois Kolkhorst said it’s time for Texas transportation officials to talk about real reforms to address the public outrage over the proposed Trans-Texas Corridor. The Brenham Republican’s reaction followed Thursday’s actions taken by the Texas Transportation Commission. The panel adopted a set of guiding principals and policies which will govern the development, construction and operation of all toll road projects on the state highway system and the controversial Trans-Texas Corridor. Bob Colwell, Texas Department of Transportation public information officer for the Bryan district, said the adoption of the guidelines does not reflect the final approval of Interstate 69...
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AUSTIN — Deirdre Delisi once aspired to be a diplomat, and Gov. Rick Perry may have finally granted her wish. As head of the Texas Transportation Commission, Perry's former chief of staff will test her diplomatic skills in an emotion-filled arena in which a state senator has already called her a "political hack." In an early sign of her peacemaking potential, the 35-year-old Delisi scheduled one of her first meetings as chair with that senator, Transportation and Homeland Security Committee Chairman John Carona, R-Dallas. "I was left with the impression that she genuinely wants a new and fresh start for...
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Texas Gov. Rick Perry wants to build a big highway through the Lone Star State. No, make that a really big highway, as in a monstrously big highway. The exact route hasn't been determined. The mega-highway would run roughly from Laredo on the Rio Grande River through the Hill Country and the Piney Woods and then through Texarkana in that tiny portion of the state that borders Arkansas. Imagine for a moment if that thoroughfare would be pointed in the other direction - from the Valley, through the South Plains and then through the heart of the Panhandle, right past...
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