ITDP’s global policy director and founder, Michael Replogle, joined Pennsylvania Governor Rendell, Los Angeles Mayor Villaraigosa, and Representatives DeLauro (D-CT), DeFazio (D-OR), and Lipinski (D-IL), in testifying before a U.S. House Ways and Means subcommittee hearing on infrastructure banks on May 13, 2010. Creating a National Infrastructure Bank, as proposed in H.R.2421, or a National Infrastructure Fund, as proposed in the FY2011 Department of Transportation budget could help assure more performance-based investment. ITDP’s support for such new transportation funding is dependent on accountability to cut carbon pollution, with an open and transparent project selection process that considers environmentally-protective alternatives. The U.S. should learn from experiences at other development banks. Soft loans for pre-project development costs for bus rapid transit, parking and travel demand management, congestion pricing, and non-motorized transport innovations, which could be supported by revenues from real estate value capture, public-private partnership operating concession agreements, and road user charges.
Download the testimony here.