Source: Washington Post
What's Lost in the House Budget CutsWhile there are many legitimate disagreements regarding how to cut the deficit, the continuing resolution the House passed last week goes too far by cutting almost 20 percent in the transportation budget - the largest percentage cut in all domestic discretionary programs. A nation that does not maintain its infrastructure is doomed to economic decline. We look at U.S. spending as a Democrat, a Republican and an independent - and we believe our nation needs to invest more, not less, in infrastructure.
This does not mean that improvements shouldn't be made. At present 80 percent of federal transportation funds are distributed by formula - with no competition and no performance requirements. That must stop. We must make every dollar contribute to transportation performance. All transportation spending should be consolidated into a unified transportation trust fund subject to rigorous, independent cost-benefit analysis.
A better transportation system will enhance our economic and national security and will rebuild public trust in public investments. Many new members of Congress are rightly furious about wasteful spending. By squeezing every ounce of investment gain from our infrastructure dollar we can create a transportation program that both deficit hawks and program reform leaders can get behind.
The authors are the co-chairs of the Leadership Initiative on Transportation Solvency, an initiative created by the Carnegie Endowment for International Peace to develop a non-partisan solution funding a better transportation system in the United States.