What can the Economic Stimulus and Recovery Program be?

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Parsons Brinckerhoff hosted a webinar on the stimulus package; Hampton Roads Partnership participated

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What can the Economic Stimulus and Recovery Program be?

  1. 1. Economic Stimulus and Recovery Program Webinar Presented by Parsons Brinckerhoff February 6, 2009
  2. 2. Welcome BY GREG KELLY Today’s speakers • Mort Downey • Jeff Morales Agenda • Context • Legislative Process • Implementation • Implications and Consequences • Q&A Discussion 2 February 6, 2009
  3. 3. Context FOCUS ON INFRASTRUCTURE Setting the stage • Unprecedented focus on infrastructure, including transportation, in Presidential campaign • Strong push from Governors, Mayors • Specific commitments from candidates/President-elect Obama and Vice-President-elect Biden • Recognition of positive economic impact of investment 3 February 6, 2009
  4. 4. Context FRAMING THE ADMINISTRATION’S APPROACH 1. Create and Preserve Jobs Now 2. Fix It First 3. Strengthen Communities 4. Support Commerce 5. Foster Innovation 6. Leverage the Investment Accountability 4 February 6, 2009
  5. 5. Context OPERATING ENVIRONMENT Complicated – Can’t make it more so Challenging Everybody’s Watching Uncertain But Short Game Once Whistle Blows 5 February 6, 2009
  6. 6. Context WHAT IS THE ECONOMIC RECOVERY PROGRAM? A jobs bill SAFETEA-LU reauthorization Means of providing funding to Demonstration of national programs that can produce jobs investment priorities quickly ~ 1-year’s additional funding Money w/ no strings attached @ 100% federal funds Accelerated decisions Business as usual 6 February 6, 2009
  7. 7. Legislative Process CURRENT SNAPSHOT* Selected Transportation Infrastructure Elements: Program House Senate Formula Grants Highways and Bridges $30.0 Billion $27.0 Billion Transit $9.5 Billion $8.4 Billion Amtrak $0.8 Billion $0.9 Billion Discretionary Grants New Multi-Modal Program - $5.5 Billion New Starts / Small Starts Transit $2.5 Billion - Intercity Pax Rail State “Corridors” $0.3 Billion $2.3 Billion Airport Improvement Program $3.0 Billion $1.1 Billion * EVOLVING – PRESSURE FOR BILL PASSAGE BY MID-FEBRUARY 7 February 6, 2009
  8. 8. Legislative Process WHAT’S REMAINING Steps • Senate Passage • “Go to Conference” • Enactment Infrastructure funding amounts still in play, but not likely to change significantly Need greater focus on details, e.g.: • “FTA obligations” • New Starts “contracts” • Metropolitan area sub-allocation • Maintenance of effort and reporting 8 February 6, 2009
  9. 9. Legislative Process WHAT IS USDOT DOING TO GET READY? Pressure to deliver Opportunity to be central to agenda Won’t have additional political leadership in place for some time FHWA FTA FRA FAA Interagency Tiger Team 9 February 6, 2009
  10. 10. Implementation KEY STEPS Between now and enactment • Treat as a separate program Appoint director, reporting to agency head • Develop processes and interagency agreements for accelerating implementation and assuring that deadlines are met • Identify potential projects to meet needs Resolve timelines and any remaining pre-obligation steps • Coordinate w/ MPO, local jurisdictions, and federal agencies • Secure needed program management resources • FOCUS ON KEY GOALS: JOBS, ECONOMIC IMPACT, DELIVERY 10 February 6, 2009
  11. 11. Implementation KEY STEPS After enactment • Program management • Obligation of funds • Effective spending • Construction management • Data collection • Accountability • Maintenance of effort • Discretionary applications (if programs retained) 11 February 6, 2009
  12. 12. Implications CONSEQUENCES Unprecedented opportunity • Success breeds success Spending money wisely + meeting schedule = demonstrating need Downside risks • Agency level Unmet infrastructure needs Political risk of forfeiting 100% federal funds • Industry level FY10 Appropriations SAFETEA-LU and FAA reauthorizations 12 February 6, 2009
  13. 13. Implications WHAT CAN THE ECONOMIC RECOVERY PROGRAM BE? It CAN be a down-payment on a sustained investment as well as an opportunity to show how agencies can deliver 13 February 6, 2009
  14. 14. Questions and Answers Discussion For additional resources, please see www.pbstimulus.com 14 February 6, 2009

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