Special Briefing on Transportation Opportunities & Challenges in the New Federalism

From handing environmental reviews to states and reshuffling federal funding to navigating a looming congressional reauthorization deadline, America's transportation network stands at a critical crossroads. Moderated by William Glasgall, Volcker Alliance Public Finance Adviser and Penn IUR Fellow, and Leslie Richards, Founder and Director of the Transportation Initiative at Penn (TRIP) and Weitzman School Professor of Practice of City & Regional Planning, join our Special Briefing expert panel as we discuss the sweeping realignment of federal fiscal support for states and localities—and what it means for the future of highways, transit, safety, and railroads across the country. Speakers include: • Eryn Hurley, Chief Government Affairs Officer, National Association of Counties • Baye Larsen, Vice President/Senior Credit Officer, Moody's • Robert Poole, Director of Transportation Policy and Searle Freedom Trust Transportation Fellow, Reason Foundation • Naomi Renek, Renek LLC, former Senior Advisor, NY MTA • Lauren Schapker, Vice President of Legislative Affairs, American Road and Transportation Builders Association (ARTBA) NOTABLE QUOTES Renek: "Traditionally, there was a common understanding that improved mobility is a public good. Anything that goes into transportation, operational safety, infrastructure, reduced pollution… Federal funding has been provided based on this very basic concept that these things are good for society." Renek: "Policies and funding programs that encourage transit, active transportation and denser land use are impactful to affordability." Larsen: "Even in the midst of turmoil and the changing federal, state, local funding relationships, our transportation issuers do have tremendous flexibility and independence that stabilizes their credit profiles." Larsen: "A rapid change in access to federal funds has caught folks by surprise, and that less predictable funding freeze is typically harder to respond to than the more gradual transitions." Hurley: "Counties are actually the single largest owner and operator of local infrastructure in the country." Hurley: "Counties and other local governments received on average 14% of federal formula transportation dollars… The counties that sometimes have the greatest infrastructure needs…have the least institutional support to access federal dollars." Schapker: "We are laser focused on finding a way to get another service transportation reauthorization bill done on time that continues this robust trajectory of investment." Schapker: “"The House and Senate are working in a real bipartisan way…any proposed transit cuts…are not going to make it across the finish line." Poole: "Congress cannot continue indefinitely bailing out the highway trust fund with borrowed money." Poole: "We really should look at the alternative of devolution—devolve the revenue and spending authority to the states and localities."