Innovative Alternatives to the Gas Tax for Funding Transportation Programs
Recorded on June 4, 2003
Location:
The Heritage Foundation's Van Andel Center
In April 2003, Representatives Mark Kennedy (R-MN) and Adam
Smith (D-WA), introduced the Freeing Alternatives for Speedy
Transportation (FAST) Act (H.R. 1767) in the House of
Representatives. In May, Senator Wayne Allard (R-CO) will introduce
the same legislation in the Senate. By allowing states to collect
fees and tolls on new lane additions to the interstate, the FAST
Act has the potential of adding tens of billions of dollars of new
investment to our highway system without raising taxes. If enacted
into law, the FAST Act would be one of the most significant
improvements in the Federal Highway program since it was created in
1956.
Specifically, the FAST Act would allow public or private entities
to construct additional lanes on the interstate system to reduce
traffic congestion, and to finance the cost of the expansion by
collecting fees and tolls. Among the bill's other features, the
FAST Act 1) requires states to invest fee revenue in road
improvements, 2) ends the fees/tolls when the cost of improvements
are paid off, 3) allows states to include high speed toll express
lanes for motorist willing to pay the fee, 4) requires FAST-related
fees to be collected electronically, and 5) encourages private
sector investors and builders to partner with government to finance
and operate the new lanes.
Panelists will discuss implications of FAST Act and other
innovative highway reforms. Audience will have ample opportunity
for Q and A, and will have an opportunity to talk informally to
panelists during the buffet luncheon that follows.