Infrastructure

WASHINGTON - President-elect Barack Obama yesterday announced his economic team and said he has directed them to draft a broad, multibillion-dollar stimulus package within the next two months that would provide funds for infrastructure projects. He also warned that the deficit will grow significantly whether or not stimulus legislation is enacted and did not rule out repealing Bush administration tax cuts before they expire.

DALLAS - Utah has halted $3.9 billion of road projects representing all new construction amid a worsening budget crunch, officials said.

The Triborough Bridge connecting Manhattan, Queens, and the Bronx was renamed the Robert F. Kennedy Bridge last week, but don’t look for TBTA — Triborough Bridge and Tunnel Authority — debt to be renamed “RFKBTA” bonds.

Sens. John Kerry, D-Mass., and Arlen Specter, R-Pa., have introduced a bill that would provide up to $8 billion of private-activity bonds for high-speed rail projects, as well as create a new category of tax-credit bonds to further encourage rail development.

A plan to increase tolls in Massachusetts is facing resistance from legislative leaders, while Gov. Deval Patrick works on a plan to dismantle the Massachusetts Turnpike Authority even though rising debt service costs necessitate additional revenue for the agency in the short term.

The once high-profile plan to use a public-private partnership to build a rail link between Oakland International Airport and the Bay Area Rapid Transit District’s rail system appears to have expired quietly.

The New York Metropolitan Transportation Authority unveiled a beggar's budget yesterday that threatens draconian service cuts and fare and toll increases if it doesn't get help from the city, state and federal governments. In order to close a $1.2 billion gap in 2009, the MTA would reduce staff and cut subway lines and bus routes as well as hiking tolls and fares to yield an additional 23% of revenue.

CHICAGO - Chicago's $8 billion O'Hare International Airport runway reconfiguration and expansion program marked a major milestone yesterday with the official opening of the first new runway amid questions over airlines' financial support for the future phases of the massive construction project.

CHICAGO - The Illinois State Toll Highway Authority board yesterday approved a $1.8 billion, bond-financed plan to build new interstate interchanges and add bus and ride-sharing commuter lanes - investments billed as the second phase of the $6.3 billion congestion-relief program now underway.

The New York State Thruway Authority yesterday approved a $1.16 billion budget for 2009 that includes increased bonding over the current year.