Transportation industry

New York Gov. David Paterson wants to increase the level of taxation on New York City businesses to support the Metropolitan Transportation Authority, the according to a press release yesterday.

WASHINGTON — South Carolina lawmakers last Wednesday voted against legislation that would have paved the way for restructuring more than $200 million of tax-exempt bonds issued by the Southern Connector 2000 Association for a 16-mile toll road in Greenville, which went into default on Jan. 1.

ARLINGTON, Va. — The Federal Railroad Administration is currently evaluating options states could use to build high-speed rail, including ways to encourage multi-state projects, deputy administrator Karen Rae said in an interview yesterday.

Policymakers should allocate 25% of all federal transportation funding to competitive programs across all modes of travel as they consider overhauling federal laws, according to a recent report by the nonprofit Bipartisan Policy Center’s National Transportation Policy Project.

WASHINGTON — Senate Democrats yesterday said they plan on Monday to take up the first of a series of jobs bills, which will include expansion of the Build America Bonds and TIGER grant programs, an extension of the transportation law, and transportation and water infrastructure funding.

SAN FRANCISCO — Despite this week’s downgrade of the rail corridor that connects them to the nation, the ports of Long Beach and Los Angeles are beginning to show signs of growth again, adding to evidence that the Great Recession is easing, analysts, economist and port officials say.

BRADENTON, Fla. — The new bi-state authority created by Kentucky and Indiana to develop a $4.1 billion finance plan to build new bridges over the Ohio River met for the first time Tuesday in an organizational session.

Moody’s Investors Service yesterday downgraded the New York Metropolitan Transportation Authority’s revenue bonds to A3 with stable outlook from A2 with negative outlook.

Senate Democrats plan to unveil a “jobs agenda” as early as this morning that would extend surface transportation programs for a year, expand the Build America Bonds program, and augment the popular TIGER discretionary transportation grant program.

SAN FRANCISCO — Moody’s Investors Service downgraded the Alameda Corridor Transportation Authority’s senior and subordinate debt yesterday, citing declines in trade volumes at the Los Angeles-Long Beach port complex.

Municipal infrastructure market participants believe that insufficient funding and the politicization of infrastructure are worse impediments to investments than corruption, earmark abuses, public policy instability, or poor creditworthiness of public authorities, according to a recent survey by KPMG LLP.

The state would privatize the Ohio Lottery and the Ohio Turnpike and use the money to fund a college scholarship program under a bill introduced last week by Sen. Kevin Coughlin.

The Michigan Department of Transportation last week put out a request for proposals seeking construction bids from companies interested in work on a new, $1.8 billion, bond-financed bridge across the Detroit River. The deadline for responses is March 17.

WASHINGTON — President Obama in his fiscal 2011 budget yesterday proposed a $4 billion infrastructure bank to fund or finance worthwhile transportation projects.

Goldman, Sachs & Co. has pulled out of a partnership with the Related Cos. to develop the 26-acre East and West Side Rail Yards in Manhattan — also known as the Hudson Yards — the parties confirmed yesterday.

CHICAGO — The Michigan Department of Transportation last week significantly cut its five-year construction plan, warning the state faces the loss of $2.4 billion in federal aid through 2014 because it lacks matching dollars.

DALLAS — With a statewide moratorium on new private toll projects still in place after more than two years, the Texas Transportation Commission is planning a bypass around that financial barrier to leverage existing funds.

The Arkansas Blue Ribbon Committee on Highway Finance has urged tax increases and a diversion of general fund revenue to finance highway construction and maintenance needs estimated at $19.1 billion over the next 10 years. Current sources would provide only $4.1 billion over the period.

Without tax increases to finance transportation infrastructure, tolling on large portions of the nation’s interstate highway system will be inevitable, Citi managing director Ronald Marino said on Friday.

SAN FRANCISCO — After appearing to close a long debate in December with the decision to award construction contracts for a rail link to the Oakland International Airport, the Bay Area Rapid Transit District now faces the threat of losing $70 million in federal stimulus funding on civil rights grounds.