OCBC Indicator eNewsletter
Tuesday, February 17, 2009 Volume 2 Issue 149  
Home
View By Topic
Featured Stories
Membership
Upcoming Events
In This Issue
OCBC Responds to State Budget Proposal: Get It Done!
USC’s Pete Carroll Inspires Business Leaders
at OCBC Annual Dinner: Compete to Succeed

OCBC Chairman Larry Buster Leads the Charge for 2009
What Does Federal Economic Stimulus Mean for Southern California?
OCBC Washington, D.C Advocacy Trip: March 9 - 11
OCBC Being Honored as "Good Neighbor"
BIZPAC Honors Former Republican Senate Leader
Dick Ackerman

OC Hispanic Chamber Honors OCBC's
Latino Educational Attainment Intiative

OCBC Offers Toshiba Direct Discounts!
Welcome New OCBC Investors!
Committee Meetings
Community Events
Subscribe

Enter your email address below to subscribe to this newsletter:


Add Remove
Send as HTML
 

ARCHIVE
February 3, 2009
January 17, 2009
December 23, 2008
December 9, 2008

[MORE]
What Does Federal Economic Stimulus Mean for Southern California?

The United States is poised to enact the largest economic stimulus package in history. The president and congressional leaders have told the nation they intend to use stimulus funds to upgrade roads, bridges, mass transit and other infrastructure - something most Americans agree should be a high priority. But so far, the reality is quite different from the rhetoric.

A substantial investment of stimulus funds in transportation would both create jobs in the near term and provide a lasting return to taxpayers and the economy by improving mobility and the movement of goods and services. Americans say they want their tax dollars spent on infrastructure. Politicians say they want to make infrastructure funding a priority. So what's the problem?

Leadership is needed now more than ever to ensure that a significant portion of the economic stimulus money goes to worthwhile transportation projects that are "ready to go" but lack funding. Locally, those include extending the northbound carpool lane on the 405 freeway between the 10 and 101 freeways.

Transportation projects covered by the stimulus package should be funded according to existing processes to avoid wasting time creating new programs or squandering money on "earmarked" projects that provide little benefit. However, the rush to spend money quickly shouldn't result in projects being picked merely because they are easy and quick to complete. Stimulus funds should go to projects that can provide meaningful congestion relief, safety improvements and economic growth.

To create jobs and substantially improve transportation networks, stimulus funds should add to, and not replace, existing state and local transportation investments. A final plan should ensure that states and localities do not divert existing transportation resources to other purposes.

Stimulus projects should be "fast-tracked" to initiate construction and provide job growth as quickly as possible. Clear direction should be provided by the president and congress to federal, state and local agencies to "cut through the red tape." To have its intended effect, stimulus money cannot wait for business as usual.

And finally, the public should be informed of the projects to be built with stimulus funds and the results of the improvements. State and local officials should be held accountable for spending the funds efficiently and effectively and for demonstrating the results of these expenditures.

Congress and the new administration have a historic opportunity to help correct decades of under-investment in infrastructure. Americans need to let them know loud and clear that this is what they want.

Thomas V. McKernan is chief executive officer of the Automobile Club of Southern California.

[PRINTER FRIENDLY VERSION]

Published by the Orange County Business Council
The Indicator e-Update: Events Edition is a monthly free information service for OCBC members and associates.
TELL A FRIEND
Powered by IMN