The White House released its proposed 2011 federal budget today, including the transportation budget. For the most part, this budget is an extension of past budgets, but it includes a few new programs.
First, the budget includes $4 billion for a National Infrastructure Innovation and Finance Fund, also known as an “infrastructure bank.” The Antiplanner has a couple of problems with this idea. First, infrastructure should be paid for out of user fees, not tax dollars. Second, unlike many other transportation funds, which are distributed based on specific formulas, this fund will be an “open bucket.” This will give states incentives to come up with the wackiest, most expensive transportation projects.
