Federal reauthorization of surface transportation, aviation and intercity rail funding bills was a hot topic for the 250 attendees at the June 23-24 conference in Washington, D.C., sponsored by The Bond Buyer, a national municipal finance publication. "Some call it the perfect storm, but I call it opportunity," said Phyllis F. Scheinberg, deputy assistant transportation secretary for budget and programs. She pushed the Bush administration's $247-billion SAFETEA highway and transit proposal, claiming it would expand financing tools and encourage private-sector involvement.
But participants were concerned over surface transportation and aviation bills expiring Sept. 30 while the congressional clock ticks toward legislators' mid-August recess. Slow progress on the bills has raised fears that Congress may settle for a stopgap transportation funding bill. Scheinberg worries that would require tapping the trust fund. "Then we won't have enough money when we do have a long-term bill," she says.