House Budget Committee Chairman Paul Ryan, R-Wisc., released his FY 2015 budget today. In just three pages, he calls for surprisingly sensible reforms to federal transportation programs. Unlike the Obama and Camp budgets -- which I earlier criticized for continuing trust fund bailouts and merely kicking the can down the road -- Ryan makes an attempt to fix the Highway Trust Fund's revenue/outlay imbalance by refocusing transportation funding on core programs, while allowing states more flexibility to experiment with self-funding and -financing mechanisms. As Ryan notes:
The budget recommends sensible reforms to avert the bankruptcy of the Highway Trust Fund by aligning spending from the Trust Fund with incoming revenues collected. The budget also includes a provision to ensure any future general-fund transfers will be fully offset, while at the same time providing flexibility for a surface-transportation reauthorization that does not increase the deficit. The budget includes a reserve fund to provide for the adjustment of budget levels for consideration of surface-transportation legislation, as long as that legislation is deficit neutral.In addition, Ryan recommends the following positive transportation policy changes:
- Eliminate Amtrak's billion-dollar-plus annual subsidy;
- Reduce the Transportation Security Administration's outlays; and
- Eliminate the Essential Air Service.