Is Sen. Boxer’s Highway Plan Realistic?
Last week, Sen. Barbara Boxer unveiled her Senate Environment & Public Works Committee’s plans for surface transportation legislation. If it holds up, the plan would preserve funding and authorize it for six years, giving state and local leaders the stability they need to perform long-term projects. Unfortunately for them, there’s almost no chance her proposal will become law in the near future.
DOT’s Stimulus Spending Hits $28.4 Billion
The Department of Transportation’s payouts to states for work done under the 2009 economic stimulus law went above $28.4 billion as of May 20, the government reported, a $241 million increase from a week earlier.
Airlines Cut Profit Outlook on Higher Costs
The International Air Transport Association scaled back its 2011 industry profit forecast by more than half on Monday, to $4 billion from an estimated $8.4 billion the industry group had projected just three months ago.
Shippers Expect 9 Percent Boost in Transport Spending
Shippers are bracing for higher transportation costs, even as the economy slows, according to a second-quarter survey of more than 2,000 logistics managers. On average, the shippers expected their transportation budgets to rise 9 percent over the next year, as tighter capacity pushes rates higher across modes, according to the survey by the Wolfe Trahan equity research firm.
– Ben Dundas, Web Analyst