The 2016 General Election and Transportation Investment Ballot Measures Thursday, November 10 3:30 pm EDT www.transportationinvestment.org #ARTBATIAC
Transportation Investment Advocacy Center A dynamic education program and Internet-based information resource designed to help private citizens, legislators, organizations and businesses successfully grow transportation investment at the state and local levels through the legislative and ballot initiative processes. Resources include... In-depth analysis of successful and unsuccessful transportation funding campaigns. Resource documents on transportation funding methods. Research into the politics and economics of increasing the gas tax. State, county and local transportation funding legislation and ballot tracking. Campaign resources, and more. www.transportationinvestment.org
Transportation Investment Advocates Council A national network of business professionals and public officials who share a common interest in building support for transportation infrastructure investments in their state or local community roads, bridges, public transit, pedestrian walkways and cycling paths, airports, waterways, ports and rail facilities. To join for free, contact: Carolyn Kramer Manager, Transportation Investment Advocacy Center ckramer@artba.org 202-289-4434
The 2016 General Election and Transportation Investment Ballot Measures Thursday, Nov. 10 3:30 pm EST Dave Bauer Senior Vice President of Government Relations American Road & Transportation Builders Association dbauer@artba.org 202-289-4434
Congressional Results 2016 Senate: 54-46 (2 Independents) 2017 Senate: 51-48 (2 Independents) Louisiana undecided 2016 House: 246-186 2017 House: 238-193 4 races undecided
Trump Infrastructure Plan For infrastructure construction to be financeable privately, it needs a revenue stream from which to pay operating costs, the interest and principal on the debt, and the dividends on the equity.
Trump Infrastructure Plan $167 billion in private equity to finance $1 trillion in infrastructure projects Five times leverage rate Tax credit equal to 82% of equity Tax credit repaid from tax revenue from project construction
Congressional GOP Leaders Response Senate Majority Leader Mitch McConnell McConnell also threw some cold water on Trump's infrastructure plans, calling it not a top priority. (NPR, November 9, 2016) House Speaker Paul Ryan Ryan was equally dismissive of Trump s promises to spend even more on infrastructure than the $275 billion plan Clinton has proposed. That's not in the Better Way agenda, he said, laughing. (The Atlantic, October 6, 2016)
Democratic Leader Response House Democratic Leader Nancy Pelosi As President-elect Trump indicated last night, investing in infrastructure is an important priority of his. We can work together to quickly pass a robust infrastructure jobs bill. (November 9, 2016)
Infrastructure Outlook
The 2016 General Election and Transportation Investment Ballot Measures Thursday, Nov. 10 3:30 pm EST Dr. Alison Premo Black Senior Vice President of Policy and Chief Economist American Road & Transportation Builders Association ablack@artba.org 202-289-4434
Nov 8 Transportation Ballot Initiatives 280 measures on the Nov 8 ballot Initiatives in 31 states 8 statewide initiatives $247B At Stake Record 360 ballots for 2016 primaries and general election
Nov 8 State & Local Ballot Initiatives Statewide Local Only WA * And Local Measure(s) NH MT ND ME OR ID WY SD MN WI MI NY VT MA CA* NV* AZ UT CO NM NE KS OK IA MO AR IL MS IN KY TN AL PA OH WV VA NC SC GA CT DE MD RI NJ DC AK TX LA* FL HI Source: ARTBA s Transportation Investment Advocacy Center Oct. 2016 State Funding Initiatives Report.
Nov 8 Transportation Ballots By Type Total Number of Transportation Funding Ballot Initiatives Sales/Income Tax 23% Bond 10% Gasoline Tax 9% Other 7% Property Tax 51%
Nov 8 Transportation Ballots By Value 80 70 60 50 40 30 20 10 - Number of Measures on Ballot, by Potential Revenue 15 23 $1B or Greater $100M to $999M 13 18 58 73 $50M to $99M $20M to $49M $1M to $19M < $1M
Nov 8 Transportation Ballots By Mode Transportation Funding Initiatives on the Ballot Transit 3% Multimodal 31% Ports <1% Roads & Bridges 66%
Nov 8 Transportation Ballot Results $201 billion approved Initiatives approved in 24 states IL, NJ approve lockboxes RI, ME approve transportation bonds 194 measures approved Nov 8 (69%) 268 measures approved in 2016 (74%)
Nov 8 Transportation Ballots By Type Measures Approved Nov 8, by Type 100% 90% 80% 70% 60% 89% 70% 81% 61% 69% 50% 40% 30% 20% 10% 4% 0% Bond Index Local Gas Tax Combination Property Tax Sales/Income Tax Total
Nov 8 Transportation Ballots By Value 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Percent of Measures Approved, by Revenue Range 53% 78% $1B or Greater $100M to $999M 62% 72% 52% 67% $50M to $99M $20M to $49M $1M to $19M < $1M
Nov 8 Transportation Ballots By Type Value of Winning Transportation Funding Measures Bond, $2B, 1% Gasoline Tax, $3B, 1% Combination, $54B, 27% Sales/Income Tax, $138B, 69% Property Tax, $3.7B, 2%
Nov 8 Transportation Ballots By Mode Value of Winning Measures, By Mode Transit, $61.3B 31% Roads & Bridges, $2.6B, 1% Ports, $70M, <1% Multimodal, $136.7B 68%
Value of Transportation Funding Measures Approved Nov. 8 WA $54B NH MT ND ME $102M OR MN VT ID WY SD WI MI $124M NY MA CA $133B NV $3B AZ UT $10M NM CO $39M NE KS $2M OK IA MO AR IL $79M MS IN $56M TN AL KY OH $8.8M WV GA - $4B PA VA $211M NC $1.2B SC $2.7B CT DE MD RI $70M NJ DC AK TX $990M LA $84M HI FL $568M Source: TIAC State Funding Initiatives Report, November 2015
California Market Opportunities $133B approved Statewide initiative to vote on infrastructure bonds over $2B rejected Los Angeles $120B Santa Clara $6.5B BART $3.5B Stanislaus $958M Merced County $450M Monterey County $600M Local Districts $100M 6 other counties over 50%+ approval, but no super majority
Transportation Funding Ballot Measures Approved 90% 80% 70% 60% 50% 40% 30% 74% 71% 63% 76% 80% 77% 68% 77% 85% 79% 68% 74% 74% 20% 10% 0% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Average Source: ARTBA-TIAC Election Reports 2005-2016
The 2016 General Election and Transportation Investment Ballot Measures Thursday, Nov. 10 3:30 pm EST Darren Kettle Executive Director Ventura County Transportation Commission dkettle@goventura.org 805-642-1591
The 2016 General Election and Transportation Investment Ballot Measures Thursday, November 10 3:30 pm EDT www.transportationinvestment.org For more information about ARTBA-TIAC and the Council, contact Manager Carolyn Kramer (ckramer@artba.org).