U.S. Secretary of Transportation Norm Mineta told nearly 300 delegates attending ARTBA's 16th Annual Public-Private Ventures (PPV) in Transportation Conference that traffic congestion and capacity needs are the greatest challenges facing transportation providers. Mineta, who was asked by President Bush to continue to lead the U.S. Department of Transportation in his second administration, stressed the need to expand public-private partnerships and highlighted the innovative finance initiatives included in the Bush Administration's SAFETEA surface transportation reauthorization proposal.
"I am convinced that the smart course for transportation's future requires a turn in the direction of public-private partnerships," Mineta said. "It is important to recognize that partnerships offer much more than simply a revenue source to pay for new projects. Encouraging greater partnership opportunities with the private sector offers one of the best ways to introduce fresh and innovative approaches into the way that we build and maintain transportation projects in the U.S."
Mineta said the Bush Administration would reintroduce its multi-year TEA-21 reauthorization bill early next year. In response to a question following his remarks, Mineta reiterated the administration would oppose any TEA-21 reauthorization bill that raises federal motor fuel excise, includes bond financing for transportation or uses general fund revenues.
