Recent Streetsblog USA posts about Economics

What Happened to the Proposed ‘Transportation Tax’ on Wall Street?

By Elana Schor | Apr 5, 2010 | 1 Comment

For several weeks last fall, as members of the House infrastructure committee pushed for passage of a new six-year federal transportation bill as a strategy to rouse the economy from recession, a proposal to pay for the legislation with a small tax on oil futures trades attracted a healthy crop of Democratic cosponsors and some […]

New Survey: 84% of Transit Agencies Facing Fare Hikes, Service Cuts

By Elana Schor | Apr 1, 2010 | No Comments

Budget shortfalls exacerbated by the lingering recession have forced 84 percent of local transit agencies to hike fares, cut service, or begin considering one or both of those options since the beginning of 2009, according to a report released today by the American Public Transportation Association (APTA). (Chart: APTA) APTA’s bleak survey reflects data from […]

Wall Street Swaps Haunting Cities: How Many Transit Agencies Hold Them?

By Elana Schor | Mar 31, 2010 | 5 Comments

The vast majority of Americans could not recognize the term "credit-default swaps" until 2008, when the obscure type of Wall Street deal was pinpointed as a leading cause of the U.S. financial meltdown. Now another type of swap, centered on interest rates, is making headlines as a growing number of urban governments start to regret […]

Home Builders Net More Than $2.6B From Tax Break in Stimulus Law

By Elana Schor | Mar 24, 2010 | 3 Comments

The home-building industry scored a big win last year when Congress voted to double the tax credit for new home buyers and extend the break until next month. But that’s not the only legislative move that’s leaving smiles on home builders’ faces. (Photo: USDA) A tax break included in the Obama administration’s stimulus law is […]

As Geithner Touts Infrastructure, Skepticism Persists on $4B ‘I-Fund’ Plan

By Elana Schor | Mar 17, 2010 | 1 Comment

Treasury Secretary Tim Geithner, considered a skeptic of transportation stimulus spending by some lawmakers, yesterday joined two other White House economic advisers in endorsing new infrastructure investment as a means to jump-start the economy. Geithner (l.) said that there is "a very good economic case" for infrastructure spending. (Photo: WaPo) But the president’s proposed $4 […]

Could Transport Bill Inaction Hurt the White House’s Sustainability Push?

By Elana Schor | Mar 10, 2010 | 2 Comments

The White House’s lack of interest in passing a new long-term federal transportation bill before next spring at the earliest is common knowledge in Washington, but the Obama administration has paid little political price so far for its approach to the issue. That began to change today, thanks to two lawmakers on the House panel […]

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