That’s what the proposed $800 plus billion U.S. stimulus has come to. TPM’s Elena Schor has the details direct from Representative Jim Oberstar’s (D-MN) speech fo the U.S. Conference of Mayors.
That is why we set forth this $85-billion initiative from our committee. It’s been reduced in the final going. We expect that it’ll come out somewhere around $63 billion, but $30 billion for highways. The reason for the reduction in overall funding — we took money out of Amtrak and out of aviation; we took money out of the Corps of Engineers, reduced the water infrastructure program, the drinking water and the wastewater treatment facilities and sewer lines, reduced that from $14 billion to roughly $9 billion — was the tax cut initiative that had to be paid for in some way by keeping the entire package in the range of $850 billion.
Ryan Avent has more to say here; Matt Yglesias here.
So it’s yes to highways and tax cuts, no to transit. I’m speechless.