Thank you, Mr. Chairman. I welcome the opportunity to take part in this, the first hearing of the new Congress on reauthorization of the Inter Modal Surface Transportation Efficiency Act. It transformed what was simply a highway program into a surface transportation program dedicated to the mobility of passengers and goods. The purpose of today's hearing is to receive testimony on transportation trends, funding requirements, and the impact of transportation on the economy.
Transportation plays a critical role in the national and global economy.
There has been a great deal of emphasis on the level of funding for transportation, but minimal attention to the question of which transportation investments will yield the highest return in the future. Now more than ever, strategic investment in transportation is critical. During the 1950s and 1960s, it made the most sense for the nation to build an interstate highway system. Today, we need to be more creative. We must carefully plan and allocate limited resources.