Transit Stimulus
By Daniel Strauss - Dec 8th, 2008 at 3:33 pmMatthew Yglesias proposes a transit stimulus:
Mass transit ridership hits new record .
Of course mass transit systems generally receive a lot of funding from tax revenues. And tax revenues everywhere are going to be falling because of the recession. That will likely lead to funding cuts and reductions in service. One easy and highly beneficial form of stimulus would be for the federal government to inject funds into transit systems allowing them to increase service levels and reduce fares. This can be done a lot more swiftly than new public works but will also help lay the groundwork for good things in the long run.
I like this idea a lot for a number of reasons. Even with incredibly low gas prices, these numbers likely indicate that the economic crisis has pushed people in the direction of public transportation. But there are two reasons people would still use cars besides the fact that gas prices are very low: one is service frequency. If the bus or train doesn’t come often, enough a car is preferable. And if using public transit is virtually the same price as driving a car, people will use whatever excuse they can to not use public transportation especially, if it’s bad.
With Matt’s proposal using public transportation is better. If a stimulus like Matt’s is done the benefits are great and many: more people using public transportation cuts down on congestion and carbon emissions and improves a city’s accessibility for the people who live there. Also, increased service levels discourages car use and would mean job creation because somebody has to drive the additional buses/trains/whatever. And the best part is all this is quicker than other stimulus proposals.
(Crossposted at Pensons)
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