Maloney Continues Calls for Infrastructure Investment at Hearing on the Debt
WASHINGTON – During Thursday’s hearing of the U.S. Congress Joint Economic Committee (JEC), Ranking Democrat Carolyn B. Maloney (NY-12) called for a balanced approach to the federal budget, including both policies to deal with long-term drivers of the debt and policies to lay the groundwork for economic growth.
Rep. Maloney called for improving long-term economic growth by investing in education and infrastructure. The Congresswoman supports such infrastructure projects in her district, New York’s 12th, include the Second Avenue Subway project, East Side Access and the repairs of the Kosciuszko Bridge.
“History is instructive,” Rep. Maloney said. “Investing in broad-based economic growth was at the core of America’s success in the decades after World War II. We invested in our people through the GI Bill, and in our infrastructure, building the nation’s interstate highway system. It paid off. While publically held debt more than tripled between 1945 and 1981, it fell by about three-quarters as a share of the economy. In my district, I have made following this model a priority, ensuring that we are investing in projects like the Second Avenue Subway, East Side Access and replacement of the Kosciuszko Bridge that not only have economic benefits but also will make the lives of New Yorkers and their commutes better.”
Building the Second Avenue Subway has been one of Congresswoman Maloney's top priorities since she was first elected to Congress. Based on its progress, the Congresswoman awarded the project an A- in May for its merit, economic benefits, the MTA’s outreach efforts and the pace at which construction is being completed. The MTA says the subway will open for revenue service this December, providing a one seat ride from the Upper East Side to midtown, lower Manhattan and Brooklyn. The Congresswoman secured $1.3 billion for Phase 1 of the project and will advocate for federal funds for Phase 2 as the MTA begins construction on the uptown portion of the subway. This is the first major expansion of the New York City subway system in more than 60 years.
The Metropolitan Transportation Authority (MTA) is continuing work on its East Side Access project, for which the Congresswoman $2.6 Billion in Federal Funds. East Side Access will bring LIRR trains into Grand Central Station, cutting commuting time and reducing crowding on trains and subways in and out of Penn Station.
In addition, State DOT is making rapid progress in replacing the Kosciuszko Bridge, one of the State’s most dilapidated and poorly designed bridges. With $670 million in federal funding (roughly 85% of the total cost), the State is building two side-by-side cable-stayed bridges that will provide eight lanes for traffic with improved sight lines, wider lanes, standard shoulders, reduced road incline and a new pedestrian/bike way. The first phase of the new bridge is expected to be completed in 2017.