Resource Type

Public Transit: Challenges Funding, Investing in Systems, and Coordinating Services (open access)

Public Transit: Challenges Funding, Investing in Systems, and Coordinating Services

Testimony issued by the Government Accountability Office with an abstract that begins "The Moving Ahead for Progress in the 21st Century Act (MAP-21) authorized $10.6 and $10.7 billion for fiscal years 2013 and 2014, respectively, for public transit, but did not address long-term funding. Federal funds available for FTA's transit programs come from the general fund of the U.S. Treasury and the Mass Transit Account of the Highway Trust Fund. The Highway Trust Fund supports surface transportation programs, including highways and transit, and is funded through motor fuel and other highway use taxes; however, revenues have eroded over time because federal fuel tax rate stagnation, fuel efficiency improvements, and the use of alternative fuel vehicles. In May 2013, the Congressional Budget Office estimated that to maintain current spending levels plus inflation between 2015 and 2022, the Fund will require over $132 billion more than it is expected to take in over that period. GAO reported that while Congress transferred over $50 billion in general revenues to the Fund since fiscal year 2008, this approach may not be sustainable given competing demands for funding. For these reasons funding surface transportation remains on GAO's High-Risk List."
Date: January 16, 2014
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Property and Casualty Insurance: Effects of the Nonadmitted and Reinsurance Reform Act of 2010 (open access)

Property and Casualty Insurance: Effects of the Nonadmitted and Reinsurance Reform Act of 2010

A letter report issued by the Government Accountability Office with an abstract that begins "Surplus lines insurers' premiums written have increased modestly and the companies have generally remained profitable. From 2008 through 2012 premiums written by surplus lines insurers, who sell property/casualty insurance through brokers in states where they are not licensed, grew slightly from $24.8 billion to $25.2 billion and remained stable at around 5 percent of the property casualty market as a whole. Over this time, surplus lines insurers' premiums generally exceeded their claims and underwriting expenses and they remained profitable. Surplus lines insurers also saw capital gains over this period."
Date: January 16, 2014
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Federal-Aid Highways: Federal Highway Administration Could Further Mitigate Locally Administered Project Risks (open access)

Federal-Aid Highways: Federal Highway Administration Could Further Mitigate Locally Administered Project Risks

A letter report issued by the Government Accountability Office with an abstract that begins "Newly available data from the Federal Highway Administration (FHWA) show the extent and some characteristics of locally administered projects, but other key data are not being collected. From July 2012 to June 2013, local agencies administered about 12 percent or $3.8 billion of the $31 billion in federal-aid funding obligated during that period. The federal share was less than $250,000 for over half of the projects. However, FHWA neither collects information on which local agencies are administering federal-aid projects nor the capabilities of those agencies--information that would allow FHWA to identify the extent and magnitude of its risks and more effectively target its oversight of the states."
Date: January 16, 2014
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library