File photo of U.S. Senator Charles Schumer (2010).
WASHINGTON, D.C. – U.S. Senate Majority Leader Charles E. Schumer announced that the recently-signed American Rescue Plan includes $480,249,023 that will guide Upstate New York’s pandemic-battered airports and transit systems to lift off.
Specifically, Upstate airports will receive $84,410,140, and Upstate transit systems will receive $395,838,883 of the total amount.
Schumer said that as the COVID crisis extends beyond what was initially estimated, impacting the air travel industry and public transportation systems for months on end, the federal funding allocated for them in the American Rescue Plan will help transportation systems keep their wheels turning while New York recovers from the pandemic and returns to ‘normal’.
Analysis
Although the United States has failed to sell the idea of leasing its airport terminals to the private sector over almost 25 years since the first airport privatisation programme was initiated, various events have made the public-private initiative (PPP OR P3) more popular with municipal owners.
Now the P3 is shifting into other areas of operation, with people movers and consolidated car rental facilities top of the list.
Based on some short articles by the Reason Foundation, this CAPA report examines various examples, including a groundbreaking financial deal in New York, and also where this movement might go next.
Summary