TO: AC Transit Board of Directors
FROM: Michael A. Hursh, General Manager/Chief Executive Officer
SUBJECT: Monthly Legislative Report
ACTION ITEM
AGENDA PLANNING REQUEST: ?
RECOMMENDED ACTION(S):
Title
Consider receiving the Monthly Legislative Report and approve legislative positions, if necessary.
Staff Contact:
Beverly Greene, Executive Director of External Affairs, Marketing & Communications
Body
STRATEGIC IMPORTANCE:
Goal - Strong Public and Policymaker Support
Initiative - Financial Efficiency and Revenue Maximization
The Monthly Legislative Report helps the District track state, regional and federal legislation to ensure alignment with the District's Strategic Plan and the specific goal of having strong public and policymaker support. Policy decisions at all levels of government can positively or negatively affect District operations and revenues and, as such, are important to track and influence as needed.
BUDGETARY/FISCAL IMPACT:
There is no budgetary or fiscal impact associated with this report.
BACKGROUND/RATIONALE:
Federal Update
The U.S. House of Representatives passed a bill on May 31 that increases the country's debt limit. The Senate subsequently approved the bill and soon thereafter President Biden signed it into law, thus averting a default on the nation's debt. The measure suspends the debt ceiling until January 1, 2025, providing the Treasury Department borrowing authority for two years before Congress would have to approve another debt limit increase. The bill does not touch programs from the Bipartisan Infrastructure Law, the Inflation Reduction Act , and others that are relevant to the infrastructure sector. Relevant highlights of the agreement are as follows:
* The bill provides enforceable spending caps for two fiscal years, FY24 and FY25.
* For FY24, the bill essentially cuts federal funding 1% below FY23 levels. FY25 funding would increase by only 1% over FY24.
* The bill provides 1% spending increases fo...
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