Shearman & Sterling LLP multinational law firm headquartered in New York City, United States.

News Mar 26, 2015

Epstein, Urda Kassis and Hammes Publish Article on Transportation Funding

Counsel Paul Epstein and partners Cynthia Urda Kassis and Patricia Hammes co-authored an article, titled “States Taking a Larger Role in Transportation Funding,” that was published by Law360 on March 13.

In their article, the authors examine the funding sources available for transportation projects given the fiscal constraints on state budgets and the uncertainty about future levels of federal funding. They also summarize recent state legislative proposals and federal efforts designed to address this issue. Given this uncertainty in funding, the authors believe there will be, at least for the duration of the Obama Administration, “an increase in technical support to states and other stakeholders provided by federal agencies, but without an increase in federal funding.” As a result, “states seem likely to continue their development of new revenue-raising tools and to increase private sector involvement in transportation projects through P3s, in addition to relying on their traditional funding sources.”

View the article, States Taking a Larger Role in Transportation Funding.