Feinstein backs 30/10 plan

U.S. Sen. Dianne Feinstein, D-Cal., joined today in support of the 30/10 financiing plan proposed by Mayor Antonio Villaraigosa to advance funding for Los Angeles transportation programs.
Earlie this week, Sen. Barbara Boxer, D-Ca., endorsed the proposal earlier this week.
"The 30/10 Plan is an innovative idea that could help solve Los Angeles' chronic transportation crisis and create jobs," Feinstein said.
"The key is to start by allowing the Los Angeles Metropolitan Transportation Authority to use existing Department of Transportation loan programs to accelerate construction projects now while using funds generated by the half-cent Measure R sales tax to repay the federal investment."
Villaraigosa is asking the federal government to provide assurances that would allow the MTA to issue $30 billion in bonds to accelerate construction on projects listed under Measure R, the half-cent sales tax approved by voters.