gridlock cost this country about $80 billion a year, in wasted travel time, and@@@@@ @ @ @ na) environmental benefits, we just

think it is the perfect opportunity for the public contribution, for the public benefit, for the substantial railroad contribution, for the railroad benefit, to make it a win-win solution. as you know, we are already working hard at the state level. we appreciate your support. we're continuing to work president the federal level as well. freight transportation infrastructure to handle that. the railroad industry is prepared to do its part. and to do its part largely with private dollars. to give you an idea of that, our industry has spent for infrastructure about dr. $440 billion since 1980. it's a record that's unparalleled, i think, by any other industry. but i tell you as we look at the

demands on our system over the next 10, 15, 20, 30 years, we're not sure that we can expand enough on our own to keep up. and we're working with you on a lot of that. now, at the risk of not overstaying my welcome, i will just say that i could stand here, i'll be happy to answer any questions about our view of the economy. but i'll just say it looks like maybe it's a bottom. if we want to get more depressed, we can talk about that as well. but better days are ahead. rail is going to be an important part of those better days. we at norfolk southern, as well as others at the industry, are prepared to help the country move forward, as we have for the past several years. thanks so much for inviting me to participate today. great to see all of you and i look forward to working with all of you in the future. thanks.

[cheers and applause] >> thrau very much for being with us. i know all the governors in all parts of the country are interested in doing what we can do include rail infrastructure as part of our economic future. the new england governor's recent he articulated a division for our part of the country. are the questions for mr. moormann this morning? haley? >> wick, can you share with us thoughts about the panama canal, which as you know is being expanded, widened, deepened, because of the congestion of the ports on the west coast? are they going to be prepared in 2015 or so to take this huge increase of container threw put

and some of them go around to the east coast? >> well, that's a great question. as i said, we are seeing the migration of traffic already in the east coast. and to give you an example of that, i think in 2001, 2002, of the international container traffic, we handled into this country. 80% came to us from the west and 20% came to us from the east. this year it's more than 50%. so i think it's already done. you read about widening the canal, but i think it will accelerate that, but as much as these enormous ships. in fact, some of them are in service. we are doing a lot of investment right now to get ready for that. the heartland corridor is a big, big part of that. another big part of that, is the

port of savannah, where we've already seen substancial. one of the good news about rail infrastructure is we can't do it overnight. but we can respond a lot more quickly in terms of building rail infrastructure than you can highway infrastructure. lot of times we have the existing right of way to build on. we work through the environmental benefits, i mean, environmental issues fairly quickly. just because there's already a railroad there. and so, it's already property that's in a certain use. so, if we have two, three years vision out in the future, we can handle it. i think that's what we're doing very effectively right now.

>> the other question from mr. moormann? >> shower, just quickly. what was the total cost on that corridor project? and how was it split between private and public? >> the heartland -- my experts are sitting here with all the numbers, but i'll make them up. we in all got about $95 million out of safety lou. the state of virginia was, state of virginia was almost 10. west virginia was a little bit less than that. ohio, primarily came in through the facility. but some other as well. that and the balance which is going to turn out -- you'll notice i said the project was on time. i didn't mention the budget.

we will put eight? yeah, the total project is over $150 now. we'll be around $70 to $80 of it. but, still, a great cost effective project in terms of the benefits. >> any oirs? mr. moormann, thanks so much for being with us, and best of luck. governor rendell began to introduce our next speaker by videotape, a few minutes ago. but it's a pleasure to welcome fellow new englander to the podium. she's been focused on the need for transparency and accountability in infrastructure spending. and new sources of funding, sort of national capitol budget for some time.

it's a real honor to have her with us this morning. please welcome kong woman rosa delauro. >> thank you very much governor douglas. i'm really delighted to be here this morning with all of you to take part in what is a very, very exciting and important conversation. and if i can, just for a second. i would be remiss. i have former colleagues who are now in this exalted positions here. governor who i served with. governor richardson, both served in the house together. and, also, truly do want to acknowledge governor culver, thank you for parities pilotting in the leadership immediatings in the house in helping us find our way.

a thank you to our host, and mare for a couple of hours i can take advantage of that hospitality before i jump on the plane and get back to connecticut. it's also great to see governor o'mailly and governor patrick. thank you. and all the rest, who i don't, you know, don't know as well as i do. but thank you for the wonderful work that you do. to governor rendell, i want to say really a very special thank you. to you and governor douglas are doing about refocusing all of us on the improve of national infrastructure. but for the invitation to be here to have an opportunity to talk about the infrastructure bank. a pleasure to listen to the vice governor, and to you mr. moormann. i thank you both for your insights, and the exciting work that you are doing.

i think we could really work together if we got this bank off the ground and helped to try to make a difference. in terms of infrastructure, we are at a time of both great peril and great opportunity. everybody here is aware of the economic troubles we face right now. as governors, you are on the front lines. you know what you're forced to do, and what the every day suffering, if you will, that's been wrought by this recession. and governor rendell has been in pennsylvania today trying to deal with this difficulty. it is the longest recession that we have seen since the great depression. the unemployment rate climbed to 9.5% in june. a 26-year high.

tragically, american families are lost 18% of their net worth in 2008. but with these challenges comes a chance to make big choices about our national trajectory and to get serious about improving aging and decaying infrastructure. it is when our nation has been truly tested that wise leaders have taken the long view. and they have made strong investments in infrastructure that have both brought about a renewed and continued prosperity. even as a young republic, reeling from its first major financial crisis, the panic of 1819, governor clinton of new york held fast to his vision of a grand canal. connecting the hudson river to lake eerie. and here is a clinton that even our host, governor barbour can get behind. and thanks to his perseverence,

what had been derided as clinton's ditch, when ground broke in 1817, instead became the eerie canal. whichransformed the economy of the empire state. paid divedands throughout the rest of the century. and the town alon that canal did not peak until 1872, nearly 50 years after it opened. when america faced its greatest crisis, congress passed and president abraham lincoln signed the pacific railway act of 1862, donating the land and issuing the bonds that would come to form the trans continental railroad. by wisely planting for the future, even as our nation was rent asunder, lincoln helped tie post america together from coast to coast together. after the economic depression of the 1890's, president and former

governor teddy roosevelt came into office avowing a renewed commitment to infrastructure. he vastly expanded the national parks service. and with typical enthusiasm, he brought infrastructure not only to america, but to the world. the panama canal, transformed global trade, and yielded tremendous economic and strategic benefits for our nation. and when the great depression put one fourth of the nation out of work, president and former governor franklin roosevelt coupled short-term solutions, and then unprecedented investments in our national infrastructure. roads, bridges, highways, tunnels, parks, public buildings, were constructed all across america there you the works of progress administration. the r.e.a. wired rural areas for electricity. the t.v.a. build dams in the tennessee valley to our north. time and time again our wisest leaders have kept their eye on

the big picture. and even during, short term crisis have made long term investments in our infrastructure. and for good reason. whether you serve at the local, state or national level, we know the economic value of infrastructure. for every one billion dollars spent on transportation projects. for example, $47,000 jobs that cannot be outsourced are created, and $6.2 billion in economic activity is generated. meanwhile, the capitol markets, including central banks, pension funds, financial fusions and others are looking for sound, investment opportunities. and have a growing interest in financing infrastructure improvements. and the fact is, in america, we suffer an infrastructure deficit at the moment, ads you know in your states. the american civil engineers estimates that we need $2.2 trillion over five years just to

bring our infrastructure up to good condition. traffic congestion creates a $78 billion annual drain on our economy and loss productivity and wasted fuel. the united states ranks 15th inr r

transportation snls, or ensure we have safe drinking water. we are paving the way for new growth and for opportunity. and when we fail to do those things, when we neglect our air traffic control system, or fall drastically behind other nations in broad band adoption we create a costly drag on our economy. as vice governor zhang's address reminds us, our friends around the world understand the critical importance of infrastructure to economic growth. and having invested accordingly, china invests 9%. india, 5% and rising.

here, in america, we spend less than 2% of g.d.p. if it is true, that a civilization is measured by the quality of its roads, then we soon face a reckoning. if we are not careful, we will fall behind. we can continue to be a nation that mainly consumes, or we can try to move back to being a nation that invests and produces. and to do so, we need a 21st sentry national infrastructure policy that makes us more energy efficient, reduces our reliance on foreign oil. that means constructing smart power grids, designing buildings that consume less energy, making alternative fuels accessible and making public transportation systems more efficient. all of which will create new markets, for new jobs. and jobs that cannot be

outsourced. for these reasons and many more, it's time to prioritize, but we need to be smart about it. simply throwing money and resources at the problem willy nilly will not pay the dividends we seek. in this moment of peril and possibility, to paraphrase a beloved president lincoln, the dog mas of the quiet past are inadequate to the stormry president. we must think anew and act anew. which is why i, along with my colleagues, have introduced the national infrastructure development bank act. the bill establishes a development bank for america. a new inindependent entity that can provide financing for those of regional or national significance with clear nick,

environmental and social benefits, such as high speed rail, clean water, waste water systems, a smart electric grid, broadband deployment to rural and disadvantaged communities. the development bank would issue 30-plus year public benefit bonds, and provide direct sub siddies to infrastructure projects, from amounts made available in the issue of the bonds. funding from the bank would supplement, summed, i add that, supplant current. it would add $25 billion for congressional appropriations, five billion a year over five years. and the rest, sunlight to the call of the treasury secretary, as well as a conservative leverage ratio of 2.5-1. that's based on the european development bank. the bank would have an ability to issue up to will over $600

billion in public benefit bonds, providing for an unprecedented infrastructure development across this country. after 19 years in the hourps, 15 of which have been focused on promoting this concept, we don't move very quickly. i've developed a keen and first hand sense of why this bank is desperately needed. the way the things are set up now, a big multistate project, and you know this, passes and it comes before the congress. it usually has to contend with multiple subcommittees, overlapping jurisdictions, all of which can work to slow highly

useful new plans, or critical improvements. quite frankly, infrastructure projects that do make the congressional cut are all too often chosen on the basis of port, padding the home district, as it were, rather than utility. ultimately, this bill aims to depoliticize, while creating new opportunities to directly support and accelerate the kind of projects that will make a significant and long-term impact. in other words, the creation of a national development bank would make it much easier for states to get the important transportation, environmental energy and telecommunications project they need to get off the ground, without getting them tied up forever. or drastically alt er thed by the congress. how would it work? i know some of you have had experience with the idea at the state level. and a national bank would

function similarly. the bank would include a five member board of directors, chosen by the president, with the advised consent of the senate, with authority to consider projects based on objective criteria, and to provide financial assistance to qualified infrastructure products. after they set out the criteria, a committee would prioritize them for the board. the executive committee members headed by an executive director would also serve as chief financial officer, chief operations officers, general down sill. that are needed for the day-to-day operations of a bank. at the same time, a risk management committee headed by a chief risk operator would ensure a diverse, portfolio by reading project type. and an audit committee would work with independent auditors to ensure the bank is

functioning properly as a bank should. the plap is modeled after the european investment bank. it's the european union's long-term lending bank which for 50 yearses has raised private sector capitol from around the globe to leverage investment in telecommubecations. it is working for them, including a trans european network strategy that is integrating the continent with high speed rail and other modes of transportation. it could work wonders for us. we have support from many groups in the business and labor communities, including the american society of civil engineers, the national construction alliance, the building and trades, af lrve c nch o. the u.s. chamber of commerce, the association of general

contractors, transportation for them. when you can get the u.s. chamber and the a.f.l. and c.i.o. on the same track here, i think we've got something that we might be able to see come through. the bank concept apse enjoying the support of president obama and many in the congress. in fact, it has already been budgetted. it provides five billion dollars annually, a total of $25 billion as in our bill. the house budget provides two billion dollars in fiscal year 2009, five billion dollars in fiscal year 2010 towards a national bank. and the appropriationses bill that's now moving through the house makes room to fund the bank should it be authorized. so, after a long and hard fight, i'm really pleased to tell you that we are on the cups of making this happen.

we're going do it, we need to do it right. frankly, i've just seen a draft of an outline that looks to me like a peace meal version of the banks. and in that plan, the bank would be set up as a piece within the department of transportation. it would only focus on projects in my view. this is foor too narrow a vision. we not only lose all the enormous benefits a bank could bring to an environmental energy and telecommunications, projects under the proposal, we lose the ability to attract investment, and to leverage private dollars. as a former treasury secretary, mary peters as observed, there are up jards of $4 billion available in the private sector for infrastructure

infrastructure vehement. since the treasury, this is important to keep in mind, the treasury department is the sole entity that borrows on behalf of the frl government and can do so more, the bank should be under the treasury's authority, otherwise it just becomes a part of the department of transportation. and their existing finance program. we need to be thinking bigger. and if ever there was a time to start thinking big, it would be now. .

been performance and opportunity are all built on the platform of investments -- innovative public investment. every great american president has come up with a great investment project. from the rear can now -- eerie canal to others. the chapters of our american success story have always been

written in stone and mortar and iron and steel, granite, and fiber-optic cable. we must come together to write the next chapter in infrastructure investment for our nation. i look forward to working with you. we can do this. we need to have the courage and the will and the foresight and the vision to move forward on this plan. you can play an incredible significant role in raising the profile of this and of letting your colleagues and members of congress to take your clout and use it to put pressure on the institution i am serving to make this happen. thank you for letting me be here today. thank you. [applause] >> thank you so much for being with us.

our chairman is no longer on the phone any longer. he passed along a question for you. the administration has proposed certain things. the question in view of justice -- how can we work together and be helpful? that is the question. >> i think there is an appetite to move forward on this. speaker pelosi is very interested in this and has spoken out about it. what we cannot do is limit our vision to just making this part of the department of agriculture. i share the subcommittee on

agriculture. i'm always thinking about it. it cannot be just a part of the d%paná >> we need your help. we need your voices. and happy to sit down at any time, anyplace, anywhere to discuss this with people. and we need your voice and your aggressive advocacy of this concept to impress that this is a tough time. we're dealing with energy. energy legislation. dealing with health care and economy. it is difficult. i'm of the view that this has to be part of the national discourse on what happens with our economy. you're all facing a very, very

difficult time. that doesn't lessen what you need to try to get done in norfolk or other entities to move forward. that will require congress to move on it that you can help us get there. you can help yourself and do the kinds of things you want to do to create a solid economic base in your own state. >> i think your proposal is a very good one. if you could explain, how would it work in an instance of -- there is a high-speed rail effort by the administration. 11 corridors have been selected. we in the west are trying to

have a corridor from el paso to denver. there are federal and state matches. other your -- under your bank, could states apply? how would it work? >> let me go back to the concept. this is not to supplant the already existing mechanism that is there to finance the project. this would be another avenue of revenue. with such a project, the state could request, apply for funding to the bank in order to be able to get this financed. what we are looking at is locally you have dealt with municipal bonds which are usually smaller projects.

projects of national significance and regional in scope that would look at how you can take traffic off the road and lessen congestion. you can look at the environmental benefits the deal with job creation. that is the purpose that is set up for states to be able to get funding from this bank. >> he said the house is going to move forward on a highway bill. i read in the paper today -- i may not have all of my facts, but this highway bill may be delayed. >> you are talking about the reauthorization of the transportation. the senate last week -- the highway trust fund is about $8 billion short.

they are trying to address that shortfall. to do that before the august recess is important. the senate already acted and they extended it for 18 months. i suspect that is what will happen in the house as well. it is being worked out. that is what is going to happen. we have seen an extension by several months. it makes it very difficult to try to get anything done with that short time frame. they are trying to sort out how to fund the entire record

relation. one person is masterful in what he is doing. there is a determination to deal with the $8 billion shortfall in the highway trust fund. >> we have a lot of projects in the states ready to go. i hope you succeed. >> thank you very much. [applause] >> an important topic. we are running over. we need to get to a couple of other items. we will move right along. i want to thank our special guests for being here for this important discussion on infrastructure. thank you all. [applause]

i would like to ask my colleagues to be as expeditious as possible in their presentations while still doing justice to the topic over the next few minutes. first of all, and want to call on gov. patrick who is going to be our host a year from now. , appear and tell us what we are going to enjoy next year. >> thank you. i am proudly wearing the colors of red sox nation. you are about to get your own callers to where rigid colors to wear. we are honored to host the meeting -- you're all colors to wear. we're honored to host the meeting next year in boston.

we are planning meetings that will be productive and fun. look for it to the fungicide to showing you wear american democracy was invented, our historical attractions. we want to expose you to our cultural and history community. we want to show you the beautiful landscape, the mountains, valleys, and coastline. plan to come early. plan to stay late. we will have some version of a concert services that will help you plan your family vacation around that time as low. we are looking forward to having you. i want to thank everyone for their leadership and the honor of giving us this opportunity. thank you. [applause] >> there is a massachusetts display here at the convention center.

stop buying get more information. now i want to talk about a program called child help. >> i can speak from here. this is an opportunity for me to talk to you about something that is near and dear to my heart. our headquarters are in phoenix, arizona. it is an organization that i got involved with. two dynamic women who work entertainers in the young girl like decided they would put aside their career and to reach out and help those abused children that we all have in our state. five children die every day in the united states and due to

java beans. these children are in your states as well as mine. i will like some people to stand up. please the knowledge of them. [applause] they have been fighting child abuse for 50 years. we just celebrated our 50th anniversary. some marvelous things. today you may have noticed that there is a bus outside -- it is a bus tour to raise attention about child abuse. it includes the national hot line. on the table, you have a piece of paper that explains this.

we want you to know that they will be in your community. i hope you have the of virginity to welcome them and to participate with them to raise that awareness. they are out there and they are focused on encouraging and providing support and resources for families and care givers around the country. today i have a child help resolution. what we are hoping is that we can get all of the governors throughout the state to sign on to say that the day as governors of their state want to prevent child abuse and they want to help those families that are

victims of child abuse. it is a worthy cause. i will like you to come by here before we leave to sign up with it. i have cut my presentation down. i asked you to take the sheet of paper, and make this issue something that we can collectively do in each of our states and make a difference. children are hurting out there. thank you. [applause] >> we thank the people from chao help for being here as well. this awards program gives governors the opportunity to recognize some of the most bible citizens and servants.

they have made inviable contributions to public service and state governments. i am honored to commend these extraordinary individuals for their commitment to improve their communities, their state, and our great country. all the nominees for outstanding this year. the selection committee had to fulfil its responsibility to make these choices. i want to thank one person from pennsylvania research on the selection committee. i think barbour is here. -- barbara is here. thank you very much. awards are in several categories. as i announced each winner, i would like you to come forward along with your governor if he or she is here.

i want the governor's to come up here and make remarks about each winner. our first when there is the former secretary of this up the cargo -- of south dakota fishing in gaming deparle in. [applause] >> thank you, mr. chairman. ladies and gentlemen, john cooper served as the secretary of game fishing parts in south dakota for two different governors. before that, he served as a u.s. fish and wildlife officer for a number of years. before that, he served two terms of duty in vietnam.

he is a gentleman that has been responsible for improving the quality of life for people who live in south dakota but also for hunters and fishermen who enjoy the hunting season. he has been actively involved with clean water issues and promoting an negotiating changes in the missouri river water resource plan. he has been an active member with the state and other states. it is my pleasure to introduce you a gentleman who has done a marvelous work over a long career. mr. john cooper. [applause]

>> thank you. @@@@@@@@@ @ @ @ @ @ @ @ @ @ @ @r >> well, we are engaged in an incredible debate in the nation about the condition of our health care condition. kerry is a dentist by training that served in the clinician service in the late 1990ed. in virginia he became the sheriff of the virginia dental association. he noticed for 47 million don't have access to health insurance, but many more than that don't have access to the dental care. he started something called the missions of mercy which organized private sector

dentists, denial clinicians and students to provide free dental care. done has spread through other states that have tried to emulate the work. he dealt with people hurt by hurricane katrina. the centerpiece takes place next weekend in virginia county. i have served their and i will be working with volunteers with my wife. people lined up and drive from all over the eastern part of the united states. it is all kinds of medical care not just a dental. you'll save vehicles from florida and oklahoma coming to

get free dental and medical care. it is a very humbling and setting thing tuesday. the work that he has done to bring people together is very inspiring. his model is, it is not about the care, it is about the caring. i look forward to being with him next week to continue his wonderful work. [applause] >> congratulations dr. dickinson. now in the arts category. i like to invite governor a mallet to come forward. -- o'malley to come forward.

>> thank you for your hospitality and pulling us together. she is one of the recipients of the distinguished service award. it has been written that americans are living in the present that is shaped by visions of the future. her dream of the future in maryland was a place where every child have the ability to receive quality arts education that would unleash their own creative potential and ability to think in creative waves. -- creative ways. maryland has the best public school system in the u.s. that is in part due to her leadership. she understands that if our children are to attain higher levels in reading and math that the arts and music are critical to that. she worked with the maryland state department of education.

it resulted in the adoption of a voluntary state curriculum in fine arts. we are setting up objective criteria that says this is true arts education. putting kids on a bus to visit a museum once a month after school is not arts education. she has been a tremendous leader. she is a true champion for arts education. because of her efforts, we are seeing tremendous progress in education in our state. her leadership has improved the quality of life for our kids and their outcome. we are proud of you. he make maryland a better place. thank you for your leadership. [applause]

>> our final award winner is in the artistic production category. it represents the state of florida. i like to tell you about james. he is a resident from florida. he was born there. he began selling his paintings out of the trunk of this car for $20 years ago. he has planted more than 10,000 florida landscapes. he has been commissioned by two governors of the state. he has expertise and has spent time in many projects. he volunteers for our education programs as well as other programs that benefit children as well as crime prevention programs. he participates in charitable events. extensive artistic contribution captures the beauty of this state.

he is generous with his time, talent which brings a greater understanding on the importance of art to the public. congratulations to james. [applause] of want to take a moment to recognize the corporate fellows that are planned such an important role in the activities of nga. this program was founded in 1988. they can share the unique experience is an expertise through our research and development arm. corporate fellows demonstrate a

commitment to improving cooperation in understanding state government and industry and help us develop a bipartisan resolution is to the problems of our nation. many of the top companies in our nation have corporate fellows. blue cross blue shield, ibm, johnson & johnson, and others are a part of this. they have been a member for 20 years. on behalf of all the governors of america, i would like to thank all of these companies and our corporate fellows for their contributions to our organization. [applause] now they bittersweet moment when we say farewell to a colleague who is moving on after his service to this association but to his state. a lot to as one governor to

return to the podium. he is serving as governor of the commonwealth of of virginia. he is turning over the keys to his successor next year. really appreciate him for what he has done for his state and his hard work here. he has served on important committees and task forces of this association. he has been involved in public office for about 15 years serving on the richmond city council. he has served as governor of virginia during the last term. he has done so much in different areas such as transportation infrastructure, land use planning, education. they all have been priorities for him while he was governor of the state.

sometimes things happen. the ticket -- difficult challenges that we need to confront. we talked about mississippi and what happened in the gulf coast and out others have responded to this diversity -- adversity. there was a real tragedy in virginia check -- tech with a mass shooting. many students and families were affected. in the wake of a tragic, he came up with an executive order to prevent those with mental illnesses from purchasing firearms. that was a tough time. he rose to the occasion however. we are proud of what he has done for the people of this

commonwealth. we will miss you. we appreciate all that you have done. we hope that you will keep in touch and value the friendships that you have made here at this association. best wishes. [applause] >> thank you very much. no, no. thank you. you are very kind. [applause] please have a seat. in virginia, we are the only state where you can serve one term. the title is your excellency not your honorable. there is a consolation there. it has been a great honor of my life to serve here. i want to say, of being governor

right now is the toughest jobs in the united states right now. everyone of you and us is making and will make very painful and difficult decisions. not many people understand how difficult they are. i understand. i applaud you for your cap -- courage. a look forward to working with you together when we do public- service together. thank you very much. [applause] >> t he framed picture that i just gave him where he said he did not recognize himself, it is a pitcher with teddy roosevelt and the governors' association several years ago. i am sorry we went late.

thank you all for your patience. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2009]

>> former treasury secretary henry paulson was before them earlier this week. you can see that later on c-span. >> and remarks from president obama at naacp at an an event

marking the anniversary of the group. you can see that speech today on c-span. >> you're watching c-span, created as a public service by the nation's cable company. at 10 newsmakers and at 3:30 state emergency preparations for the national governors' association national conference. >> at 7:30 national journal and 8:00 buzz aldrin on the 20th anniversary of the