Economics

The House of Representatives recently passed a bill that would provide emergency funding to local transit systems facing simultaneous increases in ridership and fuel costs. The legislation is now stalled in the Senate and the Bush Administration has expressed concern that "transit operators risk becoming permanently reliant upon this type of assistance." Meanwhile, when it comes to subsidizing Midwestern farmers, ethanol producers, and the operating costs of America's fleet of private motor vehicles... well, here's how Michael Daly of the Daily News summed it up in his column yesterday:

From today's Crain's Insider:

It's the New Math: a dollar-a-trip rise in the cost of fuel for a car trip to Manhattan is cutting traffic almost as much as Mayor Bloomberg's eight-dollar toll plan would have done.

Following the lead of John McCain and Hillary Clinton, the State Senate voted yesterday to suspend New York's gas tax for the summer. The move was largely symbolic, as the governor and Assembly speaker have both indicated they won't support the bill.

Copenhagen-based Flickr photographer Zakkalicious tells us that this cartoon was originally published in the May 1933 issue of Toy World magazine and also appeared in David Herhily's 2004 book, "Bicycle."

In this five-minute speech, delivered at the Stonewall Democratic Club in Manhattan and captured by The Politicker, Council Member Lew Fidler draws on the 2005 mayoral campaign of Freddy Ferrer to rehash the old saw that congestion pricing would create a city of "haves" and "have-nots."

Yesterday around 10 a.m. I got on the number 3 subway line at Bergen Street in Brooklyn, where I easily found a seat. As usual, I noticed that there was space on the baby-blue benches all the way up to 96th Street, where I switched trains to go to Columbia University at 116th Street. Only the last few stops on the 1 train were crowded.

During his State of the State address, Governor Spitzer claimed that his administration is "turning Stewart Airport into an economic engine for the Hudson Valley and an environmental model for the world: the very first carbon-negative airport." In this morning's New York Times, we see the Port Authority, touting SIA as an air congestion reliever for metro NYC, making similar claims about the airport's green credentials.