Providing low income service. Sort of almost to make it politically good, not just politically acceptable, politically good for a company to price discriminate. I wasnt sure where you were headed with that. I cant think of what it is right now. But if they were to take samples of fingerprints that are on some of those voluntary agreements, you might find fingerprints somewhere. Thats good. I think thats great. The programs are there. Just one thing, back to yesterdays conversation. He said the one thing about the act is it allowed competition to enter. What the competition did, is before the telecomact, the prices that we had didnt make a whole lot of sense. All kinds of different cross subsidies. 25 cents a minute long distance. And what the competition did is forced all those prices to get rationalized. The High Cost Fund kind of impedes that whole process. One thing, theres really i think the benefits in terms of incentives for investment and those other things in the high cost area
These are completely counterfactual. Speed mac. The fed used to have reserves and one of the changes is that now they can pay it and they look at the new tool of the interest rate. And number of people to put this in context a number of people have been arguing one of the problems in terms of Funding Investment in the private sector is that the fed is taking the money out of the system by paying interest on reserves. I think there is very little evidence that that is the case created the design of the policy was primarily to make sure that there was control over the rate to keep the fund rate is much narrower than they had been. Remember that as a time when it was all over the place. It seemed to have worked quite effectively, and i think the evidence to that policy is pretty positive. The evidence against it in terms of its longterm effect is minimal. That doesnt mean that it couldnt be used to harm the private sector by taking the money out of the economy because they have discretion
Expenditures we have to pay off we have money sitting in the back to help to pay for that anything we cant pay for well issue debt to help with the costs. Thank you. Now if there isnt any more questions i im going to turn this over to my colleague thanks cynthia im mruld to present the draft 20142015 budget it the goals those are the 7 sub goals they stand the work program the idea of the support for the many recreational bodies you sit on and the more consistent project reporting and the service was the collaboration with other agencies the effort were making to implement those goals the leadership at the resemble state and local levels this being our 21st anniversary we have the Vision Zero Committee were beginning this week and the Neighborhood Transportation Improvement Program and mayors 20142015 task force. Ill begin with the work program but presenting those in the various division we work across the divisions and see our work is multiple consultants so the policy and Programmin
Well see the extension built as well and the gary corridor in the capital definition is being supported were looking at general feasibility from an engineering standpoint as well as a financial standpoint. Treasure island represents an Exciting Initiative for our agency this refers to the System Design and development and eventually the chart idling transportation project. The third street phase 3 represents one of the ways were collaborating with the sfmta on Capital Projects and doing that work will be important and exciting this year. The Planning Division the Planning Division is charged with implemented this year what we adapted last year including the San Francisco transportation and the transbay area and the emerging studies are the capacity study well be bringing and the freeway Management Study really how San Francisco, california connection erection with the carpool lanes and in addition to strengthening the major bart and muni and ferry and agent transit. The capital promoti
Very little. Its limited to pretty much one party okay. Thank you. Colleagues, any other comments on the presentation soak seeing none, Public Comment is closed. We should take Public Comment on item 3 seeing none, Public Comment is closed madam clerk, this is an action item on item 3. Supervisor chiu. Supervisor cowen. Supervisor farrell. Absent commissioner walker. Supervisor wiener. This item passes please call item 4. The preliminary 20142015 an amendment a thought prop k this is an informational item. Good morning, commissioners. What we have before you is a preliminary fiscal year 20142015 you recall this is our first look at the Transportation Authority 20142015 budget well have another opportunity to review the budget at the at the maze Financial Committee were looking for information we have a presentation ill walk through the financial numbers newer the authority and have my colleague talk about the other program just a little bit of why we present this budget to this committ