The simultaneous expiration of the acts authorizing federal support of aviation, Amtrak, highways, and transit in 2003 gives Congress the opportunity to ask fundamental questions. Are there better ways to improve transportation than simply spending more of the taxpayers’ money? Representative Kennedy will discuss his reform proposal, the Freeing Alternatives for Speedy Transportation (FAST) Act. Peter VanDoren will discuss other market‐​based reforms for transportation on roads, rails, and air.