We've just completed a five-year survey of the infrastructure needs for the entire public transit industry across the country. That's come out at $40 billion over a five-year period from 2008 to 2012. That's what's been determined based on that next five-year period. That's the $40 billion that's needed, both for infrastructure replacement and renewal of existing, and for expansion to accommodate new ridership.
On May 12th, 2008. See this statement in context.