Pursue federal funding for an inner-city interstate loop. Austin is the largest city in the US that does not have its own interstate loop. The roadways are in place, but we have not pursued funding to upgrade them to their full potential.
There are two possible paths for an interstate: the far-out path following 45, 130, and 620, which are mostly toll roads, or the close-in path following 183, 360, and 71/290. The close-in loop would require little construction: an interchange at 183/360 and another at Mopac/360, about 10 under/overpasses along 360 and 183, and a northward flyover at 183/35. Redesignate it i135 and the city will have a true, inner-city loop.