08.21.08
Perry, Craddick, Dewhurst Send A Letter
Not sure what the point of Larry, Moe and Curly’s letter is. Other then for them to attempt to show they’re doing something on transportation or setup for Delisi with a softball, Big 3: Boost highway funding now:
Highlights of the new plan:
Stop funding the Texas Department of Public Safety with gas tax funds, and divert those millions to road construction. DPS could instead be funded with general revenue tax funds.
Create a special Transportation Finance Corporation to allow Texas-based investment funds to directly invest in state transportation projects.
Authorize perhaps as much as $5 billion in bonds for additional highway construction projects. Voters approved a constitutional change in November 2007 to allow these bonds, but legislation is still needed to authorize them.
The first one, using gas tax money to build roads sounds reasonable, and long overdue.
The second one, using state teacher and employee retirement funds to “invest” in transportation is a loser.
The third one, more debt, is the only option we have left since they’ve been neglecting transportation for years, they won’t raise the gas tax and there’s been a backlash against toll roads. This means some tax will be raised, or shifted, in the future to pay of the debt.
There’s nothing new here. No mention of raising the gas tax, so all we’re left to assume is that leveraging employee pensions and toll roads will be the GOP’s plan, if left in control of all three branches of government, for the 81st session. Accountability comes in November.
HeavyDuty said,
August 21, 2008 at 11:19 pm
The gas/diesel taxes currently are directed into the general revenue fund. Redirecting said revenue, to the original purpose, would leave the general revenue fund short.
Oops, we’re back to volunteering teacher and government employee pensions, also underfunded obligations, to fund the construction of more tollways (that will hopefully make enough money to pay back the retirement funds in a timely manner).
More debt? Yeah, the taxpayers shouldn’t object to paying the price of infrastructure planning, construction, operation and maintenance plus a reasonable rate of return to the lenders!!! Ask your state representatives about it.
The governor and the legislature have been telling everybody that’ll listen that, “you can have everything and a tax break.” It just doesn’t work that way, but you can fudge it for a while. The economies not so hot and state government’s spending and taxes have been cut to the bone.
The bill for the smoke and mirrors of, “everything and a tax break,” is coming due and the legislature has dance and denial on the agenda for 2009… This is going to be sad. We’ll (taxpayers) get the bill and the hangover without ever getting a drink!
Eye on Williamson » Texas GOP Wants To Use Public Pension Funds To Build Corporate Toll Roads said,
August 22, 2008 at 12:46 pm
[…] AAS today has fleshed out their initial post from yesterday about the letter that Perry, Dewhurst, and Craddick sent to TxDOT head Deirdre Delisi, Sweeping […]