Norman Mineta: “many of my colleagues have raised two questions about today's legislation. First, will the District pay the money back…”

“many of my colleagues have raised two questions about today's legislation. First, will the District pay the money back and second, will we be here a few years from now facing a similar situation? I want to assure the Members that this bill was crafted specifically to address these two concerns. That's why it contains numerous accountability provisions to ensure that the District will not only promptly repay, in full, its local share, but also will dedicate stable, reliable funding for the future transportation program. Unlike previous, broad-based waivers, such as the one offered to all States in 1991, this bill requires the District to repay in cash, beginning next year. The bill also requires the District to establish a dedicated highway account, funded by motor fuel taxes and vehicles fees, to ensure that funds are available for the cash loan repayment and for future local shares. No longer will the District to able to rely solely on general obligation bonds to fund its local share. In addition, the District's new financial control board has assured the Committee on Transportation and Infrastructure that the Board will closely monitor District compliance with the terms of today's bill. In closing, let me just remind my colleagues why we have Federal involvement in highway construction. Local road conditions have regional and national effects.…”