Political Quotes

“The Senate will vote today on the Bingaman-Durbin amendment to the Transportation bill. This amendment will help protect taxpayers when local governments sell or lease public roads and bridges. The Federal Government provides States and local governments billions of dollars to build, maintain, and improve transportation projects across the country. Federal funding has helped build and maintain roads when local and State governments couldn't afford construction or upkeep on their own. Federal taxpayers have picked up the tab for millions of transportation projects across the country. The Senate Transportation bill provides States with an average of $40 billion per year to help them upgrade their roads and bridges. These Federal investments have created thousands of jobs and helped our economy. But the temptation to cash in on these projects is great, particularly as States and cities are looking under every rock to find new sources of revenue. Some local governments and States are interested in selling or leasing their highways. Private hedge funds, banks and investment groups offer States and local governments large, lump sum payments in exchange for the complete control of critical transportation assets. Local governments receive massive, upfront payments to help them fund other local priorities. The private financiers get complete control of a highway for decades-- sometimes for as long as 99 years.…”