Political Quotes

“Mr. Speaker, H.R. 2017 provides for an increased share in certain Federal-aid highway projects in the District of Columbia for the fiscal years 1995 and 1996. This bill will also require the District to establish a dedicated highway fund for the first time to meet future local cost-share requirements, and repayments of the amounts weighed, and will ensure that improvements are made in the District's highway program. The District has been unable to provide local matching funds this year, as required under the Federal highway program; generally, 20 percent of the cost of the highway project. In the past, the District has financed its entire capital improvement program through the sale of general obligation bonds. Because the District's bond rating now stands at junk bond status, the District has not sold any bonds these years, so it does not have the approximately $20 million that is necessary to leverage over $80 million in Federal highway funds. Due to the lack of the local match no new construction projects are underway in the District today, and no new bids have been solicited in over 20 months. Mr. Speaker, I am very pleased to see that the Washington Post and others have editorialized very strongly in support of this legislation, arguing that highways are good for the District, that they create jobs, and they stimulate economic activity.”