Political Quotes

“This is as close to a no-brainer as I think we can identify. But this also particularly benefits my State of Texas, which I am honored to represent. TransCanada's direct investment of about $1.6 million in Texas for the construction and development of the pipeline will lead to gains in business activity in the State of Texas of an estimated $2.3 billion in total expenditures and $2 billion in output. The increased economic activity stimulated by the TransCanadian investment in Texas will generate tax receipts in construction of an estimated $41.1 million to the State and $7.7 million to local taxing entities. Once these facilities are completed, they will have a useful life estimated at not less than 100 years. Using reasonable assumptions regarding valuation and tax rates, these assets are estimated to yield more than $1.1 billion in property taxes to local governments in the State, which are the primary source of funds for public education, among other things. I recognize the distinguished Senator from North Dakota is here on the floor and I wish to yield to him. I appreciate the opportunity to address this issue. I would point out that this project has strong bipartisan support.…”