John Culberson: “In fact, I just spoke to the chairman of the Houston Metropolitan Transit Authority yesterday, and he tells me that…”

“In fact, I just spoke to the chairman of the Houston Metropolitan Transit Authority yesterday, and he tells me that their asset-to-debt ratio--they have got assets. Mr. DeFAZIO. Reclaiming my time, I don't know what and who is running that thing. Mr. CULBERSON: They are going to go bankrupt. Mr. DeFAZIO. Sir, it is my time. They have not gone bankrupt. They are still operating. The Federal Government has not had, that I am aware of, any major TIFIA loans or anything go into default. This is a bizarre amendment in search of a problem that doesn't exist. We have no transit agencies that are making money. I don't anticipate we ever will have a transit agency that makes money. No one in the world operates transit agencies that make money. It is a public service to mitigate congestion and provide for our major urban areas to move people more efficiently with a partnership between the Federal Government and local authorities. I reserve the balance of my time.”