A Billion Here, a Billion There
TxDOT accidentally counted $1 billion in revenue twice. Oopsie!
Should we trust these bozos to perform an accurate DCF analysis for any toll road project? Nooooo!
Update: Kuff has more.
Should we trust these bozos to perform an accurate DCF analysis for any toll road project? Nooooo!
Update: Kuff has more.
Labels: finance, transportation
posted by Robert Boyd at
3:27 PM
2 Comments:
The simple fact is freeways cost much less to build and maintain than toll ways. This includes the unaccountable Gov. Perry scheme to toll the new express lanes on Austin highways - just to collect more revenue (These double tax tolls are paid for with $910 million tax dollars and tax funded right of way)..
Not only do the tolls cost more, but Billions of dollars will be paid by drivers over the next decades, AND MOST OF THE MONEY COLLECTED GOES TO TOLL ROAD SPECIAL INTERESTS.
For example, a TxDOT preliminary revenue analysis for the new 290E toll road shows the toll authority plans to take in $625 Million in the next 40 years.
And the revenue analysis states that 75% of that ($468 Million) is expected to go to collecting the tolls and other maintenance!
Sen. Kirk Watson is taking on TxDOT's for it's plans to privatize Austin freeway tolls - Watson is opposed to toll revenue going to private companies in spain.
But, Sen. Watson led the charge and voted for the Gov. Perry freeway toll scheme for Austin in October 2007. Apparently, it's OK for those Billions of toll taxes to go to his special interest pals.
It doesn't matter if it's Spain taking our toll money or Sen. Kirk Watson's special interest pals. Our families will still have to pay more if our public expressways are tolled.
The real question is, why is Sen. Watson helping to push a scheme created by Gov. Perry and Rep. Mike Krusee?
http://salcostello.blogspot.com/
Well, in theory I am not against toll roads, given a lot of caveats (not least of which is that there are other transportation options besides toll roads). But I would prefer that financially competent (not to mention honest) people were in charge.
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