Skip to comments.For Sandy Fix, MTA Could Borrow Billions (NYC)
Posted on 11/28/2012 6:11:13 PM PST by Olog-hai
The Metropolitan Transportation Authority is preparing borrow up to $4.8 billion over the next three years to finance post-storm rebuilding, with the expectation that most loans will be repaid by insurance and the federal government.
But the MTAs top financial official warned Wednesday that the transit agency might ultimately be on the hook for as much as $950 million of the total cost of reconstructionpotentially adding tens of millions to its annual debt-service load.
(Excerpt) Read more at blogs.wsj.com ...
Is that enough to cover all the rail cars they intentionally parked in a low lying area even though they knew it would flood ?
I think you’re thinking of New Jersey Transit, on the other side of the Hudson. They have their own circus over there, which is perhaps worse, since they are statewide.
How much of this money will end up in the union pension plan?
Gots to do something with those gas tax dollars being wasted on highways.
Just expect there to be a real reasoned presentation made to make more highways in the area toll roads.
Tax dollars from gasoline don’t go as far as they used to when we were only spending them on highways. Can’t figure out why...
The Connecticut Turnpike was de-tolled in 1985 or thereabouts. They keep debating whether or not to re-toll that road. I’d prefer a toll road to be in private hands, and frankly, I don’t like the notion of gas taxes; it was the restart of big government expansion post-WWII.
The MTA owns toll bridges and toll tunnels around Manhattan, too. Sounds almost like a conflict of interest to me.
The reason I like gas taxes, is because you can’t get out of them. “Oh, I only made $30,000 last year. I shouldn’t have to pay.”
Nope, if you drive, you help to support the system. As long as the funds are spent for what they were specifically set up to pay for, I’m all for it.
I do not approve of taking sections of our nation’s highways and turning them over to some European toll road concern.
They make profit off our toll dollars. Why should we agree to have some of our dollars siphoned off by a private concern?
BTW: Do you honestly think gas taxes will be reduced once people start paying tolls? No. So what you will wind up with is gas taxes and tolls.
There’s just no end to the extent of government hunger for your money.
Union jobs, pensions and healthcare. 100 percent sure.