Posted on 04/14/2005 8:48:40 PM PDT by NormsRevenge
State Senate leader Don Perata, D-Oakland, proposed Wednesday a $7.7 billion bond to complete the new Bay Bridge and reinvest in highways, port security and ailing levees up and down the state.
Though no date is set in the bill for when voters would consider the general obligation bond, Perata aides said the measure is unlikely to appear on ballots before June 2006.
In the meantime, a companion bill, introduced by Sen. Tom Torlakson, D-Antioch, would increase Bay Area bridge tolls by $1 to pay for the planned tower on the eastern span of the Bay Bridge.
If either bill fails, California will be short of cash to complete the $6.2 billion replacement bridge. Perata's plan needs two-thirds approval in the Legislature and from state voters.
Gov. Arnold Schwarzenegger favors changing designs and building a concrete viaduct. He and his top transportation officials maintain it would be cheaper, quicker and easier to build, but few experts who have studied the problem share that assessment. Schwarzenegger said again in radio interviews last week that he favors no bridge bail-out proposal that deepens California's debt.
That sets up a showdown between the governor and the Senate president.
Bay Area lawmakers, critical of Schwarzenegger's plan, say it will almost certainly lead to a $2 toll increase.
Perata is sweetening the deal by proposing to spread billions of dollars for infrastructure improvements throughout California. Specifically, his bill would:
-Repay $2.3 billion in gas tax money that was taken from transportation projects to cover the state budget shortfall. The money would be shifted back to transportation improvements by June 2009.
-Steer $1 billion to the Department of Water Resources to "evaluate, improve and strengthen" 1,600 miles of levee roads.
-Generate $2.5 billion for California's ports. Of this, $2 billion would be spent to improve the movement of freight from California's ports, $400 million to reduce air pol-lution around the wharves and $100 million for security improvements.
Perata's bill also would direct $425 million in transportation funds to communities that meet their affordable housing targets, plus $100 million for environmental cleanup around transportation improvements.
For months the California Alliance for Jobs has been calling for reinvesting in transportation and reversing the trend to take gas tax money to balance the state budget. Voters passed Proposition 42 to put an end to the practice, but it contained a loophole that allowed the diversion during financial crises.
"We've got to start spending transportation money on transportation, and we have to close the Proposition 42 loopholes. Those two things have to happen," said California Alliance spokesman Dennis Oliver.
He said he didn't favor any of a number of legislative proposals circulating, as long as California reinvests in its highways, bridges and heavy rail systems.
"There are some investments we make when going in debt makes sense, and investing in infrastructure is one of those. This is like putting a new roof on your house or buying a new car. It's not frivolous," Oliver said.
Hey, I have an idea. Why not make this pig-in-a-poke a toll bridge and let those who use the bridge actually pay for it?
Then again, Aronld did promise us he would "tear up the credit cards" back in 2004 so this bond will be DOA, right?
Wow. borrowing money from the state's taxpayers to repay their taxes. Talk about criminal misconduct.
Yep, AS tore them up and applied for new ones!
His "spending reform" bill includes $10 billion more in borrowing (in the fine print).
Borrowing is now Sacramento's solution to all problems.
Wait a minute, are you saying the new budget has 10.1 Billion in new borrowing?
Wait a minute, are you saying the new budget has 10.1 Billion in new borrowing?
I'm saying that the initiative Arnold endorsed that they refer to as "spending reform", or "live within our means," proposes new debt (15 years) to pay for the dollars he has, and is continuing to, borrow from the transportation and education funding buckets. When you add it all up, it comes to about $10 Billion.
The kind (enabling) leftist media still calls this a spending cap. Sweet, huh?
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