Risk in Foreign Ownership of Transportation Infrastructure By Paul Weyrich
The Reason Foundation estimates that States of the Union are facing a $9 billion a year shortfall to deal with infrastructure, mainly roads. Governors aren't sure what to do about the problem. The public is intolerant when it comes to raising taxes. From the public's point of view, tolls are taxes, so raising tolls is also politically radioactive. As a consequence more and more Governors are turning to so-called private/public investments. The latest to turn to this "solution" is Pennsylvania's Governor Edward G. (Ed) Rendell. At least he has been popular. But what of his announcement that the Albertis Group of Spain was the winner of major competition to lease portions of the Pennsylvania Turnpike? The multiyear lease could bring in as much as $18 billion, depending on how much of the Turnpike is leased.
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