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Follow TURFBudget crisis: Texas spends more on road debt than on road building
This is Rick Perry's legacy, a toll road t-i-c-k-i-n-g DEBT BOMB for generations of Texans to pay back with interest. Before Perry, we were pay as you go with CASH, with NO debt for roads. On his watch, he's demanded they STARVE the gas tax and push toll roads that borrow and spend money we don't have. The State's debt for roads tops $30 BILLION! On top of that, he's selling our roads to foreign companies in sweetheart deals that will cost 75 cents a mile to drive. It's crony capitalism at its worst!
A note for the record from the House's roads scholars ...
By Robert T. Garrett - Reporter
Dallas Morning News
Sun., Apr. 3, 2011
Texas would spend more on road debt than on road building -- for the first time in history -- under the budget that neared passage in the House late Sunday.
Rep. Joe Pickett, D-El Paso, who was Transportation Committee chairman last session, said it was important that Texans realize they're sort of in hock for asphalt and concrete.
Debt service payments for the next two years would cost $1.65 billion, he said, while the budget would spend only $1.15 billion for new road construction.
"This is new and this is big for Texas," Pickett said.
Rep. Drew Darby, R-San Angelo, the House's chief transportation budget writer, agreed.
"This Legislature either this session or next session is going to have to deal with how we fund our roads and infrastructure," Darby said. "We have a severe shortage of capital we're devoting in our budget towards our congestion needs ... and our transportation needs. ... This is an issue that's not going to go away."