Tag Archives: Transportation Reinvestment Zones

Abbott promises to fix Texas roads without tolls

That about sums up both the political and literal reality for Texans in most metropolitan areas of the state. Neither Congress nor the Texas legislature have addressed the structural road funding shortfall for the last decade, both turning to toll roads and massive debt financing to kick the can down the road. But Texas is now facing a fiscal cliff – it leads the country in road debt and it’s maxed out its proverbial credit card. The Texas Department of Transportation (TXDOT) says it needs $4 billion more per year just to keep pace with congestion. Even worse, its $10 billion annual budget will experience an additional gaping $2-3 billion hole in 2015 as the borrowing that’s been propping up its budget disappears.

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Posted in News and Analysis, Taxation, Transportation Tagged , , , , , , |

Gateway to globalization: Texas toll roads, reinvestment zones and trade corridors

Despite high hopes that lawmakers would address the chronic road funding shortfall at the outset of the 83rd session of the Texas legislature, Texas taxpayers only saw $534 million of $1.2 billion in diversions of gas tax revenues returned to roads (for the next two years) with a reliance on more toll roads to fill the remaining $4 billion annual funding gap. That’s only one-eighth of the money needed.

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Posted in Trade & Economics, Transportation Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

Texas toll agency breaking the law to stay solvent, seeks sweeping new powers

“This is a clean-up bill,” spouted the North Texas Tollway Authority’s (NTTA) bond counsel, Frank Stevenson II, one of the agency’s ‘legacy contractors,’ Locke Lord, LLP, who crafted House Bill 2247 that grants the authority expansive new powers.

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