Tuesday, June 24, 2014
From San Antonio to Dallas, these roads are failing. And YOU are picking up the tab.
In less than two years in operation, the southern 41-mile stretch which opened in October 2012 with much fanfare and boasting by Governor Rick Perry now faces bankruptcy.
On Interstate 635 in Dallas, Cintra uses congestion tolling (where the toll rate varies based on the level of congestion) and charges Texans 95 cents a mile to access its toll lanes during peak hours. Once the full project is open, it’ll cost more than $24 a day to get to/from work.
Indeed, on I-820, the taxpayers put more cash into the deal than Cintra. So there is simply no way any person confronted with the facts can call P3s free market in ANY way. They’re a form of corporate welfare that socializes the losses while the special interests walk away with all the profits.