Study: Gov. Scott Right About High Speed Rail Costs
By Matt O'Hern // December 3, 2013
Study Rebukes FDOT Surplus Projections
ABOVE VIDEO: Reason Foundation explains why President Obama’s high speed rail projects arent’ economically feasible. Gov. Scott made national headlines when he rejected Obama’s federal dollars to launch a high speed rail project between Orlando and Tampa, which would have eventually required state taxpayer funding for maintenance.
TALLAHASSEE, FLORIDA — Nearly three years after Governor Rick Scott received national criticism for rejecting a rail project proposed by President Obama, an independent study shows that the Governor’s concerns regarding funding were well-founded.
In 2010, Governor Scott said that the overhead costs associated with train and track maintenance couldn’t be supported by state taxpayer dollars. According to the study by the Libertarian Think Tank Reason Foundation, the Florida Department of Transportation can’t pull off a taxpayer-money-safe deal that produces a $38 million surplus by 2026.
“It is likely, as Governor Scott predicted, that … even with financial guarantees from the private-sector builders/operator, moving forward with such a project would likely lead to a financial obligation by the state of Florida in the future,” said Wendell Cox and Adrian Moore, authors of the study.
See the study HERE
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