"TxDOT, NTTA, the cities and counties that received upfront cash payments, and the governor all got drunk on toll road revenue forecasts."
Letter to the Editor
The Dallas Morning News
Re: "North Texas Tollway Authority OKs rate hike," Friday news story.
First, we must blame the drivers for ever allowing this to happen. Any successful toll road only begs for more toll roads.
Second, this should be a wakeup call for all Texans. Operators may buy in with low bids and overly optimistic forecasts knowing that once the roads are built, and the state signs noncompete agreements, they can recover additional revenue later.
Third, I can't wait to hear the local city leaders continue to whine about budget shortfalls. I just read a report that indicated that the North Texas "Taxing" Authority had revenue of around $245 million in 2008, but in 2009 the expected costs to just service the debt is expected to rise to $295 million. That's money going directly into the pockets of a few investors and not being spent locally.
Now is the perfect opportunity for drivers to take a stance and to avoid toll roads and send the operators to oblivion.
Its now quite clear that TxDOT, NTTA, the cities and counties that received upfront cash payments, and the governor all got drunk on toll road revenue forecasts.
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