Peterson on Turnpike Bid
Following Governor Rendell’s announcement of the winning bid to manage the Pennsylvania Turnpike, Congressman John E. Peterson, R-Pleasantville, issued the following statement:
“Today’s announcement by Governor Rendell is nothing short of a win-win for all of Pennsylvania. Under the proposed turnpike lease agreement, the Commonwealth stands to receive an upfront payment of $12.8 billion – more than double that of the Pennsylvania Turnpike Commission’s $5.3 billion bid – while maintaining control over future toll rates, road maintenance and safety. Pennsylvanians can rest easy, that under this agreement future toll rates on the Pennsylvania Turnpike will be controlled under strict guidelines and will not increase exponentially as some may lead you to believe.
“Additionally, under this proposal, an estimated $1.1 billion annually in debt free funding – $150 million more than Act 44 – will be expended to address the aging infrastructure of the Commonwealth and to stabilize mass transit needs for the foreseeable future. Folks, this is real money – not interest laden bonds – and will not jeopardize the long-term viability of the motor license fund.
“I urge the legislative leadership in Harrisburg to quickly review this plan and to act in the best interest of the Commonwealth by supporting the Governor’s proposal. Furthermore, it is time to repeal Act 44 and remove the Closed for Business signs on the Commonwealth. While Pennsylvania was once known as the Keystone State because of its resources and strategic location, Act 44 has all but eliminated future investment. I look forward to the day when Act 44 is repealed, so Pennsylvania can Re-Open for Business and private investment will again flourish.
“Today’s announcement by Governor Rendell is nothing short of a win-win for all of Pennsylvania. Under the proposed turnpike lease agreement, the Commonwealth stands to receive an upfront payment of $12.8 billion – more than double that of the Pennsylvania Turnpike Commission’s $5.3 billion bid – while maintaining control over future toll rates, road maintenance and safety. Pennsylvanians can rest easy, that under this agreement future toll rates on the Pennsylvania Turnpike will be controlled under strict guidelines and will not increase exponentially as some may lead you to believe.
“Additionally, under this proposal, an estimated $1.1 billion annually in debt free funding – $150 million more than Act 44 – will be expended to address the aging infrastructure of the Commonwealth and to stabilize mass transit needs for the foreseeable future. Folks, this is real money – not interest laden bonds – and will not jeopardize the long-term viability of the motor license fund.
“I urge the legislative leadership in Harrisburg to quickly review this plan and to act in the best interest of the Commonwealth by supporting the Governor’s proposal. Furthermore, it is time to repeal Act 44 and remove the Closed for Business signs on the Commonwealth. While Pennsylvania was once known as the Keystone State because of its resources and strategic location, Act 44 has all but eliminated future investment. I look forward to the day when Act 44 is repealed, so Pennsylvania can Re-Open for Business and private investment will again flourish.
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