Feb. 22, 2019, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement urging the Department of Transportation to stop funding a higher-speed rail project in Florida from Orlando to Miami:
“The Department of Transportation needs to stop throwing good money after bad on the Green New Deal pipe dream of high-speed rail. It didn’t work in California, it didn’t work anywhere else and it won’t work in Florida either.
“Virgin Trains USA (formerly Brightline) has already received a tax-free $600 million private activity bond from the Department of Transportation for a rail project in Florida that was used to pay off millions of corporate debt at a high interest rate. In addition, it has been approved by the department for another $1.15 billion in bonds that have yet to be issued. It has another application at the department for a $3.7 billion Railroad Rehabilitation & Improvement Financing low-cost loan. It’s IPO was cancelled after receiving poor press and the company lost $87 million in the first nine months of 2018. And now, to add insult to injury it is coming back to the department for another bond for $950 million. These are the largest allocations in either program’s history, and combined would add up to $6.4 billion.”
Attachments:
“Dems go off the rails in Green New Deal, two high-speed rail projects maimed after botched rollout,” By Robert Romano, Feb. 13, 2019 at http://dailytorch.com/2019/02/dems-go-off-the-rails-in-green-new-deal-two-high-speed-rail-projects-maimed-after-botched-rollout/
“Trump admin. should reject $3.7 billion loan to Japanese-owned company for Florida higher-speed rail project operating on Mexican company-owned line,” By Robert Romano, Feb. 8, 2019 at http://dailytorch.com/2019/02/trump-admin-should-reject-3-7-billion-loan-to-japanese-owned-company-for-florida-higher-speed-rail-project-operating-on-mexican-company-owned-line/
Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 1003 or at media@limitgov.org to arrange an interview.
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