Pennsylvania Gov. Rendell: Give us a Federal Capital Budget, or We're Stuck with Bankers' PPPs

24 de may de 2007

<body><div id="article"><tr><td height="28" valign="middle" width="184"></td><td valign="middle" width="185"></td></tr><h1>Pennsylvania Gov. Rendell: Give us a Federal Capital Budget, or We're Stuck with Bankers' PPPs</h1><p>Washington, D.C., May 24 (LPAC)--"America will never cure its infrastructure deficit until we adopt a Federal Capital Budget." So insisted Pennsylvania Governor Ed Rendell today at a House Highways and Transit subcommittee hearing on the subject of public private partnerships (PPPs, or P3s) financing for infrastructure projects. Subcommittee chairman Rep. Peter DeFazio, acknowledged that capital budgeting is the solution, yet succumbed to his own pessimism saying "I hope we get there someday."</p><p>DeFazio has criticized the use of P3s for allowing private speculators to loot public infrastructure. But when DeFazio challenged Gov. Rendell on his plans for a P3 deal for the Pennsylvania turnpike, the Governor shot back, "Are you going to give me a Federal Capital Budget?" DeFazio dodged the question and pressed Rendell for assurances that if Pennsylvania enters into a P3 deal, it would protect the public interest. Undeterred, Rendell responded, "If you're not going to give us a Federal Capital Budget, then we have no alternative." Rendell reviewed the extent of Pennsylvania's transport infrastructure deficit which, uncorrected, is costing lives and dollars. Rendell said that to meet Pennsylvania's funding gap to fix roads, bridges and public transit, he'd have to raise gas taxes another 12 cents. Rendell acknowledged problems with P3s, but concluded: "Let me be clear. The Federal government's refusal to establish a capital budget [for infrastructure]" leaves us in the states with no alternative to fund these critical projects. "If I could have avoided it, I would have. We have a serious problem and we have to do something" to fix it.</p><p>Between a LYM team and an EIR reporter, Rendell, two congressmen, and four other witnesses received LaRouche's capital budget material, EIRs with the Bering Strait project coverage and EIR's previous exposes on Rohatyn's PPPs.</p></div></body>