Across the nation, states are leasing toll roads to private investors, including many foreign firms.
"...money from federal and state gasoline taxes that pay for roads are falling further behind the need, with no political appetite in an era of record gas prices to increase the rates. According to U.S. projections, the part of the federal Highway Trust Fund devoted to roads is to run out of money for the first time in its history in 2009."
Due to limited federal and state funding, states like New Jersey and New York are considering leasing their toll roads. Illinois and Virginia have already struck deals with private firms to operate certain toll roads. At the end of this month, the Indiana Toll Road will be leased to an Australian and Spanish team at a price of $3.8 billion to the state of Indiana. The money will pay for transportation projects across the state.
Governor Mitchell Daniels, architect of the deal, says: "We can stop dreaming and start digging all these big projects." However, some Indiana residents worry about foreign control, loss of jobs for local toll booth operators, and increasing tolls.
FULL STORY: Strapped States Try New Route, Lease Toll Roads to Foreign Firms
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