Transit officials in Texas are looking to convince Congress to let the state buy back sections of interstate highway for conversion into revenue-generating toll roads.
"The Texas Department of Transportation is pushing Congress to pass a federal law allowing the state to 'buy back' parts of existing interstate highways and turn them into toll roads."
"The 24-page plan, outlined in a "Forward Momentum" report that escaped widespread attention when published in February, drew prompt objections Thursday from state lawmakers and activists fighting the spread of privately run toll roads."
"The agency's attempt to influence Congress comes on the heels of its multimillion-dollar advertising campaign touting the lightning-rod Trans-Texas Corridor plan and other toll roads."
"With an estimated price tag of $7 million to $9 million, the 'Keep Texas Moving' campaign comes even as transportation officials warn of an $86 billion shortfall for needed highway construction."
"The report not only advocates turning stretches of interstate highways into toll roads, but it also suggests tax breaks for private company "investment" in such enterprises."
"It seeks changes in federal law to allow the use of equity capital as a source of transportation funding. Along with that, it calls for altering the tax code to 'exempt partnership distributions or corporate dividends related to ownership of (a) toll road from income taxation.'"
FULL STORY: TxDOT plan would convert some interstates to toll roads
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