Covered at Reason 24/7: Republicans Look to Block LA to Vegas Rail Loan

900324 7Thumb Covered at Reason 24/7: Republicans Look to Block LA to Vegas Rail Loan

A study
by the Reason Foundation (the nonprofit organization that publishes
this site and Reason magazine) has been cited by
Congressional Republicans trying to block a $5.5 billion federal
loan to build high-speed rail from Southern California to Las
Vegas.
The Las Vegas Journal-Review
notes:

Two leading Republicans have urged the Obama administration to
reject a $5.5 billion loan to build a high-speed rail between Las
Vegas and Southern California, saying the deal is a bad gamble.
“The risks to the taxpayers from financing this project are
untenable,” Rep. Paul Ryan of Wisconsin and Sen. Jeff Sessions of
Alabama wrote to Transportation Secretary Ray LaHood in a March 6
letter.
Ryan is chairman of the House Budget Committee, and Sessions is
the ranking GOP member on the Senate Budget Committee. Their
argument was based in part on a 70-page report, released in August
by the libertarian Reason Foundation, critical of the project being
advanced by XpressWest.

The congressmen also cite another report from Congressional
Research Service that said high-speed rail projects rarely ever
earn enough revenue to cover the construction and operational
costs.
Follow this story and more at Reason 24/7.
If you have a story that would be of interest to Reason’s
readers please let us know by emailing the 24/7 crew at
24_7@reason.com, or tweet us stories at ;@reason247.

Source article:

Covered at Reason 24/7: Republicans Look to Block LA to Vegas Rail Loan


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