The Transportation and Energy Bill which still must go thru several committees to come out as a larger or smaller hit to the taxpayer comes in at a whopping $250-260 Billion. This blows up Ryans Budget which didn't do much to reduce spending though had some sensible structural reforms.
There are some useful reforms but we need to read the final details. It looks like there are State Bailouts in the Bill such as permitting toll collection with out repayment of Federal loans. The money must be dedicate to Transportation but make no mistake, this is a Bailout. See the proposed Bill here http://republicans.transportation.house.gov/Media/file/112th/Highwa...
Though this eliminates for instance the mandates to divert funding to non-highway spending, it allows States to divert up to 10% into "safety programs" (Think painting bike lanes on local streets) It is unclear if we'll be paying directly for the miles long "driveways" to new oil and mining exploration. I've yet to read the allocation to every state or the details on the method of funding. The below Boehner link suggests we'll get it out of new oil/mining revenue. Is this anticipated tax revenue or direct financing to oil companies so Americans never pick up the tab? I'll be reading the Bill over the coming days and keep you posted.
Americans can't afford more debt. I'm VERY interested in the allocation among States. Here are more detail on the fantasy math Republicans are employing and the winners and losers among the States. http://finance.townhall.com/columnists/michaeltanner/2012/02/12/hig...
Tea Party WDC