Texas hasn't borrowed. How many times has your state raised the debt limit on highway borrowing? Three?
I have no idea, and I could care less. Arizona was listed last week as the fastest growing state in the country, no doubt accomplished on the back of miles and miles of brand new free roads. The growth will pay for whatever debt increase there was, which was the point of doing it in the first place. How do you think companies grow? They borrow money, duh. Governments can and should do the same thing and for the same reason.
Growth brings money, and borrowing brings growth which pays off the debts. If Texans are too stupid to know that, then I'm glad I left there in 84.
Any Texan that buys the line that it would take a buck forty per gallon tax increase to fund roads is a few cards short of a full deck. And the fact you're trying to sell that line demonstrates other things.
Arizona has almost a Billion (with a 'B') dollars surplus in the state treasury. Whether we've borrowed for highways I don't know. But if we have, good. We're driving on the roads now, growing the state, and we have lots and lots of money.
Texas (the French Toll Road State) doesn't.
What's wrong with Texas?
You know, I seem to remember that even in California gas taxes were about $ 0.50 a gallon. Taxes here in Pennsylvania are somewhat lower.
Now, neither California nor Pennsylvania does a particularly good job on road maintenance, but paying $1 per gallon over what other states charge, or roughly $ 0.05 per mile if your car gets 20mpg, doesn't sound any cheaper than tolls.
I think Texas is one of the best-run state in the union, but something doesn't smell right here.
D