Fecteau: Biden is Wrong on Rhodeworks
Wednesday, June 01, 2016
With Vice President Joe Biden’s recent trip to Rhode Island highlighting and supporting Rhode Island’s Rhodeworks’ plan, some have argued that those opposed to the tolls component are opposed to infrastructure funding; this is not the case. While I have enormous respect for Vice President Biden, I worked for him on the National Security Council, I simply, and humbly disagree with him on this issue.
Those supporting investment in America’s infrastructure, such as Vice President Biden and Governor Gina Raimondo, have some valid points. Our antiquated infrastructure is in dire need of repairs and upgrades. According to the American Society of Civil Engineers’ (ASCE) report, nation-wide, our infrastructure scores a D+. In addition, the United States needs to invest at least $3.6 trillion to bring that grade up to at least a B.
Rhode Islanders see this crumbling infrastructure every day. We can’t even drive down the street without hitting a pothole. According to the same ASCE report, 41% of Rhode Island’s major roads are in poor condition.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTIt is wrong that our federal government has failed to address this critical issue. Taxpayers seem to agree with approximately 75% of Americans support using taxpayer dollars to improve infrastructure. Our airports are a laughing stock, our train systems are a joke, and the fact that we don’t have a high-speed rail system equal to or longer than that of China is a national embarrassment.
We should be investing more in our infrastructure, but this is where I diverge from Democratic Leaders such as Governor Raimondo and Vice President Biden: we don’t need tolls. Why on earth do we need tolls again? Rhode Island is one of the most heavily taxed states in the country; it just makes no sense economically. We are penalizing the businesses that are so critical to Rhode Island’s economy.
According to the Rhode Island Public Expenditure Council (RIPEC), our legislators are wrong about the toll plan. Even with the Rhodeworks’ toll plan, an RIPEC study determined that while tolls will generate more than enough long-term revenue, there will be some significant short-term shortfalls. The study gives Rhode Island three options, all without tolls. One option urges Rhode Island to borrow more money from the federal government.
While it sounds worrying to merely borrow money, there are such things as benign investment and mal-investment. If you own a home and take out another loan to expand or improve it, your home increases in value. However, if you take out a loan and go buy a Lexus, which is a complete waste – though you have a nice car.
If Rhode Island borrows federal money to invest in our infrastructure, Rhode Island will likely see significant job growth. One study finds that for everyone one billion in federal dollars invested in infrastructure, approximately 22,000 jobs are created. These are the good paying, quality jobs that would increase Rhode Island’s tax base and revenue substantially. We are investing in our state, but also expanding economic opportunities for all Rhode Islanders in the process.
Therefore, while I support infrastructure investment, I simply see other more viable alternates that should have been discussed besides tolls. Unfortunately, our elected leadership was too stuck in their ways to realize and embrace the alternatives. Now our small businesses will pay the price.
As for Vice President Biden, he was simply was wrong on Rhodeworks.
Matt Fecteau ([email protected]), of Pawtucket, Rhode Island, lost to U.S. Rep. David Cicilline in 2014’s Democratic primary. He is a former White House national security intern and Iraq war veteran.
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