NEW: Raimondo Issues Study Claiming Truck Tolls Would Benefit RI GDP by $500M
Thursday, October 08, 2015
Rhode Island Governor Gina Raimondo said Tuesday that a new study shows that her RhodeWorks plan -- which includes truck tolls -- will add thousands of jobs and boost Rhode Island's economy, while the GOP Policy Group fired back at Speaker Mattiello for not considering their no-toll plan.
Raimondo on Record
According to the Governor's office, an impact study conducted by Regional Economic Models, Inc (REMI) showed that the RhodeWorks plan would "increase the State's GDP by $538 million, increase personal income by $521 million, and create a net total of 6,487 jobs."
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTThe REMI study looked at eight different scenarios over an 11-year period based on different financing plans (tolls or tolls plus some gasoline taxes or diesel taxes) and whether the program includes federal funding of $400 million to build the Route 6/10 Transit system. Additional regional effects were also modeled and included "cost savings from avoided closings and postings of bridges and the creation of a benefits program for the trucking industry."
"Rhode Island cannot afford to sit on the sidelines while our infrastructure continues to deteriorate," said Raimondo. "This study again confirms that RhodeWorks is a smart approach to fix our crumbling infrastructure, create thousands of jobs, and accelerate our economic comeback by putting millions of dollars into the pockets of Rhode Islanders. It's time to stop dragging our feet and start taking action."
The study compared the full RhodeWorks project to a gas tax scenario, which the Governor's office said "created slightly greater jobs impacts, but lower gains in real disposable personal income for Rhode Islanders due to increased taxes on consumers. The Governor has made it clear she does not want to place the burden on the people of Rhode Island - or make Rhode Island more of an outlier. Rhode Island already has one of the highest gas taxes in the country, and gas tax revenue is declining every year. Additionally, gas tax is not a reliable source of funding as more people switch to energy efficient vehicles or seek cheaper gas across the border in Massachusetts."
GOP Fires Back at Speaker Over Alternative Plan
Republican House member Patricia Morgan, the Chair of the GOP Policy Group, fired back at Speaker Nicholas Mattiello following the GOP's release on Wednesday of their toll-free infrastructure plan
"Unfortunately, without taking the time necessary for a thorough analysis, Speaker Mattiello dismissed the Republican’s responsible plan to fix Rhode Island’s bridges. While there is always a political edge in the General Assembly, the Office of Speaker must transcend partisan politics – and we all must put electioneering aside when we consider issues that profoundly affect our economic stability and public safety," said Morgan. "We remain committed to open dialogue with all, regardless of political affiliation, in order to reach common ground and stop the damage that tolls and massive debt financing will wreak on our state's taxpayers, consumers, small businesses and trucking industry."
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