The biggest flaw in the conservative ideological grab bag is their no tax pledge. The fact that taxes pay for public things is too complex for their little minds. They can't seem to get past mumbling something about "small government."
So these right wing freeloaders have decided to borrow, with interest, the money needed for transportation spending. This avoids reforms due to more fuel efficient vehicles, like introducing a mileage tax in conjunction to the gas tax. Not only that, the revenue bonds are tied to vehicle registration, which means a big increase somewhere in our future.
But boy, do we have a surplus or what!!!
jsonline: Wisconsin is set to issue as much as $393.6 million of revenue bonds today in its biggest transportation borrowing ever. The debt is backed by vehicle registration fees, according to bond documents. The transaction includes $270 million of securities to finance highway projects and $41 million to refund debt. Officials may also sell $82.7 million to refinance bonds maturing further out, putting the proceeds in escrow until the debt can be repaid …
The bottom line?
If the state issues the entire amount, it would be the largest transportation-revenue borrowing ever for Wisconsin, the state’s capital finance director Kevin Taylor said. Debt sold for transportation projects has earned 3.7 percent this year through March 18.