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Columnist Harold Meyerson at the Washington Post today gushes over L.A.'s voter-approved Measure R, the sales tax which is expected to generate $30 to $40 billion for transportation projects over the next 30 years. Not only that, he loves Mayor Antonio Villaraigosa's 30 in 10 plan.
"Now, Los Angeles is asking Washington for loans -- not grants, mind you -- to be repaid with that sales tax revenue, to accelerate said construction so that it can be done in one decade rather than three. In other words, to help finance a major environmental and stimulus program that won't add to the federal deficit." It would also save $4 billion by building now instead of later and would create over 150,000 jobs over the next 10 years.
The feds, however, are not setup for such a program, but the momentum seems to be building.
(h/t Streetsblog | Photo: GarySe7en)