http://www.philly.com/philly/news/20120 ... arges.html
State lawmakers are considering whether to rewrite a 2007 law called Act 44, which that requires the turnpike to provide $450 million a year for public transit and road and bridge projects around Pennsylvania until 2057 in addition to paying for the costs of operating the 545-mile turnpike system.
To meet that obligation, the turnpike has borrowed billions and boosted cash tolls by 48 percent. Tolls will rise again in January and every year as the turnpike tries to raise enough money to pay its debt.
The turnpike is more than $7 billion in debt, up from $2 billion in 2002 and $4 billion in 2009. The burden continues to grow, with the turnpike required to make payments for statewide projects until 2057.
Here's from turnpike:
http://www.paturnpike.com/financial/pen ... ments.aspx
More than $3.5 billion has been provided to date, with annual payments of $450 million through the year 2057.
Of the $450 million, $250 million will support 73 transit agencies across the state, providing operating assistance which includes maintaining buses, keeping bus routes open, paying rent for facilities, salaries, as well as materials and supplies to keep the systems in operation to get people to and from: * Work * Shopping * Doctor Visits * School
This was one of Rendell's little tricks to increase spending without raising taxes, if I recall the first initial payment was 1 billion. Their operating expenses are only 315 million, they are giving more money to the state than they are spending themselves. AND your still paying the state tax on the fuel.