Governors seek federal dollars; Mary Peters stumps for private money

| 3/28/2008

A group of governors that includes California’s Arnold Schwarzenegger are urging the Bush administration to commit more money to roads and bridges.

The San Diego Union Tribune reported that the governors think the extra money would not only shore up a crumbling highway system, but also be a stimulus for the entire economy by creating new jobs.

However, the Bush administration is rejecting their proposal. Transportation Secretary Mary Peters stated on Wednesday, March 26, that states could attract more than $400 billion dollars for highway projects if they contracted with domestic and foreign private investors.

Private entities from around the world could build roads and bridges and earn profits on their investments by charging fees to users, in some cases in the form of tolls, Peters said.