Wednesday, September 26, 2012
P.A. Turnpike Trying To Avoid Bankruptcy
State lawmakers are hearing warning signs about the Pennsylvania Turnpike's debt load from the state's elected fiscal watchdog. Auditor General Jack Wagner told a legislative committee Tuesday that turnpike officials are using "flim-flam'' financing and predicted the toll road could go bankrupt in a couple years. Turnpike Chief Executive,Roger Nutt, reassured lawmakers that toll increases will allow it to avoid financial calamity. Wagner wants the General Assembly to repeal a 2007 law that is producing hundreds of millions annually for transportation projects and public transit.