Billions needed to fund infrastructure bonds
California voters will have numerous bond measures to scrutinize in the upcoming 2006 Elections. The measures include programs to fund housing for lower-income residents, to repair and upgrade public
When November 7th rolls around, Californians will have to make some decisions about a lot of money. The governor and the Legislature have placed infrastructure bonds on the ballot that call for more than $40 billion in state spending. Of course, you might as well call it $80 billion, since that will be the ultimate cost when you add the interest on the bonds.
Propositions 1B through 1E would fund transportation projects, housing, education, and flood control. Few people would argue that the projects identified for funding are unnecessary. The question is the cost, and whether California can afford to go that much further into debt.
- Tom Scott , executive director of the San Diego Housing Federation, which supports Proposition 1C.
- Paul Hefner , spokesman for “Let’s Rebuild California,” which supports Propositions 1D and 1E.
- Thomas N. Hudson , executive director of the California Taxpayer Protection.