Anyone for Half a Rail? Anyone?
The Denver Post recently published an interesting story about the city’s floundering FasTracks rail program. The scenario sounds eerily similar to Honolulu's and could be a warning. Colorado voters approved a 0.4 percent sales tax increase to pay for the project. They were told $1 billion in federal funding would be part of the package, but that remains uncertain. Now, plummeting tax revenues and rising construction costs have left them $2.4 billion short. The government’s solution? Proposing another tax increase to close the gap.