Great questions. Why isn’t the media doing its job to look after the public? This has already ballooned into a 20 billion construction project excluding right of way when they first estimated it would be 10 billion. They are aggressively seeking our federal taxpayer loans (RRIF, TIFIA) for at least several billion dollars and plan on paying off the initial investors (75 million plus interest) with our tax dollars. This is a developer project folks and they have talked a nice game to get people to buy their story. They still only have 15% of the land acquired in option contracts with only 10% down and most of the remaining property owners will not sell for these people. They continue to mislead the public in order to push forward their development scheme. They told everyone that billions of taxes will be paid from ticket sales. Folks there is no sales tax on transportation for ticket sales.
Wouldn’t a real transportation company know this? The media needs to ask the hard questions. The public and property owners get killed on this project while few will use and the developers line their pockets. We have to really ask the questions before it is too late.
Does the state of Texas have to “give permission” for this horror story to happen? If so, who in Texas government is responsible for granting the permission? I am not personally affected by this particular trample upon our land rights, but it really does affect every Texan. We need names – positions – people who we can contact to voice our opinions. Cannot believe the lack of coverage of this!
Great article! Would love to see some real reporting on this issue.
Like why hasn’t the FRA rescinded the fatally flawed DEIS?
The DEIS says that sales on tickets could generate over $50 billion in sales tax for state and local jurisdictions.
However, Texas does not levy sales tax on transportation.
The DEIS incorrectly calculates all emissions calculations by doubling the Vehicle Miles Traveled removed. These incorrect calculations affect the claimed 81.5 million gallons of gas saved a year (at best, it is half of that). This incorrect figure has been used by elected officials in editorials and letters to the Surface Transportation Commission.
It’s obvious why Japan would want to invest into TCR as it’s their only way to actually get their foot in the door with their bullet train when they’ve been shut out of previous high speed rail talks in California. Why is it a bad thing for a Japanese bank to invest in this project, especially at such an early stage? You are pushing the risk onto foreign banks rather than local banks, also don’t forget there’s still opportunities down the line when construction is well underway which at that point loaning would be less risky.
On an additional note, I hear this idea of using Self-Driving technology constantly and it’s insane that people are willing to put their trust into a un-tested technology, that’s already have several incidents by the way, compared to the 50 year fatality free record including the 2011 great earthquake.