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NO. R-158. JOINT RESOLUTION urging passage of legislation supporting long-term bonds to provide capital for intercity passenger rail.

(J.R.S. 46)

Offered by: Senator Doyle of Washington County, Senator Ide of Caledonia County and Senator Mazza of Grand Isle County.

Whereas, the Transportation Equity Act for the 21st Century (TEA-21) created several innovative transportation infrastructure financing techniques, some of which are already benefiting the Northeast, and

Whereas, intercity passenger rail is both a capital and labor intensive industry, and the modernization of our rail infrastructure and creation of additional high speed rail corridors (for example, Boston to Portland) will improve the efficiency of our overall transportation system and reduce gridlock and wing lock, and

Whereas, intercity passenger rail plays an essential role in the transportation system of the Northeast, in addition to environmental protection, energy efficiency, economic development, and promotion of land use planning through reinvestment in urban areas, and

Whereas, intercity passenger rail merits a dedicated long-term source of funds for capital financing, and tax-exempt bond financing would help to meet the need for capital financing, and

Whereas, S.250, introduced by Senators Joseph Biden, Delaware, Kay Bailey Hutchinson, Texas, Trent Lott, Mississippi, and Tom Daschle, South Dakota, would allow Amtrak to issue $12 billion in tax-exempt bonds over 10 years and to begin to address the need for long-term capital financing, now therefore be it

Resolved by the Senate and House of Representatives:

That the Vermont General Assembly transmits this resolution to the Congressional members from the New England states in support of S.250 and its long-term capital financing program for Amtrak, and be it further

Resolved: That this resolution be transmitted directly to the Governors and Transportation Secretaries of the New England states.