LANSING, Mich. — State Sen. Peter J. Lucido, R-Shelby Township, issued the following statement in reaction to Gov. Gretchen Whitmer’s unilateral decision to sell $3.5 billion in bonds for work on some state roads:
“Last night, Gov. Whitmer announced that she will ‘fix (some of) the damn roads’ by filling potholes with borrowed money. History proves that long-term bonding for maintenance is a risky maneuver that doesn’t turn out well for taxpayers.
“First, selling bonds isn’t a road ‘funding plan’ — it’s a road ‘financing scheme’ that doesn’t address the underlying structural problems with the Public Act 51 road funding formula. It will just saddle taxpayers with long-term debt that will decrease existing revenue available to repair state and local roads in the future, because it will need to be spent repaying 25 years’ worth of interest on the bonds.
“Second, the money from selling bonds can only be used on state-owned roads, which means the governor’s scheme entirely ignores the local roads on which most of us travel each and every day and which currently need the most work.
“It is now more important than ever that the Legislature pass Senate Bill 27 to begin addressing the structural problems with the state’s road funding formula and redirect existing state revenues to local road agencies, thereby empowering local communities to repair the roads on which we travel most — without raising taxes or incurring massive debt.”