Metro Board Chairman Jack Evans is urging a takeover of the Metro system by the Federal government. Evans said only a body with “extraordinary powers” to raise money and fire people would have a chance to rescue Metro. Evans realizes this will be an uphill battle. Details here.
Metro Board Chairman wants the Feds to Take Over Metro
written by Jeanine Martin November 3, 2016
Also known as Lovettsville Lady, I am a Republican activist in the wilds of western Loudoun County.
This just adds one more chapter in the never-ending “Just How Bad Does WMATA Suck?” saga.
This is basically a total surrender. Evans is saying that WMATA is incapable of recovering and will not be able to return to being a fully operating, functional system. They need a massive federal bailout and a complete restructuring.
It is also one more proof point regarding the incredibly dumb Loudoun County vote to become a Funding Partner to metro. They couldn’t have picked a worse time to partner with the system. Our local yocals continue to whistle past the graveyard. When the system formally goes into bankruptcy and then lenders come to dig deeper into Loudoun’s pockets, only then will they whistle a different tune.
Some golden nuggets:
Rep. John L. Mica (R-Fla.), chairman of the House Oversight subcommittee on transportation and public assets…emphasized, however, that Metro would not be getting any operating funds from Congress. “Absolutely not,” said Mica, who has been a critic of the Washington Metropolitan Area Transit Authority. “It’s a very prosperous region. The local governments can certainly help.”
“THE LOCAL GOVERNMENTS CAN CERTAINLY HELP” Here comes a tax hike Loudoun.
“chief financial officer, Jeffrey S. DeWitt, estimates that Metro needs $12 billion to $18 billion in additional capital funds over the next 10 years to pay for system maintenance and upgrades.”
$12B-$18B!!!! Here comes another tax hike Loudoun.
“he hopes that the federal government would assume responsibility for Metro’s unfunded pension liability of $2.8 billion”
On top of the $18B. Another $2.8B in unfunded pension liabilities! There is another tax hike for Loudoun.
So, the geniuses that are the Loudoun County Board of Supervisors bought into a system and agreed to pay for 4.8% of a system that is roughly $20 friggin’ BILLION dollars in the hole. If we are to be held to that 4.8% we’d have to cough up another $1B billion dollars on top of the already $300M we committed.
Dave, would you please email at [email protected]?
This guy thinks the federal government should run metro because they can fire people? He must be thinking of some other federal government than the one I am.