Omaha World Herald on February 16: Supporters say infrastructure bank is worthy use of Nebraska’s rainy-day funds
LINCOLN — Business, industry and agriculture groups lined up Tuesday to support the governor’s plan to create a new fund for state highway construction and county bridge repair.
The Legislature’s Appropriations Committee heard three hours of testimony for a bill that would create a transportation infrastructure bank. Legislative Bill 960 also would allow roads officials to use new contracting methods intended to save money and shave several years off the timeline for major construction projects.
Gov. Pete Ricketts ran into significant opposition during recent legislative hearings on his property tax proposals. But his major roads bill — which could ultimately spend up to $300 million on transportation projects — has the strong backing of Omaha Mayor Jean Stothert, the Nebraska Chamber of Commerce and Industry, the Nebraska Farm Bureau and groups representing local governments, contractors, construction firms and design engineers.
Some lawmakers on the committee raised questions about the potential economic returns of more roads spending. And one person who testified suggested that a $150 million transfer from the cash reserve fund to capitalize the infrastructure bank could leave the state more vulnerable to an economic recession.
