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Business News , 1999 Business News History Archive
2000 <- 1999 -> -----
This was "new," more news was added in 2001 and still more in 2002.


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1999 Business News:

19990609

Richard Shelby

Money

Politics

Federal

Transit

Construction

Alabama

California

New York

"Richard Shelby Is No Robin Hood." ... "Shortly before the Memorial Day recess, [Alabama Republican] Senator Richard Shelby started to pick the pockets of both California and New York State. The Senate Appropriations Committee voted overwhelmingly to impose the Alabama Senator's 12.5 percent ceiling on what any one state can receive of the annual total of Federal rapid-transit aid. That would siphon off some $200 million to $300 million that would ordinarily go to New York or California in fiscal 2000 and redistribute it in equal shares to the other 48 states for mass transit." ... "Without these subways, commuter rail lines, light rail systems and buses, major metropolitan areas in both states would choke on highway congestion." ... "Mr. Shelby's Transit Equity Provision pretends to champion fairness even as it steals money from overburdened transit systems and distributes it to states that may not have matching funds or projects ready to carry out. But ''fairness'' cuts many ways. In fiscal 1997, by one analysis, New York delivered $14.2 billion more in taxes to Washington [DC, United States Capital] than it received in aid, and California delivered $11.8 billion more. Mr. Shelby's Alabama, on the other hand, was the beneficiary of $6.9 billion more in aid than it gave Washington in taxes. Is it ''fair'' to make these imbalances even greater?"

-NYTimes

1999 Business News

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1999 Business News Archive
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