Grassroot Institute of Hawaii‘s Dr. Keli’i Akina and University of Hawaii Law Professor Dr. Randy Roth talk about the extremely expensive and over budget Honolulu Rail Project.
“There was a great deception from the beginning”…..
As we have mentioned in earlier blog posts at the original Hawaii Files sites, rail is not a traffic solution but is a development project. The people and organizations making the most money out of this are the ones benefitting at tax payer expense. The current estimate to just finish building rail is $10 billion, with other estimates climbing higher to $15 billion.
Funding for the rail remains controversial, currently a 1/2% increase to the general excise tax that started in 2007. The rail tax period has been pushed out 10 years beyond its drop dead date to at least 2027.
With the remainder of the federal funding at possible risk and not enough to cover the rail, there are proposals to increase property taxes and many others in order to pay for rail.
How can the tax payers afford to continue funding this fiscal mistake and nightmare?
Video courtesy of ThinkTech Hawaii.