Taking The Bull By The Horns

Legislation providing for leasing the Pennsylvania Turnpike was finally introduced in the House yesterday.

Rep. Steve Cappelli (R-Williamsport) and Rep. Dwight Evans (D-Phialdephia) introduced the legislation. Not only did the cosponsors represent a bipartisan initiative to get the bill passed, but also a joint venture between a rural Republican and an urban Democrat. Rep. Capelli is pushing the Turnpike lease as a sensible solution and last viable option for moving forward on the state's infrastructure needs. Evans echoed a similar sentiment.

The actually legislation will likely not be considered until the fall as the legislative agenda this month will be consumed with budget considerations and other priorities before the summer recess.

This delay could could complicate things even further as the bid for the Turnpike was only good until June 20th. The bid could decrease if interest rates rise between now and then. The offer will decrease by 0.10% for every hundredth of a percentage point increase in interest rates. Although the group has been flexible in agreeing to extend the bid's deadline, it is likely that delays in legislative action could diminish the firm's generosity.