Pennsylvania Turnpike Is Billions Of Dollars In Debt

Map of the Pennsylvania Turnpike

Map of the Pennsylvania Turnpike (Photo credit: Wikipedia)

Editor’s note:  Stop the madness!

PHILADELPHIA – The Pennsylvania Turnpike may be on the road to the poorhouse.

Required by a 2007 state law to provide billions of dollars for statewide road and bridge repairs and transit operations, the turnpike is spending more money each year than it makes, despite toll increases that have doubled the cost to travel the turnpike over the last 10 years.

To meet the financial demands created by the law, Act 44, turnpike officials have borrowed aggressively, leaving the agency deeper in debt each year.

The Turnpike Commission is now more than $7 billion in debt, up from $2 billion in 2002 and $4 billion in 2009. The burden continues to grow, with the turnpike required to make payments until 2057.

Read more: http://readingeagle.com/article.aspx?id=411605