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2/24/10

Mayor Hickenlooper, FasTracks and the taxpayers

Denver Mayor John Hickenlooper was and is a BIG cheerleader for FasTracks, the 122-mile commuter rail and light rail project. Now running for governor of Colorado, he continues to emphasize that FasTracks is a model of regional cooperation.

But at what price?

The Economist magazine recently noted "a $2.4 billion shortfall and a scramble for alternative sources of finance."



http://www.youtube.com/watch?v=oubeKAJpFT0

The $4.7 billion funding from increased sales taxes approved by Denver metro voters in 2004 isn't going to get it built and operating by 2017.

Boosters may have to GO BACK to the ballot and convince voters that ANOTHER sales tax hike is needed.

Randal O'Toole, author of the book "Gridlock" and a Cato Institute senior fellow, has been a longtime critic of the project, including this analysis from 2004.



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