Cheaper to Buy New Cars than Build Light Rail
Source: Randal O'Toole, "Review of Greenlight Pinellas," Cato Institute, August 14, 2014
August 22, 2014
The Pinellas Suncoast Transit Authority (PSTA) serves Pinellas County, Florida. Currently funded by property taxes, the PSTA has proposed to switch its funding source to a sales tax. The switch would make tax revenues double, giving PSTA the funds to build a light-rail line and make its bus system larger. The proposal, writes Randal O'Toole of the Cato Institute, is unnecessarily expensive: light rail is inferior to bus service, which can transport passengers more comfortably for much less money.
PSTA does not have an impressive track record when it comes to predicting travel needs:
Significantly, the PSTA proposal is so off-balance in its costs and benefits that it would not have qualified for federal funding under last year's Department of Transportation rules.
O'Toole provides a shocking statistic: Building PSTA's light-rail line would be so expensive that it would be cheaper to give every new round-trip commuter that would otherwise use the light-rail system a new Toyota Prius, every single year for three decades.
PSTA does not have an impressive track record when it comes to predicting travel needs:
- Between 1991 and 2005, it increased its bus service by 46 percent yet gained no new riders.
- Moreover, there was a 17 percent decline in passenger miles.
- Average bus occupancy dropped by 44 percent.
Significantly, the PSTA proposal is so off-balance in its costs and benefits that it would not have qualified for federal funding under last year's Department of Transportation rules.
O'Toole provides a shocking statistic: Building PSTA's light-rail line would be so expensive that it would be cheaper to give every new round-trip commuter that would otherwise use the light-rail system a new Toyota Prius, every single year for three decades.
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