Passenger Trains > FL - Rubio, Mast challenge BrightLine bonds

FL Rep Brian Mast (R-18), and FL Senator Marco Rubio have both challenged BrightLine's use of private activity bonds which give Brightline tax exempt financing. The article has a description of how private activity bonds work. While they are not guaranteed by an agency, the tax exempt status significantly reduces BrightLine's costs.

Rubio is not running for re-election this year, he was re-elected senator after dropping his Presidential quest. Mast is facing a primary challenge on the right from a gun rights advocate, nobody is challenging him on opposition to BrightLine.

https://www.mypalmbeachpost.com/business/new-rubio-questions-brightline-use-tax-exempt-bonds/XXxxvCrO7GejogHDceBcyI/

I believe they were in favor of reducing the tax rate on individual incomes and corporations, but for whatever reason are opposed when a corporation seeks tax relief to build a project that the state has dropped the ball on for 30 years.

Unbelievable.

chrsjrcj Wrote:
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> I believe they were in favor of reducing the tax
> rate on individual incomes and corporations, but
> for whatever reason are opposed when a corporation
> seeks tax relief to build a project that the state
> has dropped the ball on for 30 years.
>
> Unbelievable.

Brightline's problem is that the provision for "high speed rail" in the program specifies that qualifying service has to have a top speed higher than 150 mph. Brightline is only proposing 125. You can argue that the program was drafted with no real intention of allowing financing for high-speed rail, but that's how it was written.