The Columbia River Crossing is a project that is aimed at diluting the congestion on I-5 between Oregon and Washington. The problem is that it won't do the job and we don't have the money.
HB 2800 was passed in Oregon's house and in the senate. Gov. Kitzhaber already said that he will sign in once it reaches his desk.
The problem with this bill is that it requires Oregon to issue approximately 450 million dollars of debt at a high rate. It would also require federal subsidies and a toll. Oh, and another problem, the congestion will not be solved. An estimated 60 seconds of travel will be reduced:
" A 2010 governors’ independent review panel found the massive project will shave exactly 60 seconds off the peak morning commute.
And here’s why: The Interstate Bridge and nearby interchanges are just one bottleneck. The project does nothing to fix the choke point at the Rose Quarter, five miles south, where I-5 narrows to two lanes."
http://www.wweek.com/portland/article-17566-a_bridge_too_false.html
It should be noted that the above article came from a highly liberal news source. Even fiscal liberals disagree with this bill.
Some reports have estimated that the CRC has already spent over 150 million in planning and research. Our lack of financial responsibility at the infancy of this project can only be a foreshadowing of what will happen when we actually begin construction.
We don't need to borrow more money. Lets get our budget under control and handle this issue a different way.