State appropriators will meet Thursday in hopes of reaching a compromise on a bond plan that would provide money for transportation, higher education, the environment and cultural infrastructure. Legislators should make sure a deal is made in time for a ballot question this year.

Despite its haphazard treatment at the hands of legislators, this bond is important. Among other things, the money is necessary to secure the state’s share of federal fuel tax receipts and to fund major transportation projects.

In his original bond proposal, Gov. John Baldacci asked the Legislature to approve $75 million worth of transportation bonds. The bond is part of the governor’s $633 million Biennial Transportation Improvement Plan, which would fund more than 1,200 projects around the state, create about 10,000 full-time jobs, reconstruct 180 miles of highways and rehabilitate 83 bridges.

Without the money from the proposed bond, the state will not be eligible for more than $200 million in federal transportation funding. Mainers sent that money to Washington, but it will only come back if the state dedicates new money to infrastructure repairs and construction.

It takes a two-thirds majority in the House and Senate to send the bond package to voters. And while support for some kind of transportation bond is almost universal, other proposed borrowing has met with stiff resistance. Republican leaders want to put a cap of about $84 million on the total bond package. Democrats, who began by seeking more than $100 million, have come down to about $93 million in their request. The last $10 million is the sticking point.

Republicans say the state shouldn’t borrow more than is absolutely necessary; Democrats counter that now, because of low interest rates and vast needs, is a good time to issue bonds.

The projects hoping for a piece of the bond pie are worthwhile. For example, the Maine Cultural Affairs Council would receive $4 million for critical improvements to libraries, museums and archives. Every state dollar this innovative consortium receives attracts $7 from other sources in support of the state’s creative economy.

There are different types of debt. While Maine’s traditional debt burden remains low, the state has borrowed heavily from its infrastructure. We have allowed our roads, public buildings and public spaces to erode. Bond debt, available now at discount rates, is a good way to address some of those problems.

A reasonable compromise in the $89 million range could still provide $65 million to transportation, $4 million to the Cultural Affairs Council and a substantial investment of around $10 million each to higher education and the environment. Both Republicans and Democrats could find something to celebrate in such a deal.

We urge state lawmakers to develop a bond compromise for the ballot in November. If no bond package is produced, the Legislature will be held responsible for costing Maine its share of federal transportation dollars and a missed opportunity to invest in the state’s infrastructure.
dfarmer@sunjournal.com

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