Hey folks – let’s talk about the Uinta Basin Railway Project.
As you know, many Colorado communities have raised concerns about this project, which could send as many as 5 crude oil trains a day through our state – traversing more than 100 miles alongside the headwaters of the Colorado River.
Backers of the project are now seeking tax-exempt private activity bonds to help finance the project, or as we like to call them: taxpayer dollars. Typically, the Department of Transportation issues these bonds for projects with a clear public transportation benefit, like highways or passenger rail, not to finance a crude oil rail project.
Why is the Uinta Basin Railway Project trying to use taxpayer-funded bonds? Because it’s becoming increasingly costly – recent reporting indicates its costs have more than doubled since first proposed. If this project were economically viable, developers wouldn’t need to rely on federal subsidies.
For all these reasons, I share the sentiments of Colorado communities that have voiced concerns over this proposed project. Your tax dollars shouldn’t be financing this.
That’s why we’ve sent a letter to Secretary of Transportation Pete Buttigieg cautioning against the use of taxpayer dollars for such a risky project. We’re following closely and are waiting to hear back from the Department of Transportation on our concerns – stay tuned.
Senator John Hickenlooper