In today’s Washington Times, Congressman Frank Wolf (VA-10, Retired) and Thomas Jefferson Institute President Derrick Max discuss Metro’s importance to the region, its near billion dollar deficits, its growing burden on local and state budgets, and the need for an empowered CFO to get Metro on solid financial footing. They also reject any discussion of a dedicated “Metro Tax” until substantial reforms are in place.
They write: “Metro’s financing troubles are well known. Billion dollar annual operating deficits are looming, billions in federal pandemic relief are ending, ridership has collapsed, and local jurisdictions are buckling under the annual bailout payments needed to keep the system afloat.”
“To avoid bankruptcy and to restore faith in Metro, WMATA needs a data-driven, results oriented CFO with unfettered powers, the ability to rewrite contracts, and to think outside the box for additional revenue.”
The authors compare WMATA’s financial troubles to those of Washington, D.C. in the early 1990s and call for the same person to right WMATA’s books as he once did successfully for our Nation’s Capital — former D.C. Mayor Anthony Williams!
The authors conclude: “Anthony Williams’ abilities are well known. He has a record of accomplishment that put Washington, D.C. on sound financial footing, and he has recently spelled out a credible path to do the same for Metro. WMATA needs you, Mayor Williams! Let’s make Metro work.”
Read Wolf and Max’s timely and insightful commentary in the Washington Times by clicking here.
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