LaFaive Cited by Fox News

Indiana toll road privatization

A 2006 deal to privatize Indiana’s toll road for $3.8 billion that is in jeopardy now that the company has declared bankruptcy was designed to protect the state’s taxpayers, Fiscal Policy Director Michael LaFaive told Fox News.

“The deal was designed to protect the state of Indiana,” LaFaive said. “If they go belly up, the state could get it back if it’s not sold to another group. The worst case scenario would be that creditors would get control.”

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Either way, Fox reports, the state will keep all of the money it has received so far.