Wes Moore
๐ค SpeakerAppearances Over Time
Podcast Appearances
Absolutely.
And Secretary Duffy as well, who's actually been a very good partner.
Yeah, and in fact, not only have we been working very closely with Secretary Duffy on it, yes, when I made the announcement that I was firing the other contractor because they weren't getting what my expectations were, Secretary Duffy then put out another note from the Department of Transportation basically echoing what we said and saying, I think the state of Maryland did the right thing.
So this was something that it was both for
not just the state, but also the federal government came back and piggybacked and said this was the right thing.
So for this bridge, the federal government and also I got to give credit to Congress and both Democrats and Republicans in Congress because they voted for the 100 percent cost share.
And so what a 100 percent cost share is, it's essentially bridge financing.
It's essentially saying, listen, you know, we know that this is going in litigation.
And when and we know then when the litigation is is is settled, because even Lloyd's of London has indicated this is probably going to be the most expensive maritime tragedy in our nation's history.
But what they know is I can't wait for that to be complete.
So what the federal government is saying is that, listen, we're going to help to support it, but essentially we are going to do bridge financing.
Once everything is settled, that money then comes back to the Treasury.
But then the federal government on not just this project, but the federal government when it comes to most projects that take place around the country, they serve as the main underwriter because whether you're talking about roads or bridges or tunnels โ
No state has the resources to be able to take care of all infrastructure in your state alone.
That support comes from Congress.
That support comes from Washington.
And so this, like other projects in the last round, came from Washington where they said, we are going to support because we think this project is important enough to be able to serve as an underwriter.
He has been a very, very good partner.
And only the third in American history.