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NEW ENGLAND: Massachusetts takes on debt to help Turnpike Authority
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July 16, 2008
Massachusetts takes on debt to help Turnpike Authority


(Latoyia Edwards, NECN: Weston, MA) - The Massachusetts House has approved the Patrick Administration's proposed financial rescue of the Massachusetts Turnpike Authority.

State Treasurer Tim Cahill calls the plan reckless.

Massachusetts taxpayers are serving as a co-signer on a loan to help pay back the debt from the Big Dig.

The Commonwealth can get a better interest rate on the loan than the Turnpike Authority, but Cahill says the state will be taking on about two-million-dollars in unnecessary debt.

NECN's Latoyia Edwards has more in the video player above.

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