A proposal to use tolls to fund the construction of a new I-10 bridge in Lake Charles receives strong opposition from Louisiana truckers. Brooke Thorington has more
Cut 1 (33) “…I’m Brooke Thorington.”
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As the Fed raises interest rates a quarter point, what effect will that have on Louisiana home buyers? Kevin Gallagher has more…:
Cut 2 (34)…I’m Kevin Gallagher.”
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Governor John Bel Edwards’s proposal to allocate 500-million dollars towards building a new I-10 Mississippi River Bridge in Baton Rouge is facing some pushback from legislative leaders. Senate President Page Cortez says that’s a lot of money to set aside when environmental impact studies have not been done or a corridor for a new bridge has yet to be selected
During his State of the State address, Edwards says now is the time to make a major investment towards a significant traffic problem for the Baton Rouge area.
Speaker Pro Tem and Houma Representative Tanner Magee says he supports funding for a new Mississippi River Bridge, but he would like to see attached to a plan to secure the rest of the funding so that the project is more shove ready…
House Democratic Caucus Chairman Sam Jenkins of Shreveport is also hesitant about setting 500-million dollars aside for a new Mississippi River Bridge. He’s also concerned about using 550-million dollars in federal pandemic aid to help replenish the Unemployment insurance trust fund…
Cut 5 (06) “..different direction.”
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The state’s trucking industry says they’re not happy with proposals of tolls to build a new I-10 bridge in Lake Charles. Louisiana Motor Transport Association executive director Renee Amar says while members agree the Calcasieu bridge is in dire need of replacement not a single one is in favor of tolls to fund the project.
Amar says not only does a toll bridge place a burden on truckers, but the ultimate cost is passed on to taxpayers. She says studies show if you take for example a $100-million dollar project it will end up costing $120-million because of a public-private partnership.
Amar believes the administration needs to put the Calcasieu Bridge on the front burner and rethink how they will spend federal infrastructure monies. She says doing so can also help relieve supply chain issues.
The most recent estimate for the project is $600 to $800 million.
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Positioning the state’s flagship university as a leader in cybersecurity is one of LSU President William Tate’s top priorities, and now the university has a strategy in place to make that happen. Provost Matt Lee said that step one is increasing faculty and expanding research in LSU’s highly-respected engineering college.
Cut 9 (12) “…at a university.”
Cross-training of students from different disciplines is a critical component of the expansion. Lee says LSU will strengthen its ROTC program with facility and training upgrades and add new skill development tracks for civilian students as well.
Cut 10 (12) “…development training.”
This is uncharted territory for LSU, as there isn’t another program like this in the country. Lee says the university is ready for the challenge and believes business and industry leaders will flock to graduates of this unique combination of cyber security and defense studies.
Cut 11 (09) “…academic endeavors.”
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In an effort to stave off record-high inflation, the Federal Reserve has raised the prime short-term lending rate by ¼ of a percent; meaning higher loan rates for businesses and consumers. Louisiana Realtors Association CEO Norman Morris says standard mortgage rates are now at over 4-percent; their highest since April of 2019…:
Cut 12 (08) “…the week before.”
Morris says, yes, the rate increase will mean buying a home may be a bit harder – especially for first-time buyers – but the real estate industry remains positive for the economy to stabilize…:
Cut 13 (11) “…to fight this inflation.”
Despite the interest rate hike, Morris says real estate is a sellers’ market right now, and prospective buyers will still be motivated to make that big purchase….:
Cut 14 (11) “…great time to buy.”
Morris says – even at over 4-percent – mortgage rates are still pretty low, when compared to the double-digit rates of the 1980’s and early 90’s.
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