Tags: rick scott | high-speed rail project | florida governor

Report: Rick Scott Supports High-Speed Rail He Invested In

By    |   Friday, 17 August 2018 03:32 PM

Gov. Rick Scott, R-Fla., has raised eyebrows for supporting a private high-speed train project he has invested in just years after he canceled a shovel-ready, government-funded one in 2011, according to a Miami Herald report.

The government one was rejected by Scott because of "an extremely high risk of overspending taxpayer dollars with no guarantee of economic growth, per the report, but Scott and his wife have since invested more than $3 million in All Aboard Florida's parent company, Fortress Investment Group, before All Aboard has announced a similar high-speed rail project.

The ties were revealed in recent financial disclosures as required by his campaign.

Scott, running for Florida's U.S. Senate seat this November, has expressed support for that private project.

"Instead of placing taxpayers on the hook for hundreds of millions of dollars, our goal is for the private sector to invest in this project," Scott said, per the Herald. "Through private investment, we ensure that this major project has zero financial risk to Florida taxpayers."

A spokeswoman for Scott, Lauren Schenone, said the investment is not directly tied to the rail project and the Senate candidate would not personally profit from the high-speed train's success, according to NPR.

"The success or failure of All Aboard Florida or any rail project within the State of Florida will have no effect on this investment," Schenone told NPR via email.

". . . the governor's blind trust is managed by an independent third party to shield his investments from his direct control and to avoid any potential conflicts of interest. As such, the governor has no control of what is bought or sold in the blind trust."

Scott has $500K is invested in a credit fund tied to Fortress Investment Group, the line's parent company. Also, Scott's wife has more than $2.5 million invested, according to disclosures, NPR reported.

When asked about the wife's investment ties, Schenone reportedly said "Ann Scott is not an elected official."

"Instead of placing taxpayers on the hook for hundreds of millions of dollars, our goal is for the private sector to invest in this project," Scott said, per the Herald. "Through private investment, we ensure that this major project has zero financial risk to Florida taxpayers."

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Gov. Rick Scott, R-Fla., has raised eyebrows for supporting a private high-speed train project he has invested in just years after he canceled a shovel-ready, government-funded one in 2011, according to a Miami Herald report.
rick scott, high-speed rail project, florida governor
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2018-32-17
Friday, 17 August 2018 03:32 PM
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