It’s disappointing — but not at all surprising — that lawmakers and the governor want to completely sweep money that had previously been earmarked for the Water Infrastructure Financing Authority.
State leaders radically expanded the authority in 2022 and promised to seed it with $1 billion, mostly to bring Arizona water from elsewhere.
But they insisted on breaking the investment over three fiscal years. I said then that the likelihood of seeing the full billion was slim.
Sure enough, lawmakers failed to fully fund a second $333 million installment in 2023, even though they had the cash, preferring to fund pet water projects instead.
And this year, staring down a $1.4 billion shortfall, the idea is to give WIFA no cash at all.
I get it.
If the choice is between paying someone or building something right now, versus putting money in a fund for a later benefit — even a big one that could radically change the state’s water future — lawmakers are going to choose the here and now.
And — try as WIFA might to dispel the distrust — some lawmakers just don’t want to give the agency any more cash after former........