February 5, 2016

NY Dem Attacked For His Fiscally Irresponsible Record On “Moneymaker” Utility Company

At a debate Wednesday, New York Democrat Anna Throne-Holst subtly attacked her primary opponent Dave Calone for his abysmal record on the Long Island Power Authority (LIPA). Throne-Holst said “we should get away from our dependency on LIPA” and called the unpopular utility company a “moneymaker.”

Calone served on LIPA’s board of trustees from 2009 to 2012. From 1998 to 2011, LIPA paid $9 million to $11 million annually on sales tax despite receiving a tax-exempt status.

LIPA’s debt increased during Calone’s tenure and Long Island consumers felt the effect with higher electricity prices. In 2011, LIPA customers “paid the second-highest rates among U.S. utilities with at least 500,000 consumers.”

Calone may claim that he attempted a “revamp” of the authority’s finances, but in the end, he chose a plan that remained close to the status quo.

With such a record of fiscal irresponsibility, Calone cannot be trusted to work on problems as consequential as the national debt and out-of-control spending in Washington.