"I still think it's a deal that is insufficient to achieve what the goal is here," said Rep. Joe Markosek (D., Allegheny).

Members of the team that submitted the highest bid of $12.8 billion described how it would subsidize the state's roads, bridges and mass-transit agencies while assuming some of the long-term risks the state currently faces, such as potential vehicle-count decreases.

"This is a rock-solid proposal - the best of all possible proposals, in our opinion," said Jordi Graells with Abertis Infraestructuras of Spain, a bidding partner with Citi Infrastructure Investors.

But two finance professors hired by the House Democratic Caucus to review the offer said its value compares unfavorably to leaving in place the transportation law passed last summer - even if tolls on Interstate 80 are never instituted.

That law calls for the Pennsylvania Turnpike Commission to use higher tolls on the turnpike and new tolls on Interstate 80 to provide about $965 million a year over the next decade for highways, bridges and mass transit.

"Our recommendation is reject the bid. It's too low," said Gary J. Gray, visiting professor of finance at Pennsylvania State University. "Why sell your prized asset in a buyer's market?"

He added that predictions that the state could reap 12 percent returns by investing the upfront payment were overly optimistic.

Rep. Rick Geist (R., Blair) noted that the Abertis-Citi bid was worth billions more when the cost of required future turnpike roadwork is factored in.

Gov. Rendell, who solicited the bids, supports the lease proposal as an alternative to the I-80 tolls, but there was sharp questioning from committee members of both parties yesterday.

"We can go on and on and on about these issues, but I don't think that a whole lot of minds are being changed," Markosek said after the meeting.

Markosek was noncommittal about when - or even if - his committee will vote on the bill that would provide the legislative authorization a lease requires.

"It could happen tomorrow afternoon, or it could never happen," he said.

Both sides are watching to see whether the federal government gives the go-ahead for the tolls on I-80. U.S. Transportation Secretary Mary Peters said this week that she was reserving judgment, but framed it as an issue for state officials.

Officials with the Pennsylvania Turnpike Commission were expected to appear before the committee today.