In a sign that highway tolls may not become a reality in Connecticut after all, Gov. Ned Lamont is expected to provide details on Friday of alternative ways to fund “CT 2030,” a 10-year transportation infrastructure plan.
Officials from the Build America Bureau of the U.S. Department of Transportation will brief Lamont and other state legislators this week on those alternatives.
CT 2030 is a 10-year plan for priority highway and rail projects intended to create less congestion, quicker commutes, and increased economic activity. Credit assistance would come from the Transportation Infrastructure Finance and Innovation Act and the Railroad Rehabilitation & Improvement Financing program.
According to the state Department of Transportation, Connecticut needs at least $2 billion annually to make necessary improvements to its infrastructure. Current revenue sources bring in around $800 million, while federal funding accounts for about $700 million.
A Republican alternative, “Prioritize Progress,” would use $700 million in annual borrowing, to be repaid out of the General Fund.