Details are emerging about Connecticut Gov. Ned Lamont’s revised transportation plan, which includes fewer tolls and the use of low-interest federal loans whose repayments would not begin for at least 10 years after they are secured.
Lamont’s plan reportedly revolves around a 10-year investment of about $18 billion, or an average of $1.8 billion per year, compared with the $1.5 billion the state currently spends annually on infrastructure.
As previously reported, the governor’s plan would rely in part on low-interest federal loans, with interest rates at around 2%. The state would have the option of deferring payments or accruing interest until five years after the completion of a major project, which itself would take five to 10 years.
And while the controversial reintroduction of electronic tolls isn’t completely off the table, the new plan significantly reduces the number of them. Originally, Lamont had proposed tolls on four major highways involving about 50 gantries; the new plan reportedly calls for tolls involving 16 to 18 bridges.
The governor has repeatedly called for a special session of the General Assembly to discuss tolls, while Republicans have remained adamant in their opposition to tolls of any kind.