President Barack Obama is coming to town Wednesday, scheduled to speak at the Tappan Zee Bridge and call for investment into a federal highway and infrastructure bill, according to The Associated Press.
A new twin-span bridge to replace the 59-year-old Tappan Zee has a $3.9 billion price tag, $1.6 billion which is being financed through a federal loan. Obama”™s speech will call on Congress to replenish the Highway Trust Fund, according to reports, which will likely run out of funding this summer.
The AP said the White House is scheduled to release an analysis Monday that will outline the need to fund infrastructure repairs including bridge construction and roadway projects.
The new Tappan Zee is expected to open by 2018. Questions remain about how the remainder of the bridge will be financed outside of the federal loan and what impact bond interest will have on the final cost.
