Posted on July 18, 2018 by admin
Dear Friends and Neighbors,
Yesterday evening Governor Malloy signed an executive order directing state agencies to develop a comprehensive plan concerning tolls and announced that he is requesting $10 million from the State Bond Commission to perform that study. This is an unnecessary and expensive use of the State’s borrowing authority that will take years to pay off.
In the past two years, the legislature has been presented with multiple plans and proposals to study and implement tolls and none of them had enough support to come to the floor for a vote. Outside studies and analysis have shown that the majority of the fees collected by tolls would be paid by Connecticut residents commuting to and from work.
The House and Senate Republican Caucuses have over the last several years proposed viable alternatives to fund infrastructure in a sustainable way.
Here is how we do it while keeping the budget balanced:
Require the state to:
1) Reserve a set amount of General Obligation Bonds to be used solely for transportation priorities.
2) Preserve Special Tax Obligation bonds dedicated to transportation.
3) Re-establish the Transportation Strategy Board (TSB) to work alongside DOT to assess proposed projects and identify community needs.
Benefits of the plan include:
- An annual transportation funding mechanism guaranteeing over $1 billion annually over the next 30 years
- No tax increases
- No tolls
- A reduction in state bonding compared to recent practices
- Flexibility in setting transportation priorities
- A sustainable and predictable funding plan to support future generations
Everyone benefits from a strong transportation system. However, we must not add to the burdens that face residents and businesses.