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Lamont looking to borrow against future toll revenues

https://www.washingtontimes.com/news/2019/apr/15/lamont-looking-to-borrow-against-future-toll-reven/
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Apr 15, 2019 11:52 AM 5+ day ago

Tolls might not appear on Connecticut highways for years to come, but Gov. Ned Lamont sees an opportunity for the state to obtain some much-needed transportation funding before the first overhead collector is even installed.

The Democrat has suggested borrowing against the roughly $800 million a year the highway tolls are projected to generate. But that tactic has been partly blamed for the financial challenges facing at least one state, Ohio, where drivers now face hefty gas tax increases at the pump.

"Once they know we're going to be able to do our electronic tolling, we can borrow against those anticipated tolling revenues," Lamont told reporters on Wednesday. The former businessman suggested such a move would allow the state's Department of Transportation to jump-start spending on certain key transportation projects as it awaits the necessary federal approvals and the installation of ...

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