Gov. Files $13.7B Transportation Bond Bill
The transportation bond bill would provide funding for modernization and maintenance of the transportation system.
Gov. Deval Patrick filed a transportation bond bill Wednesday that will finance an ambitious 10-year plan to overhaul the state’s ailing transportation system.
The bill would invest $13.7 billion over 10 years in The 21st Century Transportation Plan “The Way Forward” if it is accepted by the state’s legislature, according to a press release from the governor’s office.
The funding would address a backlog of deferred maintenance and strategically improve the state’s transportation system by reducing congestion on roads, curbing delays and minimizing crowding on trains and buses, according to the press release.
“These investments will create the jobs and opportunity today that will build a stronger Commonwealth for tomorrow,” Patrick said in the statement.
The transportation bond bill, to be funded by existing revenues and additional revenues through passage of tax reform, includes the following investments to complete the 21st Century Transportation Plan and fund the existing transportation capital plan for the next four years -
- $3.4 billion to provide $300 million annually in Chapter 90 funds, a 50 percent increase, distributed to Towns and Cities for local road and bridge projects
- $2.4 billion for transportation construction projects over the next four years that are eligible for 82 percent federal reimbursement of costs, leaving a net state borrowing cost of $432 million
- $4.6 billion to fully state-fund highway maintenance and construction, including major projects identified in the 21st Century Transportation Plan, such as the I-93/I-95 interchange and Springfield I-91 viaduct
- $4.4 billion for regional rail projects identified in the Transportation Plan including Green Line expansion, South Coast Rail and South Station expansion
- $3.3 billion to modernize MBTA subway and bus systems to improve service, safety and customer convenience
- $604 million for regional transit to modernize bus fleets and infrastructure in regional systems statewide
- $146 million for information technology projects, including the statutory requirement to implement an asset management system.