Bonacic: Senate Passes Transportation Budget Bill
State Senator John J. Bonacic (R/I/C/ - Mount Hope) announced today that the Senate has passed budget legislation that invests in the State’s transporation infrastructure. Included in the budget bill are provisions for a $35.8 billion multi-year transportation capital plan for highway, bridge, and MTA mass transit projects.
"If New York State does not have a sound, convenient, and safe transportation infrastructure, we cannot expect to bring in new businesses or tourism dollars into the State which drives our economy," stated Senator Bonacic. "This budget plan represents a strong commitment to achieving healthy and vital communities."
Highlights of the transportation budget include:
$17.9 billion five-year capital plan for highway and bridge improvements
$17.9 billion for MTA mass transit improvements
Furthermore, funding will be added over the next five years as follows:
$1.3 billion for construction lettings to jump start road and bridge projects
$350 million for a new multi-modal program for facilities that provide more than one form of transportation such as bus/rail or port/rail
$100 million for the Consolidated Highway Improvement Program (CHIPS) to help localities maintain roads
$235 million for rail projects
Senator Bonacic said the new five year highway and bridge plan will be funded in part by a proposed $2.9 billion general obligation bond issue to be put before the voters at the November, 2005 election. The Rebuild and Renew New York Transportation Bond Act of 2005, if approved, will provide equal funding for both the highway and bridge and MTA capital programs.
"This transportation plan makes critical investments and provides opportunities to attract new businesses, and create and maintain jobs right here in New York State," concluded Senator Bonacic.
# # #