Rep. John Ley says bill would let Oregon off the hook for $1.6 billion in borrowed funds to be paid back by tolling revenues
Ken Vance, editor
Clark County Today
The Washington State House Transportation Committee will hold a hearing Monday (Feb. 24) at 1:30 p.m. on House Bill 1958. The bill, co-sponsored by Rep. Sharon Wylie (Democrat, 49th District), concerns the interstate bridge replacement toll bond authority.
According to opponents of the bill, HB 1958 would put 100 percent of the $1.6 billion in borrowed funds, to be backed by tolling revenues, on Washington residents.
“There is no mention of Oregon in the bill’s language,’’ said Rep. John Ley (Republican, 18th District), a member of the House Transportation Committee.
Ley pointed out that the I-5 Bridge replacement project is theoretically a two-state project, where each state shares in the financial obligations. However, HB 1958 appears to let Oregon “completely off the hook,’’ Ley said.
“Furthermore, ‘if’ there is not enough IBR tolling revenue, then this bill allows WSDOT to use revenues from other tolled facilities to pay back the obligation,’’ Ley said. “And if that’s not enough, then they could use gas tax revenues. And if that’s not enough, they could use taxpayer money from the General Fund. It’s a horrible bill on many levels.’’
Ley urges concerned Clark County citizens to give their input on HB 1958 that would allow Washington state to borrow $1.6 Billion, to be paid back by tolls. This CCT story explains rising toll rates in Washington state, the very high cost of collecting tolls, and high interest payments paid to financiers on huge loans like this.
Residents can register a position on the bill at this link
See the bill webpage at this link
Ley encourages well-informed citizens to sign up and testify either in person or remotely.
Also read:
- POLL: With updated estimates reaching as high as $17.7 billion, what should happen to the I-5 Bridge replacement project?
A new poll asks readers how the I-5 Bridge replacement project should proceed amid higher cost estimates and questions about transparency within the Interstate Bridge Replacement Program. - Opinion: ‘The IBR team has been lying to us and thanks to a veteran Oregon journalist, we have the smoking gun’
Ken Vance argues newly obtained documents show Interstate Bridge Replacement staff withheld updated cost estimates from lawmakers and the public. - Oregon Gov. Kotek calls for repeal of transportation funding package she championed
Oregon Gov. Tina Kotek is urging lawmakers to repeal a transportation funding package she previously supported after a referendum effort halted key tax increases. - Letter: Has $450 million been wasted on a bridge that’s too low for the Coast Guard with a foundation too costly to build?
A Seattle engineer questions whether hundreds of millions of dollars have been spent on a bridge design he argues is unnecessarily risky and costly compared to an immersed tunnel alternative. - Opinion: Transit agencies need accountability not increased state subsidy
Charles Prestrud argues that Washington transit agencies face rising costs and declining ridership due to governance structures that lack public accountability.
wpDiscuz
