Republican Sens. Paul Harris of Vancouver and Curtis King of Yakima are among the co-sponsors of the bill
Jerry Cornfield
Washington State Standard
Washington state lawmakers set out Wednesday to raise $1.6 billion from tolls to help pay for construction of a replacement bridge on Interstate 5 across the Columbia River.
Bills introduced in the state House and Senate authorize the sale of $1.6 billion in general obligation bonds, a long-assumed source of financing for the new span linking Washington and Oregon.
The borrowed money would be repaid with toll proceeds, gas taxes, and vehicle fees. Because the bonds would be backed by “the full faith and credit of the state,” the general fund could be tapped as a last-resort source of repayment.
“It seems like a big deal but it’s on the checklist of things to do,” said Sen. Marko Liias, D-Edmonds, chair of the Senate Transportation Committee and sponsor of the Senate bill.
Republican Sens. Paul Harris of Vancouver and Curtis King of Yakima are among the co-sponsors.
Rep. Jake Fey, D-Tacoma, chair of the House Transportation Committee, said it’s no secret the project would be partially paid for by tolls. Since Washington will be administering the tolling program, it is the one that needs to issue the bonds, he explained.
Project planners have estimated the price tag for replacing the bridge will range from $5 billion to $7.5 billion, with a likely figure of around $6 billion. Permits are expected to be issued by 2026. Once rolling, construction is expected to last until 2032.
Washington and Oregon have committed about $1 billion each and the states have snagged federal grants totaling $2.1 billion.
Tolls – which will be imposed in both directions on the existing bridge in spring of 2026 – were counted on to raise at least $1.2 billion in early calculations.
With project costs expected to climb due to inflation and other factors, the amount needed from tolls to make ends meet will rise too. That is why the bond figure is higher, Fey and Liias explained.
Toll collections will pay for bridge construction and provide an ongoing stream of revenue for bridge maintenance and operations.
During construction, tolls may range from $1.55 to $4.70 each way. Final decisions around rate setting, exemptions, and discounts are expected from the transportation commissions in Oregon and Washington this summer.
Washington law specifies that tolls only go toward the bridge replacement project and not subsidize any Oregon toll facilities.
Hearings on the bills had not been set as of Wednesday afternoon. Passage of the bond bill will require a 60% majority in each chamber.
This report was first published by the Washington State Standard.
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Spend the bridge money on family-wage jobs in Clark County! No more traffic problems! Olympia needs to incentivise Intel, Boeing, Nike, etc to build along the Interstae corridors. Most residents would take a paycut to not cross the bridges daily. Quit looking at a bridge replacement as the costs continue to increase!!!
Economist Joe Cortright expains in this June, 2024 op-ed, Hiding the growing cost of the Interstate Bridge replacement
“• November 2020 Initial cost estimate $3.3 to $4.8 billion”
“December 2022, new cost estimate $5 to $7.5 billion.”
January, 2024: IBR Director Greg Johnson says “costs are going up. We are going to be reissuing an overall program estimate probably later this summer.”(2024)
” By postponing the next cost estimate until the summer of 2025, ODOT is concealing this information from the Legislature as it debates a major transportation measure.”
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“Tolls – which will be imposed in both directions on the existing bridge in spring of 2026”
Some vehicles may divert to I-205.
Likely solution? toll both I-5 and I-205 bridges.
That is a given. Tolling both bridges. They want us to bend over and like it.
Presently, WA state law prohibits tolling I-205. However with democrats holding a sizeable majority in each house of the legislature, they could change that at any time.
build additional bridges and never light rail.