Malloy Shelves $4.3 Billion in Transportation ProjectsJanuary 10, 2018
It's no secret that the Special Transportation Fund (STF) is broke.
On Wednesday, Gov. Dan Malloy (D-Conn.) announced the indefinite postponement of hundreds of transportation projects, totaling over $4.3 billion in state spending:
Governor Dannel P. Malloy and Connecticut Department of Transportation (CTDOT) Commissioner James P. Redeker today released a full list of projects totaling $4.3 billion that are postponed indefinitely until new revenue is appropriated for the Special Transportation Fund (STF). The Governor made clear that his administration will announce detailed proposals this month that, if adopted by the General Assembly, would bring the projects back online.
The reason? The state is running out of cash. It’s no secret that the Special Transportation Fund (STF) has been running out of money.
In December 2017, a report on the state of the STF outlined the “grim scenario,” predicting deep cuts if state leaders did not “begin to identify new resources,” in other words raise taxes:
In short, Connecticut faces two choices: we can sharply curtail spending on transportation, or we can begin to identify new resources to support the Special Transportation Fund. It is the position of the Malloy Administration that transportation infrastructure is critical to our economic success, and that simply cutting our way to balance in the STF by eliminating important projects and services would be a catastrophic choice.
Despite year after year of tax increases in Connecticut, mismanagement and “negative trends” led the STF to this point.
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