- Associated Press - Saturday, December 20, 2014

ALBANY, N.Y. (AP) - The New York Thruway Authority’s $2 billion budget plan for next year includes nearly $1 billion to keep building a new Tappan Zee Bridge in the lower Hudson Valley.

Executive Director Thomas Madison says by the end of 2015 the authority and Canal Corp. will reduce operating costs more than $200 million with personnel reductions and expense controls and refinance old debt to save $100 million. He says that will help “keep tolls as low as possible” while advancing the project.

Bridge expenses are nearly $750 million this year from new borrowing.

The fiscally conservative Empire Center says the toll revenue targets in the budget adopted Friday equate to a roughly 4 percent system-wide toll increase in 2015.

Gov. Andrew Cuomo says tolls depend on the level of state subsidy.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.


Click to Read More

Click to Hide