Indiana Governor Mike Pence recently announced his 21st Century Crossroads Proposal, a plan that would make $1 billion in new road funding available over the next four years.
The proposal includes plans to resurface 16,000 miles of state highways and repair more than 5,200 bridges over the next 15 years.
The funding will not come from increased taxes. Instead, the proposal includes financing from a combination of these five sources:
- State budget appropriations;
- State budget reserves;
- Bond financing;
- An accelerated distribution of interest through the Next Generation Trust Fund; and
- Refinancing existing bonds.
The General Assembly has increased funding for transportation each year since 2013, and the current state budget includes an additional $200 million dedicated to state highways.
State lawmakers recognize the importance of a healthy transportation system. In the coming legislative session, my fellow legislators and I will work together with the governor to identify the best and most fiscally responsible ways to continue funding Indiana’s roads and bridges.
State Senator Randy Head said, “If you have questions or concerns, contact my office by email at Senator.Head@iga.in.gov or by phone at (800) 382-9467.”
